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Tag: MRKR

  • Marker Therapeutics, Inc. (MRKR) Stock Rebounds Aftermarket Following SEC Filing.

    Marker Therapeutics, Inc. (MRKR) is a late-stage cancer therapeutics company specialized in the production of T cell-based immunotherapeutics for treating oncological issues. The company’s lead candidates are not much expensive to produce and have lesser toxicities.

    The price of MRKR stock during the regular trading on February 18, 2022, was $0.41 with a decline of 9.19%. At last check in the aftermarket, the stock surged by 10.8%.

    MRKR: Events and Happenings

    On February 18, 2022, MRKR announced filing the report of unscheduled material events or corporate events with the SEC.

    MRKR: CEO Comments

    On February 17, 2022, MRKR updated about its clinical programs, production procedure, and pipeline. Speaking at the occasion, MRKR’s CEO Peter L. Hoang stated that the company’s T cell production procedure is designed to manufacture an increased potency product with enhanced antigen specificity. He further added that the company is planning to expand its pipeline to pancreatic cancer patients.

    On January 19, 2022, MRKR reported about the grant of Orphan Drug Designation by the FDA’s Office of Orphan Products Development to MT-601. On November 18, 2021, MRKR announced that the data from Phase 1 clinical trials of MultiTAA-specific T cells were selected for presentation at the American Society of Hematology Annual Meeting 2021 held on December 11-14, 2021.

    MRKR: Key Financials

    On November 10, 2021, MRKR released its financial results for the third quarter ended September 30, 2021. Some of the key updates are discussed below.

    Revenue

    No revenue was reported in Q3 2021 as in the same quarter of 2020.

    EPS

    Basic and diluted net loss per share in the third quarter of 2021 was $12.4 million or $0.15 as compared to net income of $7.37 million or $0.16 in the same period of 2020. The company observed an increase in EPS over the period of the year. Also, the company missed the analysts’ estimates by -$0.02.

    On September 7, 2021, MRKR reported about its Executive management’s presence at the following three investor conferences.

    • C. Wainwright Virtual Annual Global Investment Conference on September 13,
    • Oppenheimer Virtual Fall Healthcare Life Sciences & MedTech Summit on September 22, and
    • Cantor Fitzgerald Virtual Global Healthcare Conference on September 27, 2021.

     Conclusion

    MRKR stock is 84% down the past year as the companies faced an economic crisis in the pandemic. The current aftermarket stock incline is the result of a recent filing with the SEC. As the company is gearing for its earnings release date, the analysts are estimating EPS to be -$0.13.

     

  • Marker Therapeutics Inc. (MRKR) stock Bullish After Hours on News of FDA Designation

    Marker Therapeutics Inc. (MRKR) stock Bullish After Hours on News of FDA Designation

    On January 19, Marker Therapeutics Inc. (MRKR) announced FDA Orphan Drug designation for its pancreatic cancer T-cell therapy. Following the announcement, the stock became bullish in the after-hours on Wednesday.

    In the regular trading session, MRKR stock declined by 2.69% at its closing price of $0.8396. Consequent to the news, the stock added 13.15% at a heavy volume of 2.9 million shares in the after-hours. Therefore, the stock was trading at $0.9500 per share in the after-hours session.

    Marker Therapeutics Inc., the clinical-stage immune-oncology company has a market capitalization of $71.68 million. Currently, the company has 83.08 million shares outstanding in the market. Furthermore, MRKR stock has added 4.04% in the past five days. As of now, the stock stands at a year-to-date loss of 11.64% while it subtracted 61.84% last year.

    MRKR’s FDA Designation

    As per the announcement, MRKR’s MT-601 has been granted orphan drug designation by the FDA Office of Orphan Products Development. The MT-601 is the company’s multi-tumor-associated antigen-specific T cell product developed for pancreatic cancer treatment.

    Moreover, MT-601 has been reported to show encouraging results in its ongoing Phase 1 trial. The trial is sponsored by the company’s partners at the Baylor College of Medicine. Additionally, MT-601’s data was recently presented at the 2020 American Society of Clinical Oncology Virtual Annual Meeting. According to the data, in combination with chemotherapy MT-601 has shown safe, durable responses as first-line treatment for pancreatic cancer.

    Further, the company plans to commence a Phase 1 multicenter study of MT-601 in combination with chemotherapy. The study will evaluate MT-601 in locally advanced unresectable or metastatic pancreatic cancer.

    Also, in 2022, the company intends to file an Investigational New Drug Application for MT-601 for pancreatic cancer treatment.

    In addition, MRKR may receive certain benefits like grant funding, user-fee benefits, tax credits, etc., from FDA under its Orphan Drug Act.

    Recent Addition to the Board

    On December 09, the company announced the addition of Katharine Knobil, M.D. to its Board of Directors. Currently, Dr. Knobil serves at Agilent Technologies, Inc. as its Chief Medical Officer.

    MRKR’s Q3 Highlights

    In the third quarter of 2021, the company incurred a net loss of $12.4 million, against $7.4 million in the year-ago quarter.

    MRKR ended the quarter with cash and cash equivalents of $48.7 million. Thus, the company believes it to enough to fund its expenses into the first quarter of 2023.

  • Marker Therapeutics (MRKR) stock plunged today in the market; Here’s why

    Marker Therapeutics (MRKR) stock plunged today in the market; Here’s why

    The stock of Marker Therapeutics plunged today by -4.26% to the current price of $1.80. The MRKR stock previously closed at $1.88.

    Marker Therapeutics Inc. is a biotechnology firm that descriptively is a clinical-stage immune-oncology company. MRKR specializes in the development, production, and commercialization of different gene and T-cell-based immunotherapies. They also focus on peptide-based vaccines, which are used for the cure and treatment of hematological malignancies and work as indicators for solid tumors.

    Major shareholder buys more than 5 million shares of MRKR

    The major shareholder of the MRKR stock, Paul Edward Walker, acquired 5,714,285 shares of its stock. This transaction took place on 16th March, where the stakes were acquired at an average price of $1.75. The news of this purchase was publicly recorded and filed with the Securities & Exchange Commission SEC.

    On a similar day, the biotech company announced the closing of an underwritten public offering of more than 32 million (precisely 32,282,857) shares of its common stock. These shares were also priced at $1.75. Usually, in a significant transaction of this size, the gross proceeds have certain deductions that are made related to underwriting discounts, commissions as well as offering expenses. The net proceeds that will be received by Marker Therapeutics are equal to %56.5 million.

    This offering had many book-running managers for it. Oppenheimer and Co. Inc. acted as the lead manager while Piper Sandler & Co. and Cantor Fitzgerald & Co. also served as the book-running managers for the offering. Roth Capital Partners acted as the co-manager for the offering.

    Reinforced positive market sentiment for MRKR

    On 8th March 2021, MRKR posted its earnings which showed that the company had missed Zacks Consensus Estimate of $0.16 while it reported $0.18 earnings per share.

    However, the overall market sentiment for this stock has been lifting up as several key institutional investors and hedge funds, as well as analysts, have made positive comments and actions regarding MRKR stock. GSA Capital Partners LLP, State Street Corp, Vigilare Wealth Management, and Jane Street Group LLC have acquired new shares in the 3rd and 4th quarters of 2020.

    Analysts give “buy” and “overweight” ratings to the stock

    Oppenheimer has issued a “buy” rating to the MRKR stock set at $8.00, while Cantor Fitzgerald & Co. started coverage on MRKR while giving it an overweight rating at a price objective of $6.00.

    The MRKR stock news will continue to be positive due to institutional investors & hedge funds. Mainly the focus of all the concerned parties will be towards the anticipation of the current quarter’s financial report.