Checkpoint Therapeutics Reports Second Quarter 2024 Financial Results and Recent Corporate Updates - Fortress Biotech (NASDAQ:FBIO), Checkpoint Therapeutics (NASDAQ:CKPT)

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54% : Company Contact:Jaclyn JaffeCheckpoint Therapeutics, Inc.(781) 652-4500ir@checkpointtx.comInvestor Relations Contact:Ashley R. RobinsonManaging Director, LifeSci Advisors, LLC(617) 430-7577arr@lifesciadvisors.comMedia Relations Contact:Katie KennedyGregory FCA610-731-1045checkpoint@gregoryfca.comCHECKPOINT THERAPEUTICS, INC.CONDENSED BALANCE SHEETS(in thousands, except share and per share amounts)(Unaudited) June 30, 2024 December 31, 2023 ASSETS Current Assets:
53% : Cash and cash equivalents $4,951 $4,928 Prepaid expenses and other current assets 678 450 Other receivables - related party 41 - Total current assets 5,670 5,378 Total Assets $5,670 $5,378 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and accrued expenses $18,115 $15,485 Accounts payable and accrued expenses - related party 3,179 2,815 Common stock warrant liabilities 125 125 Total current liabilities 21,419 18,425 Total Liabilities 21,419 18,425 Commitments and Contingencies Stockholders' Equity (Deficit) Common Stock ($0.0001 par value), 175,000,000 and 80,000,000 shares authorized as of June 30, 2024 and December 31, 2023, respectively Class A common shares, 700,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023 - - Common shares, 41,631,500 and 27,042,035 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 4 3 Common stock issuable, 0 and 1,492,915 shares as of June 30, 2024 and December 31, 2023, respectively - 3,419 Additional paid-in capital 316,195 297,864 Accumulated deficit (331,948) (314,333)Total Stockholders' Equity (Deficit) (15,749) (13,047)Total Liabilities and Stockholders' Equity (Deficit) $5,670 $5,378CHECKPOINT THERAPEUTICS, INC.CONDENSED STATEMENTS OF OPERATIONS(in thousands, except share and per share amounts)(Unaudited) For the three months ended June 30, For the six months ended June 30, 2024202320242023Revenue - related party $41 $31 $41 $66 Operating expenses: Research and development 4,480 13,945 12,977 29,771 General and administrative 2,234 2,281 4,685 4,573 Total operating expenses 6,714 16,226 17,662 34,344 Loss from operations (6,673) (16,195) (17,621) (34,278) Other income (expense) Interest income 3 31 7 74 (Loss) gain on common stock warrant liabilities - (357) 7,209 Foreign currency exchange loss - - (1) - Total other income (expense) 3 (326) 6 7,283 Net Loss $(6,670) $(16,521) $(17,615) $(26,995) Loss per Share: Basic and diluted net loss per common share outstanding $(0.18) $(1.05) $(0.51) $(1.97)

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