Marker Therapeutics Reports Year-End 2023 Corporate and Financial Results Lead program in patients with lymphoma demonstrated preliminary safety and efficacy results with sustained complete response in first study partic

Marker Therapeutics Reports Year-End 2023 Corporate

and Financial Results

Lead program in patients with lymphoma demonstrated

preliminary safety and efficacy results with sustained complete response in first study participant treated with MT-601 (Neldaleucel)

following CAR T relapse

Secured non-dilutive funding of $2 million from

National Institute of Health (NIH) to support clinical program for treatment of patients with Acute Myeloid Leukemia (AML)

Received Orphan Drug Designation (ODD) from European

Medicines Agency (EMA) for multiTAA-specific T cell product candidate MT-401 (Zedenoleucel) for the treatment of patients with AML

Implemented leadership transition resulting in

appointments of Juan Vera, M.D. as President and Chief Executive Officer and Monic Stuart, M.D., MPH as Chief Medical Officer

Executed comprehensive non-dilutive agreement with

Cell ReadyTM effecting a significant reduction in overhead expenses and extending Marker's runway into the fourth quarter

Strategic prioritization of clinical pipeline with

focus on MT-601 (Neldaleucel) in patients with lymphoma

- March 25, 2024 - Marker Therapeutics, Inc. (Nasdaq: MRKR), a clinical-stage immuno-oncology

company focusing on developing next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid

tumors, today reported recent corporate developments and financial results for the year ended December 31, 2023.

"The progress achieved in 2023 we believe

establishes a robust foundation for Marker and sets the stage for continued advancement in our clinical programs and business operations

in the upcoming year," commented Juan Vera, M.D. President and Chief Executive Officer of Marker Therapeutics. "A pinnacle

of last year's success was the Phase 1 lymphoma study milestone, where we observed a sustained complete response in our first study participant

treated with MT-601 following CAR T relapse. This patient relapsed within 90 days of CAR T therapy but has remained in a complete remission

for at least six months after MT-601 treatment, indicating that MT-601 has superior durability in this study participant. The promising

clinical and non-clinical observations from our lymphoma study reinforced our strategic decision, made public this January, to prioritize

the development of MT-601 in patients with lymphoma who have failed or are ineligible for CAR T therapy. Focusing on this unique niche

of patients and by targeting multiple antigens, our approach differs significantly from competitors, and we believe that MT-601 could

address an unmet medical need in this patient population with a better safety profile and at lower costs when compared to gene-modified

cell therapy approaches."

Further bolstering Marker's position is

the award of $2 million in non-dilutive funding from the NIH last year, which is instrumental in supporting the advancement of the Company's

MT-401 "Off-the-Shelf" (MT-401-OTS) program in patients with Acute Myeloid Leukemia (AML).

Dr. Vera added, "This award is expected

to enable us to proceed with the OTS program without affecting our ongoing study for patients with lymphoma. Decreasing time to treatment

is critical for rapidly progressing cancers, such as patients with minimal residual disease (MRD) in AML."

Utilizing an OTS product manufactured from healthy

donors will help to bypass the treatment delay that is associated with patient-specific manufacture and should shorten the time until

the product is made available to patients, while reducing manufacturing costs. Additionally, receiving Orphan Drug Designation (ODD) by

the European Medicines Agency (EMA) substantiates the potential impact of MT-401 in patients with AML and presents an opportunity to develop

the therapy on an expedited basis.

Marker also executed a comprehensive non-dilutive

agreement with Cell Ready which included a sale of select cell manufacturing assets from Marker for approximately $19 million in cash.

This major transaction, which we expect will enable a reduction of overhead expenses of about $11 million annually, not only improves

our financial health but, we believe, also positions us uniquely in the cell therapy industry - a sector where such significant

non-dilutive funding and operational savings are remarkably rare. This strategic foresight, together with the drawdowns available from

our grant funds, should extend the cash runway into the fourth quarter of 2025.

"These accomplishments underline our commitment

to driving scientific innovation, our vision in making major impact with our novel multiTAA technology for patients in need, and our emphasis

on cash preservation and operational excellence. As we have pivoted into 2024, we remain poised to advance our clinical endeavors with

the goal of introducing transformative therapies to the market and improving patient outcomes," concluded Dr. Vera.

2023 PROGRAM UPDATES & OPERATIONAL

Non-Clinical Data on MT-601

MT-401-OTS (Acute Myeloid Leukemia or Myelodysplastic

2023 CORPORATE HIGHLIGHTS

FISCAL YEAR 2023 FINANCIAL HIGHLIGHTS

and Guidance: At December 31, 2023, Marker had cash and cash equivalents of $15.1 million. The Company believes that its

existing cash and cash equivalents will fund its operating expenses into the fourth quarter of 2025, inclusive of available drawdowns

Research and development expenses were $10.4 million for the year ended December 31, 2023, compared to $12.0 million for the year

ended December 31, 2022.

General and administrative expenses were $7.5 million for the year ended December 31, 2023, compared to $11.3 million for the year

ended December 31, 2022.

Marker reported a net loss of $8.2 million for the year ended December 31, 2023, compared to a net loss of $29.9 million for the

year ended December 31, 2022.

About multiTAA-specific T cells

The multi-tumor associated antigen (multiTAA)-specific

T cell platform 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. Since multiTAA-specific T cells are not genetically engineered, Marker believes

that its product candidates will be easier and less expensive to manufacture, with reduced toxicities, compared to current engineered

CAR-T and TCR-based approaches, and may provide patients with meaningful clinical benefits. As a result, Marker believes that its portfolio

of T cell therapies has a compelling product profile, as compared to current gene-modified CAR-T and TCR-based therapies.

About Marker Therapeutics, Inc.

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. Clinical trials that enrolled more than 200 patients across various hematological and

solid tumor indications showed that the Company's autologous and allogeneic multiTAA-specific 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.

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Forward-Looking Statements

This 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 and success of our clinical trials of our product candidates, including MT-601

and MT-401-OTS. 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 our forward-looking statements whether as a result of new information, future

events or otherwise, after the date of this press release.

Marker Therapeutics, Inc.

Consolidated Balance Sheets

Marker Therapeutics, Inc.

Consolidated Statements of Operations