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MRKR

Marker Therapeutics, Inc.

MRKR

Marker Therapeutics, Inc. • NASDAQ
$1.24 ▲ 1.64% (+0.02)
Market Cap $13.39 M
52w High $5.95
52w Low $0.81
Dividend Yield 0%
P/E -1.06
Volume 180.79K
Outstanding Shares 10.80M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.233M ▲ $3.37M ▲ $-1.999M ▲ -162.106% ▲ $-0.12 ▲ $-1.999M ▲
Q2-2025 $861.184K ▲ $945.163K ▼ $-4.016M ▲ -466.284% ▲ $-0.29 ▲ $-4.261M ▼
Q1-2025 $349.104K ▼ $1.822M ▲ $-4.446M ▼ -1.274K% ▼ $-0.4 ▲ $0 ▲
Q4-2024 $2.252M ▲ $1.027M ▲ $-3.838M ▼ -170.428% ▼ $-0.42 ▼ $-3.861M ▼
Q3-2024 $1.926M $854.677K $-2.308M -119.834% $-0.26 $-2.4M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $17.59M ▲ $21.735M ▲ $3.346M ▼ $18.389M ▲
Q2-2025 $10.462M ▼ $14.768M ▼ $4.277M ▲ $10.49M ▼
Q1-2025 $13.693M ▼ $16.993M ▼ $2.501M ▼ $14.492M ▼
Q4-2024 $19.192M ▲ $22.023M ▲ $3.464M ▲ $18.558M ▲
Q3-2024 $9M $10.91M $3.461M $7.45M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.999M ▲ $-2.736M ▼ $0 $9.864M ▲ $7.128M ▲ $-2.736M ▼
Q2-2025 $-4.016M ▲ $-1.878M ▲ $0 $100 ▼ $-1.878M ▲ $-1.878M ▲
Q1-2025 $-4.446M ▼ $-5.5M ▼ $0 $505 ▼ $-5.499M ▼ $-5.5M ▼
Q4-2024 $-3.838M ▼ $-4.703M ▼ $0 $14.896M ▲ $10.193M ▲ $-4.703M ▼
Q3-2024 $-2.308M $1.197M $0 $1.701K $1.199M $1.198M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Grant
Grant
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Marker Therapeutics is still a pure R&D story with essentially no commercial revenue. The income statement is driven almost entirely by research and operating costs, which continue to exceed any income, leading to ongoing losses each year. The scale of those losses has been trimmed somewhat over the last few years, suggesting tighter cost control and a leaner operating model. Still, the business is very far from profitability and remains dependent on external funding rather than internal cash generation.

Balance Sheet

Balance Sheet The balance sheet is small and simple. Assets are limited and dominated by cash and equivalents, with only modest other assets. Debt is minimal to nonexistent, which reduces financial pressure but also reflects that the company is funded mostly through equity and grants. Shareholders’ equity is positive but not large, indicating a thin capital base. Overall, the balance sheet looks clean but constrained, with little cushion if funding conditions worsen.

Cash Flow

Cash Flow Cash flows show a consistent pattern of money flowing out to fund operations and clinical work, with no meaningful inflows from sales. Operating cash burn has been steady to slightly lower in recent years, pointing to more disciplined spending but still a regular drain on cash. Capital spending is light, so most cash use is tied directly to R&D and overhead rather than big facilities or equipment. The company’s ability to continue its programs depends heavily on raising new capital or securing additional non-dilutive funding.

Competitive Edge

Competitive Edge Marker operates in a highly competitive and fast-moving part of biotech: cell-based cancer immunotherapies. Its main edge is a differentiated T‑cell platform that is not genetically engineered and targets multiple tumor markers at once, aiming for better safety and more durable responses compared with traditional single-target engineered cell therapies. Early clinical signals, especially in difficult lymphoma patients, appear encouraging on both safety and activity. That said, the company is small, pre-commercial, and competing against much larger players with deeper pockets and more advanced products, which creates execution and partnering risk.

Innovation and R&D

Innovation and R&D Innovation is the core of Marker’s story. The company is developing multi-antigen recognizing T‑cell therapies designed to use a patient’s or donor’s immune system without complex genetic modifications. This approach could offer lower manufacturing complexity, potentially lower cost, and a more favorable side-effect profile. The pipeline spans both personalized and “off‑the‑shelf” products, including programs in blood cancers and an upcoming push into solid tumors. Progress so far has been mostly in early-stage trials, so while the scientific concept is compelling, it still needs to be validated through larger, later-stage studies.

Summary

Marker Therapeutics is an early-stage oncology biotech with a highly specialized T‑cell platform, almost no current revenue, and a financial profile typical of a development-stage company: recurring losses, modest but clean balance sheet, and ongoing cash burn. Its scientific approach and early clinical data hint at real promise, especially in safety and multi-targeting capability, but the company faces the usual biotech uncertainties around trial outcomes, regulatory approval, and future funding. The story is fundamentally about whether its innovative cell therapy platform can translate into successful late-stage data and, eventually, a viable commercial product before financial resources become too tight.

NEWS

November 14, 2025 · 7:00 AM UTC

Marker Therapeutics Reports Third Quarter 2025 Financial Results and Provides Business Updates

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November 5, 2025 · 7:30 AM UTC

Marker Therapeutics appoints Kathryn Penkus Corzo to Board of Directors

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November 3, 2025 · 9:15 AM UTC

Marker Therapeutics Announces Upcoming Presentations on MT-601 in Relapsed Non-Hodgkin and Hodgkin Lymphoma at the 67th ASH Annual Meeting

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October 6, 2025 · 7:30 AM UTC

Marker Therapeutics Announces First Patient Treated in Off-the-Shelf Program

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