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August 5 , 2021 Checkpoint Therapeutics Checkpoint Therapeutics Reports Second Quarter 2021 Financial Results NEW YORK , Aug. 05 , 2021 ( GLOBE NEWSWIRE ) -- Checkpoint Therapeutics , Inc. ( " Checkpoint " ) ( NASDAQ : CKPT ) , a clinical - stage immunotherapy and targeted oncology company , today announced financial results for the second quarter ended June 30 , 2021 . James F. Oliviero , President and Chief Executive Officer of Checkpoint , stated , " In the second quarter of 2021 , we were pleased to announce the completion of enrollment in our pivotal cohort of patients with metastatic cutaneous squamous cell carcinoma ( " cSCC " ) in our ongoing registration - enabling clinical trial for cosibelimab , our potential best - in - class anti- PD - L1 antibody product candidate , and continue to expect to report top - line data in the fourth quarter of this year . Upon a successful outcome , Checkpoint intends to submit a Biologics License Application ( “ BLA ” ) for cosibelimab in 2022 , followed shortly thereafter by a Marketing Authorization Application submission in Europe . With a potential favorable safety profile and a plan to commercialize at a substantially lower price than currently available therapies in this drug class , we believe cosibelimab could be a disruptive product in the $ 25 billion and growing PD- ( L ) 1 market . " Mr. Oliviero continued , “ Additionally , during the second quarter , we had productive interactions with the FDA regarding our development program for olafertinib ( formerly CK- 101 ) , our third - generation epidermal growth factor receptor ( " EGFR " ) inhibitor being evaluated by our partner in an ongoing double - blind , randomized Phase 3 study in China . We intend to utilize the Phase 3 study , if successful , to support a New Drug Application ( " NDA " ) submission for olafertinib as a potential first - line treatment for patients with non- small cell lung cancer whose tumors have certain types of EGFR mutations . " Financial Results : • Cash Position : As of June 30 , 2021 , Checkpoint's cash and cash equivalents totaled $ 65.1 million , compared to $ 60.0 million at March 31 , 2021 and $ 40.8 million at December 31 , 2020 , an increase of $ 5.1 million for the quarter and an increase of $ 24.3 million for the first half of 2021 . • R & D Expenses : Research and development expenses for the second quarter of 2021 were $ 7.2 million , compared to $ 3.0 million for the second quarter of 2020 , an increase of $ 4.2 million . The increase in research and development expense is primarily attributable to an increase in clinical trial and manufacturing related expenses for cosibelimab . Research and development expenses for the second quarters of 2021 and 2020 each included $ 0.2 million of non - cash stock expenses . • G & A Expenses : General and administrative expenses for the second quarter of 2021 were $ 2.1 million , compared to $ 1.7 million for the second quarter of 2020 , an increase of $ 0.4 million . General and administrative expenses for the second quarter of 2021 included $ 0.9 million of non - cash stock expenses , compared to $ 0.7 million for the