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Marker Therapeutics Inc. (MRKR-1.59%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, showing a net loss from continuing operations of $10.7 million for the year. This represents a decrease from the $14.0 million loss reported in the previous year.
Research and development expenses increased by 29% to $13.5 million, primarily due to outsourced clinical manufacturing costs and process development expenses.
General and administrative expenses decreased by 43% to $4.2 million, attributed to reductions in headcount-related expenses and legal fees.
Marker Therapeutics reported $6.6 million in grant income for the year, a significant increase from $3.3 million in the prior year, primarily from the Cancer Prevention and Research Institute of Texas and other grants.
The company continues to focus on the development of its MAR-T cell therapy platform, advancing product candidates for lymphoma and pancreatic cancer.
Marker Therapeutics has secured additional funding through a private placement, raising $16.1 million in gross proceeds, which will be used for general corporate purposes and working capital.
The company has also entered into agreements to terminate its manufacturing operations, now relying on third-party vendors for clinical and commercial manufacturing.
Marker Therapeutics plans to raise additional capital to fund operations into the first quarter of 2026, with plans to continue developing its product pipeline and manufacturing capabilities.
The filing outlines various risks, including the company's dependence on third-party vendors, regulatory approval processes, and potential competition in the biotechnology sector.
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. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.