Marker Therapeutics Reports Third Quarter 2024 Financial Results and Provides Business Updates

Corporate Updates - Marker Therapeutics, Inc. is making significant progress in its Phase 1 APOLLO study of MT-601 for lymphoma patients who have relapsed after anti-CD19 CAR-T cell therapy or where CAR-T is not an option, with preliminary safety and efficacy data expected by the end of 2024 [2][3] - The company received two $2 million Small Business Innovation Research (SBIR) grants from the NIH to support the development of MT-601 in non-Hodgkin's lymphoma and pancreatic cancer [2][4] Program Updates - The Phase 1 APOLLO study is ongoing, with sustained objective responses observed in three participants, and no severe adverse effects reported [3] - The clinical investigation of MT-601 in metastatic pancreatic cancer is expected to start in 2025 [4] - Marker anticipates initiating the clinical program for MT-401-OTS in Acute Myeloid Leukemia or Myelodysplastic Syndrome in the first half of 2025 [5] Financial Highlights - As of September 30, 2024, Marker had cash and cash equivalents of $9 million, which is expected to fund operations into October 2025 [6] - Research and development expenses for Q3 2024 were $3.5 million, up from $2.0 million in Q3 2023, reflecting increased clinical trial activity [7] - General and administrative expenses decreased to $0.9 million in Q3 2024 from $1.4 million in Q3 2023 due to cost savings from a reorganization [7] - The net loss from continuing operations for Q3 2024 was $2.3 million, compared to $3.0 million in Q3 2023 [8] Revenue and Operating Expenses - Total revenues for Q3 2024 were $1.93 million, significantly higher than $0.26 million in Q3 2023, primarily due to increased grant income [15] - Total operating expenses for Q3 2024 were $4.33 million, compared to $3.46 million in Q3 2023 [15] T Cell Therapy Platform - Marker Therapeutics' multiTAA-specific T cell platform is a novel, non-genetically modified cell therapy that expands tumor-specific T cells capable of recognizing a broad range of tumor antigens, potentially offering improved safety and clinical benefits [9][10]