Checkpoint Therapeutics (NASDAQ:CKPT), a commercial-stage immunotherapy and targeted oncology company, today released its financial results for the fiscal year ended December 31, 2024.
For the fiscal year 2024, Checkpoint reported a net loss attributable to common stockholders of $56.2 million, or $1.42 per share, compared to a net loss of $51.8 million, or $3.17 per share, in 2023.
While the net loss increased year-over-year, the per-share loss decreased, reflecting a higher number of outstanding shares.
Research and development (R&D) expenses dropped to $36.2 million in 2024 from $43.6 million in 2023, a reduction of $7.4 million.
This decrease was partially offset by a rise in non-cash stock expenses, which reached $12.9 million in 2024 compared to $4.6 million the previous year.
Meanwhile, general and administrative (G&A) expenses surged to $20.1 million in 2024, up from $8.7 million in 2023, driven by an increase in non-cash stock expenses from $2.7 million to $11 million.
While Checkpoint ended 2024 with $6.6 million in cash and cash equivalents, up from $4.9 million at the close of 2023, the company bolstered its liquidity in early 2025 with $38.1 million in cash proceeds from warrant exercises.