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Checkmate (CMPI), Bristol Myers Ink Deal for Cancer Combo
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Checkmate Pharmaceuticals, Inc.’s() shares jumped 13% after the company announced that it has inked a clinical collaboration agreement with Bristol Myers Squibb (BMY - Free Report) .
The purpose of the deal is to evaluate the combination of Checkmate’s Toll-like receptor 9 (TLR9) agonist CMP-001 and Bristol Myers’s PD-L1 inhibitor Opdivo for metastatic melanoma indications.
Shares of Checkmate have increased 21.8% year to date compared with the industry’s 6.9% growth.
CMP-001 is an advanced generation TLR9 agonist, which is designed to trigger the body’s innate immune system to attack tumors in combination with other therapies. The company is evaluating CMP-001 across multiple tumor types in combination with other immunotherapy agents. It aims to establish CMP-001 as a foundational immuno-oncology therapy that engages the innate immune system to fight cancer and improve outcomes for patients with a broad range of solid tumors.
Opdivo has been approved in several countries for various cancer indications, including several in combination with Bristol-Myers’s another cancer drug Yervoy.
The companies will collaborate on two studies. One will be a single arm phase II study of CMP-001 in combination with Opdivo in patients with unresectable or metastatic melanoma that is refractory to PD-1 blockade as monotherapy or in combination with other therapies. The second will be a randomized phase II study of first-line CMP-001 in combination with Opdivo compared to Opdivo monotherapy in patients with unresectable or metastatic melanoma. For both the studies, Checkmate Pharmaceuticals will be the sponsor and Bristol Myers Squibb will supply Opdivo.
Checkmate is actively engaging with potential clinical sites, and remains on track to initiate another phase II study combining CMP-001 with PD-1 blockade for the treatment of first-line head and neck cancer.
Zacks Rank & Stocks to Consider
Checkmate currently carries a Zacks Rank #3 (Hold).
Aerpio’s loss per share estimates have narrowed from 15 cents to 14 cents for 2020 and from 63 cents to 57 cents for 2021 over the past 60 days.
Alimera’s loss per share estimates have narrowed from $1.31 to 96 cents for 2020 over the past 60 days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
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Checkmate (CMPI), Bristol Myers Ink Deal for Cancer Combo
Checkmate Pharmaceuticals, Inc.’s () shares jumped 13% after the company announced that it has inked a clinical collaboration agreement with Bristol Myers Squibb (BMY - Free Report) .
The purpose of the deal is to evaluate the combination of Checkmate’s Toll-like receptor 9 (TLR9) agonist CMP-001 and Bristol Myers’s PD-L1 inhibitor Opdivo for metastatic melanoma indications.
Shares of Checkmate have increased 21.8% year to date compared with the industry’s 6.9% growth.
CMP-001 is an advanced generation TLR9 agonist, which is designed to trigger the body’s innate immune system to attack tumors in combination with other therapies. The company is evaluating CMP-001 across multiple tumor types in combination with other immunotherapy agents. It aims to establish CMP-001 as a foundational immuno-oncology therapy that engages the innate immune system to fight cancer and improve outcomes for patients with a broad range of solid tumors.
Opdivo has been approved in several countries for various cancer indications, including several in combination with Bristol-Myers’s another cancer drug Yervoy.
The companies will collaborate on two studies. One will be a single arm phase II study of CMP-001 in combination with Opdivo in patients with unresectable or metastatic melanoma that is refractory to PD-1 blockade as monotherapy or in combination with other therapies. The second will be a randomized phase II study of first-line CMP-001 in combination with Opdivo compared to Opdivo monotherapy in patients with unresectable or metastatic melanoma. For both the studies, Checkmate Pharmaceuticals will be the sponsor and Bristol Myers Squibb will supply Opdivo.
Checkmate is actively engaging with potential clinical sites, and remains on track to initiate another phase II study combining CMP-001 with PD-1 blockade for the treatment of first-line head and neck cancer.
Zacks Rank & Stocks to Consider
Checkmate currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector include Aerpio Pharmaceuticals Ltd. and Alimera Sciences Inc. (ALIM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Aerpio’s loss per share estimates have narrowed from 15 cents to 14 cents for 2020 and from 63 cents to 57 cents for 2021 over the past 60 days.
Alimera’s loss per share estimates have narrowed from $1.31 to 96 cents for 2020 over the past 60 days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>