Checkmate Pharmaceuticals (CMPI) IPO Opens Modestly Lower

Today's IPO for Checkmate Pharmaceuticals, Inc. (NASDAQ: CMPI) opened for trading at $14.90 after pricing 5,000,000 shares of common stock at a public offering price of $15.00 per share. All of the shares are being offered by Checkmate.

Checkmate has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

BofA Securities, Jefferies and BMO Capital Markets are acting as joint book-running managers for the offering. BTIG is acting as lead manager for the offering.

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, 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.

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