Full Press Release Details
Reports Third Quarter 2025 Financial Results and Provides Business Updates
showed encouraging overall responses and favorable safety profile in relapsed/refractory B-cell lymphoma
66% objective response rate with 50% complete response in relapsed Non-Hodgkin lymphoma (NHL) patients in the ongoing APOLLO study
treated in Off-the-Shelf program (RAPID study) investigating MAR-T cells in patients with Acute Myeloid Leukemia (AML) or Myelodysplastic
collaboration established with Cellipont Bioservices
- November 14, 2025 - Marker Therapeutics, Inc. (Nasdaq: MRKR), a clinical-stage immuno-oncology company developing
next-generation T cell-based therapies, today reported corporate updates and financial results for the third quarter ended September 30,
the second half of 2025 with strong clinical momentum as we continue to advance our lead program, MT-601, in patients with relapsed or
refractory B-cell lymphoma," said Juan Vera, M.D., President and Chief Executive Officer of Marker Therapeutics. "The
most recent update from our Phase 1 APOLLO study showed a 66% objective response rate including 50% complete responses, in heavily pre-treated
NHL patients. These data, together with a favorable safety profile, reinforce the potential of MT-601 to meet the critical needs of patients
who have exhausted multiple lines of therapy, including CAR-T cell therapies and bispecific antibodies. We're encouraged by the
durability of responses and plan to share an additional update in the first half of 2026."
"We also achieved a number of key milestones in this quarter, including treating the first patient in our Off-the-Shelf (OTS) program
and entering a strategic manufacturing collaboration with Cellipont to scale up production of MT-601. In parallel, we have strengthened
our balance sheet by raising approximately $10 million through our ATM facility, extending our cash runway well into 2026. Looking ahead,
we are focused on enrolling patients in the MT-601 dose expansion cohort to build on our promising observations from our APOLLO study.
Having executed on the priorities we set at the beginning of the year we are entering the final stretch of 2025 with strong operational
footing and a clear clinical focus."
OPERATIONAL HIGHLIGHTS
Program (Acute Myeloid Leukemia or Myelodysplastic Syndrome)
2025 FINANCIAL HIGHLIGHTS
and Guidance: At September 30, 2025, Marker had cash and cash equivalents of $17.6 million and restricted cash of $1.4 million.
The Company believes that its existing cash, cash equivalents and restricted cash will fund its operating expenses through the third
quarter of 2026, assuming no additional grant funds are received, either from new grants or from existing awarded grants.
Research and development expenses were $2.3 million for the quarter ended September 30, 2025, compared to $3.5 million for the quarter
ended September 30, 2024.
General and administrative expenses were $1 million for the quarter ended September 30, 2025, compared to $0.9 million for the quarter
ended September 30, 2024.
Marker reported a net loss from continuing operations of $2.0 million for the quarter ended September 30, 2025, compared to $2.3
million for the quarter ended September 30, 2024.
recognizing (MAR) T cell platform (formerly known as multiTAA-specific T cells) is a novel, non-genetically modified cell therapy approach
that selectively expands tumor-specific T cells from a patient's/donor's blood capable of recognizing a broad range of tumor antigens.
Unlike other T cell therapies, MAR-T cells allow the recognition of hundreds of different epitopes within up to six tumor-specific antigens,
thereby reducing the possibility of tumor escape. Since MAR-T cells are not genetically engineered, Marker believes that its product
candidates will be easier and less expensive to manufacture, with an improved safety profile compared to current engineered T cell approaches
and may provide patients with meaningful clinical benefits.
Marker Therapeutics, Inc.
is a Houston, TX-based clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies
for the treatment of hematological malignancies and solid tumors. The Company was founded at Baylor College of Medicine, and clinical
trials that enrolled more than 200 patients across various hematological and solid tumor indications showed that the Company's
autologous and allogeneic MAR-T cell products were well tolerated and demonstrated durable clinical responses. Marker's goal is
to introduce novel T cell therapies to the market and improve patient outcomes. To achieve these objectives, the Company prioritizes
the preservation of financial resources and focuses on operational excellence. Marker's unique T cell platform is strengthened
by non-dilutive funding from U.S. state and federal agencies supporting cancer research.
press releases via email, please visit: https://www.markertherapeutics.com/email-alerts.
release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Statements in this news release concerning the Company's expectations, plans, business outlook or future performance,
and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters,
are "forward-looking statements." Forward-looking statements include statements regarding our intentions, beliefs, projections,
outlook, analyses or current expectations concerning, among other things: our research, development and regulatory activities and expectations
relating to our non-engineered multi-tumor antigen specific T cell therapies; the effectiveness of these programs or the possible range
of application and potential curative effects and safety in the treatment of diseases; and the timing, conduct, interim results announcements
and outcomes of our clinical trials of our product candidates, including MT-601 for the treatment of patients
with lymphoma. Forward-looking statements are by their nature subject to risks, uncertainties and
other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and
factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K, 10-Q and other SEC filings
which are available through EDGAR at WWW.SEC.GOV. The Company assumes no obligation
to update its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press
release except as may be required by law.
Marker Therapeutics, Inc.
Condensed Consolidated
| September 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 17,589,978 | $ | 19,192,440 | ||||
| Restricted cash | 1,352,975 | - | ||||||
| Prepaid expenses and deposits | 1,126,724 | 483,717 | ||||||
| Other receivables | 1,665,153 | 2,346,703 | ||||||
| Total current assets | 21,734,830 | 22,022,860 | ||||||
| Total assets | $ | 21,734,830 | $ | 22,022,860 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable and accrued liabilities | $ | 1,664,647 | $ | 1,753,954 | ||||
| Related party payable | 328,315 | 1,710,500 | ||||||
| Deferred revenue | 1,352,975 | - | ||||||
| Total current liabilities | 3,345,937 | 3,464,454 | ||||||
| Total liabilities | 3,345,937 | 3,464,454 | ||||||
| Stockholders' equity: | ||||||||
| Preferred stock, $0.001 par value, 5 million shares authorized, 0 shares issued and outstanding at September 30, 2025 and December 31, 2024 , respectively | - | - | ||||||
| Common stock, $0.001 par value, 30 million shares authorized, 16.7 million and 10.7 million shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively (see Note 8) | 16,672 | 10,708 | ||||||
| Additional paid-in capital | 475,849,809 | 465,564,876 | ||||||
| Accumulated deficit | (457,477,588 | ) | (447,017,178 | ) | ||||
| Total stockholders' equity | 18,388,893 | 18,558,406 | ||||||
| Total liabilities and stockholders' equity | $ | 21,734,830 | $ | 22,022,860 |
Marker Therapeutics, Inc.
Condensed Consolidated
Statements of Operations
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues: | ||||||||||||||||
| Grant income | $ | 1,232,938 | $ | 1,926,020 | $ | 2,443,255 | $ | 4,339,317 | ||||||||
| Total revenues | 1,232,938 | 1,926,020 | 2,443,255 | 4,339,317 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 2,345,843 | 3,471,216 | 9,658,322 | 8,381,661 | ||||||||||||
| General and administrative | 1,023,821 | 854,677 | 3,338,200 | 3,214,611 | ||||||||||||
| Loss on early termination of vendor agreement | - | - | 453,135 | - | ||||||||||||
| Total operating expenses | 3,369,664 | 4,325,893 | 13,449,657 | 11,596,272 | ||||||||||||
| Loss from operations | (2,136,726 | ) | (2,399,873 | ) | (11,006,432 | ) | (7,256,955 | ) | ||||||||
| Other income: | ||||||||||||||||
| Interest income | 138,064 | 91,681 | 428,578 | 363,264 | ||||||||||||
| Other income | - | - | 117,444 | - | ||||||||||||
| Net loss | $ | (1,998,662 | ) | $ | (2,308,192 | ) | $ | (10,460,410 | ) | $ | (6,893,691 | ) | ||||
| Net loss per share: | ||||||||||||||||
| Net loss per share | $ | (0.12 | ) | $ | (0.26 | ) | $ | (0.75 | ) | $ | (0.77 | ) | ||||
| Weighted average number of common shares outstanding: | ||||||||||||||||
| Basic | 16,757,678 | 8,923,170 | 13,960,791 | 8,914,487 | ||||||||||||
| Diluted | 16,757,678 | 8,923,170 | 13,960,791 | 8,914,487 |
Marker Therapeutics, Inc.
Condensed Consolidated
Statements of Cash Flows
| For the Nine Months Ended | ||||||||
| September 30, | ||||||||
| 2025 | 2024 | |||||||
| Cash Flows from Operating Activities: | ||||||||
| Net loss | $ | (10,460,410 | ) | $ | (6,893,691 | ) | ||
| Reconciliation of net loss to net cash used in operating activities: | ||||||||
| Stock-based compensation | 426,409 | 195,320 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Prepaid expenses and deposits | (643,007 | ) | (178,148 | ) | ||||
| Other receivables | 681,550 | 283,405 | ||||||
| Related party payable | (1,382,185 | ) | (426,217 | ) | ||||
| Accounts payable and accrued expenses | (89,307 | ) | 812,142 | |||||
| Deferred revenue | 1,352,975 | - | ||||||
| Net cash used in operating activities | (10,113,975 | ) | (6,207,189 | ) | ||||
| Cash Flows from Financing Activities: | ||||||||
| Proceeds from issuance of common stock, net | 9,863,883 | 36,902 | ||||||
| Proceeds from exercise of warrants and stock options | 605 | 58,501 | ||||||
| Net cash provided by financing activities | 9,864,488 | 95,403 | ||||||
| Net decrease in cash, cash equivalents, and restricted cash | (249,487 | ) | (6,111,786 | ) | ||||
| Cash, cash equivalents, and restricted cash at beginning of the period | 19,192,440 | 15,111,450 | ||||||
| Cash, cash equivalents, and restricted cash at end of the period | $ | 18,942,953 | $ | 8,999,664 |
Marker Therapeutics, Inc.