Marker Therapeutics, Inc. (MRKR) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MRKR SEC filings page.
Marker Therapeutics, Inc. (MRKR) reported $3.5M in revenue for fiscal year 2025, down 46.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Development-stage spending dominates Marker’s model: revenue is volatile while research investment remains the principal operating commitment.
In FY2025, revenue was$3.5M against research and development spending of$11.8M , so the cost base behaves more like a continuing development program than a volume-scaled commercial business. Operating cash flow of-$12.0M closely tracked the net loss of-$12.2M , indicating that reported losses were largely cash-backed rather than driven by substantial non-cash charges.
Revenue fell from
FY2025 liabilities of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Marker Therapeutics, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Marker Therapeutics, Inc. held $16.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $12.0M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Marker Therapeutics, Inc. scores 40/100 among other emerging companies.
Marker Therapeutics, Inc. had 17M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Marker Therapeutics, Inc. scores 23/100 among other emerging companies.
Marker Therapeutics, Inc. spent $11.8M on research and development in fiscal year 2025, which was 71.8% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Marker Therapeutics, Inc. scores 92/100 among other emerging companies.
Marker Therapeutics, Inc. reported revenue of $3.5M in fiscal year 2025, against $6.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Marker Therapeutics, Inc. scores 48/100 among other emerging companies.
Marker Therapeutics, Inc.'s operations used $12.0M of cash in fiscal year 2025, against $10.9M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Marker Therapeutics, Inc. scores 59/100 among other emerging companies.
Marker Therapeutics, Inc.'s cash, cash equivalents and investments came to $16.1M at the end of fiscal year 2025, against $2.3M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Marker Therapeutics, Inc. scores 93/100 among other emerging companies.
Marker Therapeutics, Inc. scores -29.64, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($19.2M) relative to total liabilities ($2.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Marker Therapeutics, Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Marker Therapeutics, Inc. reported a net loss of $12.2M while operations used $12.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Marker Therapeutics, Inc. reported -$1.8M in net income in Q2 2026. This represents an increase of 54.5% from the same quarter a year earlier. Against the prior quarter it is up 42.6%.
Marker Therapeutics, Inc. earned -$0.09 per diluted share (EPS) in Q2 2026. This represents an increase of 69.0% from the same quarter a year earlier. Against the prior quarter it is up 43.8%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Marker Therapeutics, Inc. held $11.3M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Marker Therapeutics, Inc.'s ROE was -15.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 23.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.0 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Marker Therapeutics, Inc. invested $1.5M in research and development in Q2 2026. This represents a decrease of 64.7% from the same quarter a year earlier. Against the prior quarter it is down 48.1%.
Not reported for Q2 2026.
Not reported for Q2 2026.
MRKR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $752K+115.3% | $1.1M-51.0% | $1.2M-36.0% | $861K-26.3% | $349K-71.9% | $2.3M+113.1% | $1.9M+647.7% |
| R&D Expenses | $1.5M-64.7% | $2.8M-9.3% | $2.1M-57.9% | $2.3M-32.4% | $4.2M+78.9% | $3.1M+21.8% | $5.1M+94.3% | $3.5M+69.7% |
| SG&A Expenses | $1.1M+21.1% | $1.2M-10.2% | $847K-17.6% | $1.0M+19.8% | $945K-17.2% | $1.4M+12.4% | $1.0M-25.4% | $855K-39.5% |
| Operating Income | -$2.6M+48.8% | -$4.1M+17.9% | -$674K+82.6% | -$2.1M+11.0% | -$5.1M-121.9% | -$5.0M-94.5% | -$3.9M-31.4% | -$2.4M+25.0% |
| Net Income | -$1.8M+54.5% | -$3.2M+28.5% | -$1.7M+55.6% | -$2.0M+13.4% | -$4.0M-83.1% | -$4.4M-85.8% | -$3.8M-36.9% | -$2.3M+22.6% |
| EPS (Basic) | -$0.09+69.0% | -$0.16+60.0% | -$0.04+90.5% | -$0.12+53.8% | -$0.29-16.0% | -$0.40-48.1% | -$0.42-31.2% | -$0.26+23.5% |
| EPS (Diluted) | -$0.09+69.0% | -$0.16 | -$0.04 | -$0.12 | -$0.29 | -$0.40-48.1% | -$0.42-31.2% | -$0.26+23.5% |
| Diluted Shares (Avg) | 19M+38.4% | 19M | N/A | 17M | 14M | 11M+24.8% | N/A | 9M+1.1% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, EBITDA, Interest Expense, Income Tax.
MRKR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $14.6M-1.2% | $17.4M+2.6% | $19.1M-13.4% | $21.7M+99.2% | $14.8M+26.5% | $17.0M+20.6% | $22.0M+28.6% | $10.9M-44.0% |
| Current Assets | $14.6M-1.2% | $17.4M+2.6% | $19.1M-13.4% | $21.7M+99.2% | $14.8M+26.5% | $17.0M+20.6% | $22.0M+28.6% | $10.9M-44.0% |
| Cash & Equivalents | $11.3M+8.3% | $14.9M+8.9% | $16.1M-16.3% | $17.6M+95.5% | $10.5M+34.1% | $13.7M+20.9% | $19.2M+27.0% | $9.0M-48.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $2.4M-43.4% | $3.6M+45.4% | $2.3M-34.4% | $3.3M-3.3% | $4.3M+116.9% | $2.5M+8.6% | $3.5M+12.7% | $3.5M+24.5% |
| Current Liabilities | $2.4M-43.4% | $3.6M+45.4% | $2.3M-34.4% | $3.3M-3.3% | $4.3M+116.9% | $2.5M+8.6% | $3.5M+12.7% | $3.5M+24.5% |
| Non-Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Equity | $12.2M+16.0% | $13.8M-4.8% | $16.8M-9.5% | $18.4M+146.8% | $10.5M+8.1% | $14.5M+22.9% | $18.6M+32.1% | $7.4M-55.4% |
| Retained Earnings | -$464.2M-1.9% | -$462.4M-2.4% | -$459.2M-2.7% | -$457.5M-3.2% | -$455.5M-3.3% | -$451.5M-2.9% | -$447.0M-2.5% | -$443.2M-2.2% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
MRKR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.7M-97.8% | -$1.4M+74.5% | -$1.9M+59.6% | -$2.7M-328.5% | -$1.9M+47.3% | -$5.5M-43.3% | -$4.7M-98.6% | $1.2M+206.2% |
| Stock-Based Compensation | $196K+1299.5% | $178K-52.9% | N/A | $33K-37.7% | $14K-77.8% | $379K+377.4% | N/A | $53K-69.7% |
| Financing Cash Flow | N/A | N/A | $0-100.0% | $9.9M+579787.3% | $100-99.8% | $505-99.0% | $14.9M+289985.9% | $2K-99.6% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid, Share Buybacks.
MRKR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | -541.8% | -61.1% | -173.3% | -594.8% | -1420.1% | -171.5% | -124.6% |
| Net Margin | N/A | -422.9% | -154.4% | -162.1% | -466.3% | -1273.6% | -170.4% | -119.8% |
| Return on Equity | -15.0%+23.3pp | -23.0%+7.6pp | -10.1%+10.5pp | -10.9%+20.1pp | -38.3%-15.7pp | -30.7%-10.4pp | -20.7%-0.7pp | -31.0%-13.1pp |
| Return on Assets | -12.5%+14.7pp | -18.2%+7.9pp | -8.9%+8.5pp | -9.2%+12.0pp | -27.2%-8.4pp | -26.2%-9.2pp | -17.4%-1.1pp | -21.2%-5.9pp |
| Current Ratio | 6.03+2.6x | 4.79-2.0x | 8.39+2.0x | 6.50+3.3x | 3.45-2.5x | 6.79+0.7x | 6.36+0.8x | 3.15-3.9x |
| Debt-to-Equity | 0.20-0.2x | 0.26+0.1x | 0.14-0.1x | 0.18-0.3x | 0.41+0.2x | 0.170.0x | 0.190.0x | 0.46+0.3x |
| Asset Turnover | N/A | 0.040.0x | 0.060.0x | 0.06-0.1x | 0.060.0x | 0.02-0.1x | 0.100.0x | 0.18+0.2x |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Marker Therapeutics, Inc. MRKR | FY2025 | $3.5M | -$12.2M | N/A | $19.2M | 59/100 |
| Adaptimmune Therapeutics plc American ADAP | FY2024 | $178.0M | -$70.8M | -39.8% | $14.6M | 45/100 |
| Sensei Biotherapeutics, Inc. SNSE | FY2025 | N/A | -$21.1M | N/A | $18.6M | — |
| Briacell Therapeutics Corp. BCTX | FY2025 | N/A | -$26.3M | N/A | $31.6M | — |
| Phio Pharmaceuticals Corp. PHIO | FY2025 | N/A | -$8.7M | N/A | $12.0M | — |
| Leap Therapeutics, Inc. LPTX | FY2025 | N/A | $5.0M | N/A | $116.1M | — |
Where Marker Therapeutics, Inc. Ranks
Frequently Asked Questions
What is Marker Therapeutics, Inc.'s annual revenue?
Marker Therapeutics, Inc. (MRKR) reported $3.5M in total revenue for fiscal year 2025. This represents a -46.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Marker Therapeutics, Inc.'s revenue growing?
Marker Therapeutics, Inc. (MRKR) revenue declined by 46.2% year-over-year, from $6.6M to $3.5M in fiscal year 2025.
Is Marker Therapeutics, Inc. profitable?
No, Marker Therapeutics, Inc. (MRKR) reported a net income of -$12.2M in fiscal year 2025.
What is Marker Therapeutics, Inc.'s return on equity (ROE)?
Marker Therapeutics, Inc. (MRKR) has a return on equity of -72.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Marker Therapeutics, Inc.'s operating cash flow?
Marker Therapeutics, Inc. (MRKR) recorded an outflow of $12.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Marker Therapeutics, Inc.'s total assets?
Marker Therapeutics, Inc. (MRKR) had $19.1M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Marker Therapeutics, Inc. spend on research and development?
Marker Therapeutics, Inc. (MRKR) invested $11.8M in research and development during fiscal year 2025.
What is Marker Therapeutics, Inc.'s current ratio?
Marker Therapeutics, Inc. (MRKR) had a current ratio of 8.39 as of fiscal year 2025, which is generally considered healthy.
What is Marker Therapeutics, Inc.'s debt-to-equity ratio?
Marker Therapeutics, Inc. (MRKR) had a debt-to-equity ratio of 0.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Marker Therapeutics, Inc.'s return on assets (ROA)?
Marker Therapeutics, Inc. (MRKR) had a return on assets of -63.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Marker Therapeutics, Inc.'s P/E ratio?
Marker Therapeutics, Inc. (MRKR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $19.2M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Marker Therapeutics, Inc.'s price-to-sales ratio?
Marker Therapeutics, Inc. (MRKR) trades at 5.4x sales, its market capitalization divided by revenue of $3.5M revenue, FY2025. The market capitalization is $19.2M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Marker Therapeutics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Marker Therapeutics, Inc. (MRKR) held $16.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $12.0M over that year. Dividing the one by the other, the reported balance equals about 16 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Marker Therapeutics, Inc.'s Altman Z-Score?
Marker Therapeutics, Inc. (MRKR) has an Altman Z-Score of -29.64, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Marker Therapeutics, Inc.'s Piotroski F-Score?
Marker Therapeutics, Inc. (MRKR) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Marker Therapeutics, Inc.'s earnings high quality?
Marker Therapeutics, Inc. (MRKR) reported a net loss of $12.2M while operations used $12.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Marker Therapeutics, Inc.?
Marker Therapeutics, Inc. (MRKR) scores 59 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.