Checkmate Pharmaceuticals

Checkmate Pharmaceuticals
Checkmate Pharmaceuticals
Company Information
Company Description

Checkmate Pharmaceuticals is a clinical stage biotechnology company focused on developing proprietary technology to harness the power of the immune system to combat cancer. Checkmate’s product candidate, vidutolimod (CMP-001), is a differentiated TLR9 agonist delivered as a biologic virus-like particle designed to trigger the body’s innate immune system to attack tumors in combination with other therapies.

Industries
Biotechnology, Medical Device, Pharmaceutical, Therapeutics

Please note, it is important to assess the company’s business activities against Section 1202(e)(3) which specifies certain industries that are not considered a “qualified trade or business.”

Entity Type
C Corporation

A C corporation is a qualified legal entity for QSBS.

Incorporation Date

2015

Incorporation State
Massachusetts
Qualified Small Business Stock (QSBS) Details

Exemption Level

Given the Company was incorporated after September 27, 2010, all shares could be eligible for up to a 100% tax exclusion if the other QSBS criteria are met.

Any individual owning stock purchased or received directly from the company could potentially be eligible for the QSBS capital gains tax exclusion or the Section 1045 gain rollover if the QSBS standards as per IRC Section 1202 were met at the time of issuance.

In order to assess whether stock issued previously may qualify, the Company would also have to have not taken actions that invalidate QSBS status such as a certain level of redemptions, and would have to satisfy the active business requirement.

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IPO Details
IPO Date
Symbol
CMPI
IPO Raised
$75,000,000.00
IPO Price
$15.00
IPO Date Adjusted Closing Price
$14.00

This article does not constitute legal or tax advice. Please consult with your legal or tax advisor with respect to your particular circumstance.