$CKPT
Checkpoint Therapeutics, Inc.

2018 Q4 Form 10-K Financial Statement

#000114420419014409 Filed on March 18, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $3.030M $10.00K $130.0K
YoY Change 818.18% -97.14% -62.86%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.500M $1.540M $1.350M
YoY Change 10.29% 14.93% 2.27%
% of Gross Profit
Research & Development $13.42M $7.848M $5.453M
YoY Change 172.76% 58.39% -0.96%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $14.92M $9.392M $6.805M
YoY Change 137.97% 49.1% -0.26%
Operating Profit -$9.387M -$6.678M
YoY Change 57.76% 3.18%
Interest Expense $50.00K $40.00K $40.00K
YoY Change 150.0% 100.0%
% of Operating Profit
Other Income/Expense, Net $230.0K $43.00K $39.00K
YoY Change 95.45% 62.5%
Pretax Income -$11.62M -$9.340M -$6.640M
YoY Change 96.28% 57.5% 2.95%
Income Tax
% Of Pretax Income
Net Earnings -$11.62M -$9.344M -$6.639M
YoY Change 96.33% 57.62% 2.96%
Net Earnings / Revenue -383.47% -93440.0% -5106.92%
Basic Earnings Per Share
Diluted Earnings Per Share -$373.4K -$319.3K -$228.7K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.00M $29.60M $28.30M
YoY Change 14.4% 26.39% 3.93%
Cash & Equivalents $22.00M $29.60M $28.30M
Short-Term Investments
Other Short-Term Assets $1.532M $5.000K $127.0K
YoY Change 362.84% -99.74% -85.4%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $24.90M $30.80M $28.96M
YoY Change 16.28% 20.04% 0.06%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $24.90M $30.80M $28.96M
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $24.90M $30.80M $28.96M
YoY Change 16.28% 20.04% 0.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.750M $8.780M $6.660M
YoY Change 167.49% 50.34% 62.04%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.09M $8.782M $6.655M
YoY Change 105.48% 50.38% 62.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $13.09M $8.782M $6.655M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $13.09M $8.782M $6.655M
YoY Change 105.48% 50.38% 62.04%
SHAREHOLDERS EQUITY
Retained Earnings -$95.40M -$83.78M -$74.43M
YoY Change 61.61% 57.75%
Common Stock $3.000K $3.000K $3.000K
YoY Change 50.0% 50.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.81M $22.02M $22.30M
YoY Change
Total Liabilities & Shareholders Equity $24.90M $30.80M $28.96M
YoY Change 16.28% 20.04% 0.06%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income -$11.62M -$9.344M -$6.639M
YoY Change 96.33% 57.62% 2.96%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$7.610M -$6.460M -$6.530M
YoY Change 81.62% 69.55% 39.83%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 7.760M -30.00K
YoY Change
NET CHANGE
Cash From Operating Activities -7.610M -6.460M -6.530M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 7.760M -30.00K
Net Change In Cash -7.610M 1.300M -6.560M
YoY Change 81.62% -134.12% 29.39%
FREE CASH FLOW
Cash From Operating Activities -$7.610M -$6.460M -$6.530M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$7.610M -$6.460M -$6.530M
YoY Change 81.62% 69.55% 52.93%

Facts In Submission

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(i) issue annually to Fortress, on the anniversary date of the Founders Agreement, shares of common stock equal to two and one-half percent (2.5%) of the fully-diluted outstanding equity of Checkpoint at the time of issuance; (ii) pay an equity fee in shares of common stock, payable within five (5) business days of the closing of any equity or debt financing for Checkpoint or any of its respective subsidiaries that occurs after the effective date of the Founders Agreement and ending on the date when Fortress no longer has majority voting control in Checkpoint&#8217;s voting equity, equal to two and one-half percent (2.5%) of the gross amount of any such equity or debt financing; and (iii) pay a cash fee equal to four and one half percent (4.5%) of Checkpoint&#8217;s annual net sales, payable on an annual basis, within ninety (90) days of the end of each calendar year. In the event of a change in control (as it is defined in the Founders Agreement), Checkpoint will pay a one-time change in control fee equal to five times (5x) the product of (i) monthly net sales for the twelve (12) months immediately preceding the change in control and (ii) four and one-half percent (4.5%). The Founders Agreement has a term of fifteen years, after which it automatically renews for one-year periods unless Fortress gives the Company notice of termination. The Founders Agreement will also automatically terminate upon a change of control.
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2018 us-gaap Effective Income Tax Rate Continuing Operations
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0
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
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DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
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CY2018Q4 cik0001651407 Deferred Tax Assets Tax Deferred Expense Change In Fair Value Of Warrant Liabilities
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0
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DeferredTaxAssetsTaxDeferredExpenseChangeInFairValueOfWarrantLiabilities
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DeferredTaxAssetsTaxCreditCarryforwards
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CY2018Q4 cik0001651407 Deferred Tax Assets Start Up Costs
DeferredTaxAssetsStartUpCosts
32000
CY2017Q4 cik0001651407 Deferred Tax Assets Start Up Costs
DeferredTaxAssetsStartUpCosts
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CY2018Q4 us-gaap Deferred Tax Assets Gross
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25052000
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CY2017 us-gaap Deferred Income Tax Expense Benefit
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CY2018 dei Document Type
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10-K
CY2018 dei Amendment Flag
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false
CY2018 dei Document Period End Date
DocumentPeriodEndDate
2018-12-31
CY2018 dei Document Fiscal Year Focus
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CY2018 dei Document Fiscal Period Focus
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CY2018 dei Entity Registrant Name
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Checkpoint Therapeutics, Inc.
CY2018 dei Entity Central Index Key
EntityCentralIndexKey
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CY2018 dei Current Fiscal Year End Date
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CY2018 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2018 dei Entity Filer Category
EntityFilerCategory
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CY2018Q2 dei Entity Public Float
EntityPublicFloat
58374725
CY2018 dei Entity Shell Company
EntityShellCompany
false
CY2018 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2018 dei Entity Ex Transition Period
EntityExTransitionPeriod
true
CY2018 dei Entity Small Business
EntitySmallBusiness
true
CY2016Q4 us-gaap Stockholders Equity
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32305000
CY2018Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
9750000
CY2017Q4 us-gaap Accounts Payable Current
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3645000
CY2018Q4 us-gaap Employee Related Liabilities Current
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439000
CY2017Q4 us-gaap Employee Related Liabilities Current
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CY2018Q4 us-gaap Other Liabilities Current
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1751000
CY2017Q4 us-gaap Other Liabilities Current
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CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
377000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
246000

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