Marker Therapeutics Reports Year-End 2025 Corporate and Financial Results
Rhea-AI Summary
Marker Therapeutics (Nasdaq: MRKR) reported 2025 corporate and financial results on March 18, 2026. Key clinical highlights include a 66% objective response rate in relapsed non-Hodgkin lymphoma with 50% complete responses in the Phase 1 APOLLO update.
Other items: Nature Medicine pancreatic data showing up to 84.6% disease control, manufacturing collaboration with Cellipont, Board appointment of Kathryn Penkus Corzo, and year-end cash of $17 million (funding through Q4 2026 per the company). 2025 net loss was $12.2 million.
Positive
- 66% objective response rate in relapsed non-Hodgkin lymphoma
- 50% complete response rate reported in APOLLO Phase 1 update
- 84.6% disease control rate reported in Nature Medicine pancreatic research
- Non-dilutive funding from NIH, NCI, FDA, SBIR and CPRIT
- Manufacturing collaboration with Cellipont Bioservices to advance cGMP production
Negative
- Year-end cash of $17 million, runway only to Q4 2026
- Net loss increased to $12.2 million in 2025 (from $10.7M)
- Potential near-term funding need if no additional grants received
News Market Reaction – MRKR
In the Mar 19 session, MRKR declined 1.49%, reflecting a mild negative market reaction. Argus tracked a peak move of +3.6% during that session. Argus tracked a trough of -10.7% from its starting point during tracking. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Nov 14 | Q3 2025 earnings | Positive | +3.5% | Q3 2025 results with 66% ORR, 50% CR in APOLLO and added funding. |
| Mar 31 | FY 2024 results | Positive | -3.1% | Year-end 2024 results with 78% ORR, strong safety and new funding. |
| Nov 14 | Q3 2024 earnings | Positive | -12.3% | Q3 2024 results plus new NIH SBIR grants and APOLLO progress. |
| Aug 14 | Q2 2024 earnings | Positive | -5.4% | Q2 2024 update with early APOLLO responses and added grant funding. |
| May 15 | Q1 2024 earnings | Positive | -1.7% | Q1 2024 results showing MT-601 progress and reduced operating expenses. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings and results updates often highlighted strong MT-601 data and funding but were followed more frequently by negative than positive next-day moves.
Over recent earnings cycles, Marker emphasized MT-601’s APOLLO data with high objective response rates and favorable safety, while steadily adding non-dilutive funding and extending cash runway. Year-end 2024 results showed $19.2M in cash plus grants and private placement proceeds, with net loss widening to $10.7M. Subsequent 2024–2025 quarters brought additional NIH/CPRIT grants, ATM proceeds and Q3 2025 cash of about $19M. Today’s 2025 year-end update continues that theme, combining encouraging lymphoma and pancreatic data with a cash position intended to fund operations into Q4 2026.
Key Terms
non-Hodgkin lymphoma medical
Diffuse Large B Cell Lymphoma medical
CAR-T cell therapy medical
dose-limiting toxicities medical
ICANS medical
cGMP technical
Off-the-Shelf medical
lymphodepletion medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Phase 1 APOLLO data update demonstrated encouraging clinical activity with a
Research published in Nature Medicine highlighted promising results of multi-antigen targeted T cells in pancreatic cancer
Strengthened manufacturing capabilities through collaboration with Cellipont Bioservices and expanded Board of Directors with appointment of Kathryn Penkus Corzo
HOUSTON, March 18, 2026 (GLOBE NEWSWIRE) -- Marker Therapeutics, Inc. (Nasdaq: MRKR), a clinical-stage immuno-oncology company developing next-generation T cell-based immunotherapies for hematological malignancies and solid tumors, today announced corporate updates and financial results for the year ended December 31, 2025.
“In 2025, we continued to advance MT-601, our lead Multi-Antigen Recognizing (MAR)-T cell therapy, and generated highly encouraging clinical data from our ongoing Phase 1 APOLLO study,” said Juan Vera, M.D., President and Chief Executive Officer of Marker Therapeutics. “Updated results reported last August demonstrated a
Dr. Vera continued, “Beyond lymphoma, we made important progress expanding our MAR-T platform across hematologic and solid tumors. Recent research from Baylor College of Medicine published in Nature Medicine in early 2026 showed promising results in pancreatic cancer using MAR-T cells and received national coverage on Good Morning America.”
“Looking ahead, we expect continued clinical execution across our programs, including additional APOLLO data updates and initiation of our company-sponsored pancreatic cancer clinical program, which we believe positions the next 12 to 18 months as an important value-creating period for Marker,” concluded Dr. Vera.
2025 PROGRAM UPDATES & OPERATIONAL HIGHLIGHTS
MT-601 (Lymphoma)
- MT-601, Marker’s lead MAR-T cell therapy, is being evaluated in the nationwide multicenter APOLLO study (clinicaltrials.gov identifier: NCT05798897) in patients with lymphoma who have relapsed after anti-CD19 CAR-T cell therapy or for whom CAR-T therapy is not an option.
- The Company provided an update on the Phase 1 study in August 2025 (Press Release, Aug 26, 2025) highlighting encouraging overall response rates. These data were also presented at the 67th American Society of Hematology (ASH) Annual Meeting in December 2025. Key findings from the update included:
66% objective response rate (8/12) in patients with relapsed non-Hodgkin lymphoma, including50% complete responses. Durable responses were observed (range 3-24 months).78% objective response rate (7/9) observed in patients with Hodgkin lymphoma.- Favorable safety profile across all dose levels (100×10⁶–400×10⁶ cells), with no dose-limiting toxicities (DLTs) and no ICANS reported.
- The dose expansion phase of the study is enrolling patients with anti-CD19 CAR-relapsed Diffuse Large B Cell Lymphoma (DLBCL) at the maximum dose level (400×10⁶ cells).
- Additional patient data and FDA feedback on study design are expected in the second quarter of 2026.
MT-601 (Pancreatic Cancer)
- Marker continues to advance MT-601 in pancreatic cancer, supported by non-dilutive funding from the National Institutes of Health (NIH), Small Business Innovation Research (SBIR) program and the Cancer Prevention and Research Institute of Texas (CPRIT).
- Nature Medicine publication (January 2026): Researchers at Baylor College of Medicine reported encouraging results evaluating multi-antigen targeted T cells in pancreatic cancer, demonstrating a favorable safety profile and up to
84.6% disease control rate when combined with frontline chemotherapy (Press Release, Jan 5, 2026). - Marker expects to initiate its company-sponsored pancreatic cancer program in the second quarter of 2026, incorporating learnings from prior studies.
MT-401 Off-the-Shelf Program (AML/MDS)
- Marker is evaluating MT-401, a MAR-T cell therapy targeting four antigens, as an Off-the-Shelf (OTS) product in the Phase 1 RAPID study in patients with acute myeloid leukemia (AML) or myelodysplastic syndrome (MDS).
- The study is supported by non-dilutive grant funds from National Cancer Institute (NCI), the Food and Drug Administration (FDA) and the Cancer Prevention and Research Institute of Texas (CPRIT).
ADDITIONAL 2025 CORPORATE HIGHLIGHTS
- Manufacturing collaboration with Cellipont Bioservices to advance cGMP production of MT-601. Technical transfer expected to be completed in Q2 2026.
- Kathryn Penkus Corzo, R.Ph., MBA joined the Board of Directors (November 1, 2025).
FISCAL YEAR 2025 FINANCIAL HIGHLIGHTS
Cash Position and Guidance: At December 31, 2025, Marker had cash, cash equivalents and restricted cash of
R&D Expenses: Research and development expenses were
G&A Expenses: General and administrative expenses were
Net Loss: Marker reported a net loss of
About MAR-T cells
The multi-antigen recognizing (MAR) T cell platform (formerly known as multiTAA-specific T cells) 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. Unlike other T cell therapies, MAR-T cells allow the recognition of hundreds of different epitopes within up to six tumor-specific antigens, thereby reducing the possibility of tumor escape. Since MAR-T cells are not genetically engineered, Marker believes that its product candidates will be easier and less expensive to manufacture, with an improved safety profile compared to current engineered T cell approaches and may provide patients with meaningful clinical benefits.
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. The Company was founded at Baylor College of Medicine, and clinical trials that enrolled more than 200 patients across various hematological and solid tumor indications showed that the Company’s autologous and allogeneic MAR-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. The APOLLO study is supported by the National Cancer Institute of the National Institutes of Health under Award Number R44CA291521. The Company’s pancreatic cancer program is supported by the National Cancer Institute of the National Institutes of Health (Award Number R44CA295168), and the Cancer Prevention and Research Institute of Texas (CPRIT, Award Number DP250150). Marker’s OTS program is supported by the National Cancer Institute of the National Institutes of Health (Award Number 1R44CA285177), the Food and Drug Administration Department of Health and Human Services (R01FD007272), and the Cancer Prevention and Research Institute of Texas (CPRIT, Award Number DP210042).
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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, interim results announcements and outcomes of our clinical trials of our product candidates, including MT-601 for the treatment of patients with lymphoma or pancreatic cancer, and MT-401-OTS for the treatment of patients with acute myeloid leukemia (AML) or myelodysplastic syndrome (MDS). 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 its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release except as may be required by law.
| Marker Therapeutics, Inc. Consolidated Balance Sheets (Audited) | |||||||
| December 31, | December 31, | ||||||
| 2025 | 2024 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 16,068,048 | $ | 19,192,440 | |||
| Restricted cash | 974,799 | — | |||||
| Prepaid expenses and deposits | 658,750 | 483,717 | |||||
| Other receivables | 1,369,400 | 2,346,703 | |||||
| Total current assets | 19,070,997 | 22,022,860 | |||||
| Total assets | $ | 19,070,997 | $ | 22,022,860 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable and accrued liabilities | $ | 1,299,384 | $ | 1,753,954 | |||
| Related party payable | — | 1,710,500 | |||||
| Deferred revenue | 974,799 | — | |||||
| Total current liabilities | 2,274,183 | 3,464,454 | |||||
| Total liabilities | 2,274,183 | 3,464,454 | |||||
| Stockholders’ equity: | |||||||
| Preferred stock, | — | — | |||||
| Common stock, | 16,672 | 10,708 | |||||
| Additional paid-in capital | 475,960,940 | 465,564,876 | |||||
| Accumulated deficit | (459,180,798 | ) | (447,017,178 | ) | |||
| Total stockholders’ equity | 16,796,814 | 18,558,406 | |||||
| Total liabilities and stockholders’ equity | $ | 19,070,997 | $ | 22,022,860 | |||
| Marker Therapeutics, Inc. Consolidated Statements of Operations (Audited) | |||||||
| For the Years Ended | |||||||
| December 31, | |||||||
| 2025 | 2024 | ||||||
| Revenues: | |||||||
| Grant income | $ | 3,546,669 | $ | 6,591,080 | |||
| Total revenues | 3,546,669 | 6,591,080 | |||||
| Operating expenses: | |||||||
| Research and development | 11,799,154 | 13,467,845 | |||||
| General and administrative | 4,184,806 | 4,241,607 | |||||
| Loss on early termination of vendor agreement | 453,135 | — | |||||
| Total operating expenses | 16,437,095 | 17,709,452 | |||||
| Loss from operations | (12,890,426 | ) | (11,118,372 | ) | |||
| Other income: | |||||||
| Interest income | 594,206 | 437,010 | |||||
| Other income | 117,444 | — | |||||
| Loss from operations before income taxes | (12,178,776 | ) | (10,681,362 | ) | |||
| Income tax (benefit) expense | (15,156 | ) | 49,953 | ||||
| Net loss | (12,163,620 | ) | (10,731,315 | ) | |||
| Net loss per share, basic and diluted | $ | (0.79 | ) | $ | (1.19 | ) | |
| Weighted average number of common shares outstanding: | |||||||
| Basic | 15,310,308 | 8,980,207 | |||||
| Diluted | 15,310,308 | 8,980,207 | |||||
| Marker Therapeutics, Inc. Consolidated Statements of Cash Flows (Audited) | |||||||
| For the Years Ended | |||||||
| December 31, | |||||||
| 2025 | 2024 | ||||||
| Cash Flows from Operating Activities: | |||||||
| Net loss | $ | (12,163,620 | ) | $ | (10,731,315 | ) | |
| Reconciliation of net loss to net cash used in operating activities: | |||||||
| Stock-based compensation | 537,540 | 245,864 | |||||
| Changes in operating assets and liabilities: | |||||||
| Prepaid expenses and deposits | (175,033 | ) | 504,409 | ||||
| Other receivables | 977,303 | (1,318,888 | ) | ||||
| Related party payable | (1,710,500 | ) | 380,845 | ||||
| Accounts payable and accrued expenses | (454,570 | ) | 8,761 | ||||
| Deferred revenue | 974,799 | — | |||||
| Net cash used in operating activities | (12,014,081 | ) | (10,910,324 | ) | |||
| Cash Flows from Financing Activities: | |||||||
| Proceeds from issuance of common stock, net | 9,863,883 | 14,929,155 | |||||
| Proceeds from exercise of warrants and stock options | 605 | 62,159 | |||||
| Net cash provided by financing activities | 9,864,488 | 14,991,314 | |||||
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (2,149,593 | ) | 4,080,990 | ||||
| Cash, cash equivalents, and restricted cash at beginning of the year | 19,192,440 | 15,111,450 | |||||
| Cash, cash equivalents, and restricted cash at end of the year | $ | 17,042,847 | $ | 19,192,440 | |||
Media and Investor Contact
Marker Therapeutics, Inc.
+1 (713) 400-6400
investor.relations@markertherapeutics.com
