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Marker Therapeutics, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in cash and cash equivalents to $9,000,000 from $15,111,000 at the end of the previous year. The decrease is attributed to operating expenses and other financial activities.
Total revenues for the quarter were $1,926,000, primarily from grant income, compared to $258,000 in the same quarter of the previous year. The increase is due to additional grant funding received.
Research and development expenses increased to $3,471,000 from $2,045,000, reflecting higher costs associated with clinical trials and outsourced manufacturing.
General and administrative expenses decreased to $855,000 from $1,413,000, primarily due to reduced consulting and headcount-related expenses.
Net loss from continuing operations for the quarter was $2,308,000, compared to $2,982,000 in the previous year. The decrease is attributed to higher grant income and lower administrative expenses.
Cash used in operating activities was $6,207,000 for the nine months ended September 30, 2024, compared to $8,036,000 in the previous year. This reflects reduced operating expenses.
Marker Therapeutics reported a working capital of $7,450,000 as of September 30, 2024, down from $14,053,000 at the end of the previous year. The reduction is due to ongoing operational expenditures.
The filing also details various grants received, including $2.0 million from the National Institutes of Health Small Business Innovation Research Program to support clinical investigations.
Marker Therapeutics continues to focus on the development and commercialization of its T cell-based immunotherapies, with ongoing clinical trials and research activities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Marker Therapeutics Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.