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May 6 , 2021 Checkpoint Therapeutics Checkpoint Therapeutics Reports First Quarter 2021 Financial Results and Recent Corporate Highlights -- NEW YORK , May 06 , 2021 ( GLOBE NEWSWIRE ) Checkpoint Therapeutics , Inc. ( " Checkpoint " ) ( NASDAQ : CKPT ) , a clinical - stage immunotherapy and targeted oncology company , today announced financial results for the first quarter ended March 31 , 2021 , and recent corporate highlights . James F. Oliviero , President and Chief Executive Officer of Checkpoint , stated , “ During the first quarter of 2021 , we continued to advance the development of our two lead drug candidates while also enhancing our cash position . Enrollment in our registration - enabling study for cosibelimab in metastatic cutaneous squamous cell carcinoma ( " mCSCC " ) is nearly complete and the study remains on track to report top - line results by year - end . With a successful study , we anticipate submitting our first application for marketing approval for cosibelimab next year . " Mr. Oliviero continued , “ Additionally , our collaboration partner in Asia for olafertinib ( CK- 101 ) , Neupharma Inc. , continues to enroll patients as planned into a Phase 3 , registration- enabling study in first - line , EGFR mutation - positive locally advanced or metastatic non - small cell lung cancer ( " NSCLC " ) . We intend to meet with the FDA to discuss the ongoing Phase 3 study design and its potential use to support a New Drug Application submission in the United States . " Recent Corporate Highlights : • In March 2021 , Checkpoint announced the formation of a Scientific Advisory Board comprised of industry thought leaders . Members include Wayne A. Marasco , M.D. , Ph.D. , Roy S. Herbst , M.D. , Ph.D. , F. Stephen Hodi , Jr. , M.D. , Bruce E. Johnson , M.D. , David Miller , M.D. , Ph.D. , and Emily Ruiz , M.D. , M.P.H. • During the first quarter of 2021 , Checkpoint raised $ 23.9 million of net proceeds from the utilization of the Company's At - the - Market Issuance Sales Agreement at an average price of $ 3.50 . Financial Results : • Cash Position : As of March 31 , 2021 , Checkpoint's cash and cash equivalents totaled $ 60.0 million , compared to $ 40.8 million at December 31 , 2020 , an increase of $ 19.2 million . • R & D Expenses : Research and development expenses for the first quarter of 2021 were $ 4.2 million , compared to $ 2.6 million for the first quarter of 2020 , an increase of $ 1.6 million . Research and development expenses for the first quarter of 2021 included