Checkmate details bleak future if $250M Regeneron merger does not close

“Difficulties in employee retention.” “No assurance that we will be able to successfully raise sufficient additional capital.” “We may be forced to delay, reduce or eliminate some or all of our research and development programs.”

This is the future facing Checkmate Pharmaceuticals if the $250 million Regeneron deal does not happen. The company stepped in as a knight in shining armor in April with the deal, the primary interest being the anti-PD-1 med vidutolimod.