Marker Therapeutics (MRKR)


Market Price (10/15/2026): $0.8903 | Market Cap: $17.2 MilSector: Health Care | Industry: Biotechnology

Marker Therapeutics (MRKR)


Market Price (10/15/2026): $0.8903
Market Cap: $17.2 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -66%

Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, Precision Medicine, and Aging Population & Chronic Disease. Themes include Gene Editing & Therapy, Show more.

Weak multi-year price returns
2Y Excs Rtn is -101%, 3Y Excs Rtn is -157%

Penny stock
Mkt Price is 0.9

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -9.3 Mil

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -54%

Key risks
MRKR key risks include [1] an ongoing need for future dilutive financing to fund operations, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -66%
1 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, Precision Medicine, and Aging Population & Chronic Disease. Themes include Gene Editing & Therapy, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -101%, 3Y Excs Rtn is -157%
3 Penny stock
Mkt Price is 0.9
4 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -9.3 Mil
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -54%
7 Key risks
MRKR key risks include [1] an ongoing need for future dilutive financing to fund operations, Show more.

MRKR in ETFs

Weight = MRKR's share of each fund

VTI0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/8/2026

Marker Therapeutics (MRKR) stock has lost about 40% since 6/30/2026 because of the following key factors:

1. Shareholders experienced significant dilution, with total shares outstanding growing by 28.9% in the past year.

2. Marker Therapeutics reported a net loss of -$1.83 million for fiscal Q2 2026, with an expectation of continued losses as earnings are projected to decrease from ($0.64) to ($1.23) per share in the next year. Show more
Updated on 10/8/2026

Marker Therapeutics (MRKR) stock has lost about 40% since 6/30/2026 because of the following key factors:

1. Shareholders experienced significant dilution, with total shares outstanding growing by 28.9% in the past year.

2. Marker Therapeutics reported a net loss of -$1.83 million for fiscal Q2 2026, with an expectation of continued losses as earnings are projected to decrease from ($0.64) to ($1.23) per share in the next year. Furthermore, as of year-end 2025, the company's cash and restricted cash were stated to fund operations only through fiscal Q4 2026, raising concerns about long-term financing.

3. Despite beating analyst consensus for fiscal Q2 2026 earnings per share (EPS) by $0.16, the company's projected earnings outlook for the next year anticipates a significant decrease in EPS from ($0.64) to ($1.23) per share.

4. The U.S. biopharma market became more selective in fiscal Q3 2026, causing clinical-stage and small- to mid-cap companies like Marker Therapeutics (with a market capitalization of approximately $17 million as of October 2026) to lag their larger-cap and commercial-stage counterparts. This cautious sentiment was exacerbated by the Federal Reserve's 25-basis-point interest rate hike in September.

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Stock Movement Drivers

Fundamental Drivers

The -39.4% change in MRKR stock from 6/30/2026 to 10/14/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)630202610142026Change
Stock Price ($)1.470.89-39.4%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)19190.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/14/2026
ReturnCorrelation
MRKR-39.4% 
Market (SPY)3.1%18.8%
Sector (XLV)9.6%27.6%

Fundamental Drivers

The -31.5% change in MRKR stock from 3/31/2026 to 10/14/2026 was primarily driven by a 0.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)331202610142026Change
Stock Price ($)1.300.89-31.5%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)19190.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/14/2026
ReturnCorrelation
MRKR-31.5% 
Market (SPY)18.6%18.1%
Sector (XLV)19.2%17.4%

Fundamental Drivers

The -0.3% change in MRKR stock from 9/30/2025 to 10/14/2026 was primarily driven by a -27.7% change in the company's Shares Outstanding (Mil).
(LTM values as of)930202510142026Change
Stock Price ($)0.890.89-0.3%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)1419-27.7%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/14/2026
ReturnCorrelation
MRKR-0.3% 
Market (SPY)16.5%17.4%
Sector (XLV)26.6%17.0%

Fundamental Drivers

The -80.4% change in MRKR stock from 9/30/2023 to 10/14/2026 was primarily driven by a -54.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)930202310142026Change
Stock Price ($)4.540.89-80.4%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)919-54.4%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/14/2026
ReturnCorrelation
MRKR-80.4% 
Market (SPY)86.2%19.0%
Sector (XLV)41.5%15.9%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MRKR Return-34%-72%107%-43%-52%-38%-94%
Peers Return-46%-69%-32%-31%-26%99%-89%
S&P 500 Return27%-19%24%23%16%14%108%

Monthly Win Rates [3]
MRKR Win Rate33%33%67%25%33%40% 
Peers Win Rate40%27%35%40%38%48% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
MRKR Max Drawdown-73%-76%-82%-58%-74%-58% 
Peers Max Drawdown-63%-76%-79%-74%-65%-50% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: IOVA, ATRA, ALLO, FATE, NKTX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/14/2026 (YTD)

How Low Can It Go

EventMRKRS&P 500
2025 US Tariff Shock
  % Loss-35.5%-18.8%
  % Gain to Breakeven55.0%23.1%
  Time to Breakeven56 days79 days
2023 SVB Regional Banking Crisis
  % Loss-70.3%-6.7%
  % Gain to Breakeven236.6%7.1%
  Time to Breakeven70 days31 days
2020 COVID-19 Crash
  % Loss-41.1%-33.7%
  % Gain to Breakeven69.8%50.9%
  Time to Breakeven49 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-37.7%-3.7%
  % Gain to Breakeven60.4%3.9%
  Time to Breakeven385 days6 days
2013 Taper Tantrum
  % Loss-82.8%-0.2%
  % Gain to Breakeven481.6%0.2%
  Time to Breakeven190 days1 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-45.2%-17.9%
  % Gain to Breakeven82.4%21.8%
  Time to Breakeven963 days123 days

Compare to IOVA, ATRA, ALLO, FATE, NKTX

In The Past

Marker Therapeutics's stock fell -35.5% during the 2025 US Tariff Shock. Such a loss loss requires a 55.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventMRKRS&P 500
2025 US Tariff Shock
  % Loss-35.5%-18.8%
  % Gain to Breakeven55.0%23.1%
  Time to Breakeven56 days79 days
2023 SVB Regional Banking Crisis
  % Loss-70.3%-6.7%
  % Gain to Breakeven236.6%7.1%
  Time to Breakeven70 days31 days
2020 COVID-19 Crash
  % Loss-41.1%-33.7%
  % Gain to Breakeven69.8%50.9%
  Time to Breakeven49 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-37.7%-3.7%
  % Gain to Breakeven60.4%3.9%
  Time to Breakeven385 days6 days
2013 Taper Tantrum
  % Loss-82.8%-0.2%
  % Gain to Breakeven481.6%0.2%
  Time to Breakeven190 days1 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-45.2%-17.9%
  % Gain to Breakeven82.4%21.8%
  Time to Breakeven963 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-61.9%-15.4%
  % Gain to Breakeven162.5%18.2%
  Time to Breakeven265 days125 days
2008-2009 Global Financial Crisis
  % Loss-87.1%-53.4%
  % Gain to Breakeven675.0%114.4%
  Time to Breakeven214 days1085 days

Compare to IOVA, ATRA, ALLO, FATE, NKTX

In The Past

Marker Therapeutics's stock fell -35.5% during the 2025 US Tariff Shock. Such a loss loss requires a 55.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Marker Therapeutics (MRKR)

Marker Therapeutics, Inc. (MRKR) is a clinical-stage immuno-oncology company dedicated to developing innovative treatments for various cancers, including hematological malignancies and solid tumors, primarily within the United States. The company's foundational technology is its MultiTAA-specific T cell platform. This approach involves creating non-engineered T cells that are specifically trained to identify and eliminate cancer cells by targeting multiple tumor-associated antigens, offering a precise method to combat complex tumors.

Marker's product pipeline leverages this T cell technology in several forms: autologous T cells for treating lymphomas and a range of solid tumors, and allogeneic T cells for acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). They are also working on "off-the-shelf" T cell products for wider applicability. In addition to T cell therapies, the company is developing peptide-based immunotherapeutic vaccines, specifically TPIV100/110 and TPIV200, which are in clinical trials for breast and ovarian cancers. The primary customers are patients afflicted with these challenging cancers, and the company operates within the specialized market of advanced cancer therapeutics.

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Here are 1-2 brief analogies for Marker Therapeutics (MRKR):

  • Like a clinical-stage version of Gilead's Kite Pharma, but developing unique, non-engineered T-cell therapies for cancer.
  • Like a clinical-stage BioNTech or Moderna, but focused on peptide-based cancer vaccines.

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  • MultiTAA-specific T cell therapies (Autologous): Patient-derived T cell therapies designed to recognize multiple tumor-associated antigens for the treatment of lymphoma and various solid tumors.
  • MultiTAA-specific T cell therapies (Allogeneic): Donor-derived T cell therapies for acute myeloid leukemia and acute lymphoblastic leukemia.
  • MultiTAA-specific T cell therapies (Off-the-shelf): Pre-manufactured T cell products designed for immediate use across various indications.
  • TPIV100/110: Peptide-based immunotherapeutic vaccines developed for the treatment of breast and ovarian cancers.
  • TPIV200: A peptide-based immunotherapeutic vaccine currently in Phase 2 clinical trials for breast and ovarian cancers.

AI Analysis | Feedback

Marker Therapeutics (MRKR) is a clinical-stage immuno-oncology company primarily engaged in the development of T cell-based immunotherapies and peptide-based vaccines. As a company still in the clinical trial phase for its product candidates, it does not yet have commercially available products or major customers in the traditional sense of selling to other companies or individuals. Its focus is on research, development, and conducting clinical trials to bring potential therapies to market.

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Here is the management team for Marker Therapeutics (MRKR):

Juan F. Vera, M.D. Chief Executive Officer, Principal Financial Officer and Principal Accounting Officer

Dr. Vera is a co-founder of Marker Therapeutics and has over 20 years of experience in developing T cell therapies for clinical applications and extensive expertise in adoptive T cell therapy research. He has played a key role in transitioning therapeutic candidates from research to clinical application and from academia to industry. Prior to his appointment as CEO, Dr. Vera served as Chief Operating Officer and Chief Scientific Officer of Marker Therapeutics. He has previously collaborated with Celgene and Bluebird Bio in developing novel CAR T cell therapies and is also a co-founder of AlloVir. According to a company executive list, Dr. Vera also serves as the Principal Financial Officer and Principal Accounting Officer.

Patricia Allison Head of Clinical Operations

Patricia Allison serves as the Head of Clinical Operations at Marker Therapeutics.

Mary Newman Head of Regulatory Affairs

Mary Newman is a regulatory affairs expert with a career spanning 35 years. She has led and overseen numerous early and late-stage development programs, providing regulatory and development strategies for small molecules, biologics, and cell and gene therapies across a broad range of therapeutic areas, including rare disease, ophthalmology, and oncology. Ms. Newman previously held positions as Chief Development Officer at Taysha Gene Therapies and Senior Vice-President, Regulatory Affairs at Astellas Gene Therapies (formerly Audentes Therapeutics).

Edmund Cheung Vice President, Human Resources

Edmund Cheung possesses over twenty years of professional experience in the Human Resources field. Before joining Marker Therapeutics, he was the Associate Vice President of Human Resources at Baylor Genetics. His past experience also includes management and HR roles at Baker Hughes and Houston Methodist Hospital.

Dr. F. Andrew Dorr M.D. Chief Medical Officer

Dr. F. Andrew Dorr M.D. serves as the Chief Medical Officer for Marker Therapeutics, Inc.

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Key Risks to Marker Therapeutics (MRKR)

  1. Clinical Development and Regulatory Approval Risk: As a clinical-stage immuno-oncology company, Marker Therapeutics' success is contingent upon the successful development of its product candidates, including MultiTAA-specific T cell therapies and peptide-based vaccines, through rigorous and lengthy clinical trials. The inherent high failure rate of experimental drugs in clinical development, potential for adverse events, and stringent regulatory approval processes by agencies like the FDA represent a significant risk. Failure to demonstrate safety and efficacy in clinical trials or to obtain necessary regulatory approvals would prevent the commercialization of its products and severely impact the business.
  2. Funding and Liquidity Risk: Marker Therapeutics, being a clinical-stage company, does not yet generate significant revenue from product sales and relies heavily on external funding to finance its research and development activities, including ongoing and future clinical trials. The development of novel immunotherapies is a capital-intensive process. There is a risk that the company may not be able to obtain additional financing on favorable terms, or at all, which could delay, reduce the scope of, or terminate its product development programs and impact its ability to continue operations.
  3. Commercialization and Market Adoption Risk: Even if Marker Therapeutics' product candidates receive regulatory approval, there is no guarantee of commercial success. The immuno-oncology market is highly competitive and rapidly evolving, with numerous established pharmaceutical companies and other biotechnology firms developing competing therapies. Challenges include achieving market acceptance by physicians and patients, securing adequate pricing and reimbursement from payers, manufacturing at scale, and effectively competing with existing or future treatments for hematological malignancies and solid tumors.

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  • The emergence and rapid advancement of highly efficacious and scalable off-the-shelf engineered T-cell therapies (such as allogeneic CAR-T or TCR-T therapies) from competitors, which could overshadow Marker Therapeutics' non-engineered MultiTAA-specific T-cell technology, particularly in its ambition for off-the-shelf products.
  • The increasing success and market penetration of personalized neoantigen vaccines, particularly those utilizing advanced mRNA technology, which could offer superior efficacy and specificity compared to Marker Therapeutics' peptide-based immunotherapeutic vaccines (TPIV100/110, TPIV200).

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Marker Therapeutics, Inc. (MRKR) develops T cell-based immunotherapies and peptide-based vaccines for hematological malignancies and solid tumor indications. The addressable market sizes for their main products and services are outlined below, with market regions specified.

MultiTAA-specific T Cell Technology (Non-engineered tumor-specific T cells)

  • Overall T-cell Therapy Market (Global): The global T-cell therapy market is projected to reach between USD 9.0 billion and USD 11.0 billion by 2025, with an estimated compound annual growth rate (CAGR) of 20% to 30% through 2030. Other estimates indicate the global T-cell immunotherapy market was USD 3.94 billion in 2025 and is forecast to climb to USD 32.75 billion by 2030, reflecting a 35.33% CAGR. The global T-cell therapy market size was approximately USD 4.1 billion in 2024 and is expected to reach USD 15.3 billion by 2033, growing at a CAGR of 15.11% from 2025 to 2033.
  • Lymphoma (T-cell Therapy/CAR T-cell Therapy - broader category often includes T-cell approaches) (Global): The lymphoma segment in the global CAR T-cell therapy market was valued at USD 2.4 billion in 2024. Another source indicates the lymphoma segment led the CAR T-cell therapy market with a 52.86% revenue share in 2025 and is expected to grow the fastest during the forecast period. The global T-cell lymphoma therapeutics market was valued at US$ 2.3 billion in 2024 and is projected to reach US$ 5.7 billion by 2035, expanding at a CAGR of 8.6% from 2025 to 2035. The global T-cell Lymphoma market size was estimated at USD 2.12 billion in 2023 and is expected to grow at a CAGR of 8.83% from 2024 to 2030.
  • Solid Tumors (T-cell Therapy/CAR T-cell Therapy) (Global): The solid tumors segment in the CAR T-cell therapy market is anticipated to grow at a significant CAGR of 23.66% from 2025 to 2034. Solid tumors represent significantly larger patient populations than blood cancers, and their application in T-cell therapies is expected to demonstrate the fastest growth at 25%-35%. Solid tumors are on track to rise at a 35.4% CAGR to 2030 within the T-cell immunotherapy market.
  • Acute Myeloid Leukemia (AML) (Treatment Market, includes T-cell approaches) (Global): The global acute myeloid leukemia treatment market size was estimated at USD 3.47 billion in 2024 and is projected to reach USD 6.29 billion by 2030, growing at a CAGR of 10.6% from 2025 to 2030. Another report values the global acute myeloid leukemia therapeutics market at USD 3.18 billion in 2026 and projects it to reach USD 5.18 billion by 2031 at a 10.29% CAGR. Immunotherapy, including CAR-T cells, is expanding at a 12.14% CAGR within the AML therapeutics market. The global acute myeloid leukemia treatment market size was valued at USD 3.91 billion in 2025 and is projected to grow to USD 9.79 billion by 2034, exhibiting a CAGR of 10.75%.
  • Acute Lymphoblastic Leukemia (ALL) (Treatment Market, includes T-cell approaches) (Global): The global Acute Lymphoblastic Leukemia market size is projected to be USD 3.72 billion in 2025, rising to USD 6.58 billion by 2033, with a CAGR of 7.40% from 2025 to 2033. The T-Cell Acute Lymphoblastic Leukemia Treatment Market was valued at USD 3.25 billion in 2025 and is expected to increase to USD 4.67 billion by 2032, growing at a CAGR of 5.3%. The CAR T-Cell Therapy for Acute Lymphoblastic Leukemia market size in the 7MM (7 Major Markets) was approximately USD 200 million in 2023, with the U.S. accounting for approximately USD 150 million.

Peptide-based Immunotherapeutic Vaccines (TPIV100/110 and TPIV200)

  • Breast Cancer Immunotherapy Market (Global): The global breast cancer immunotherapy market size was estimated at approximately USD 15.2 billion in 2023 and is projected to reach around USD 38.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 11.1%. The global breast cancer therapeutics market (a broader category that includes immunotherapy) was estimated at USD 31.5 billion in 2024 and is expected to grow to USD 71.3 billion by 2034, at a CAGR of 8.5%.
  • Ovarian Cancer Immunotherapy/Treatment Drugs Market (Global): The global ovarian cancer market size reached USD 2.5 billion in 2025 and is projected to reach USD 5.8 billion by 2034, exhibiting a growth rate (CAGR) of 9.21%. The global ovarian cancer drugs market size was estimated at USD 3.84 billion in 2024 and is expected to hit around USD 7.34 billion by 2034, poised to grow at a CAGR of 6.7% from 2025 to 2034. The global ovarian cancer market size was estimated to be USD 3.5 billion in 2023, with a projected CAGR of 7.2% from 2024 to 2032, reaching approximately USD 6.5 billion by 2032.
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Here are the expected drivers of future revenue growth for Marker Therapeutics (MRKR) over the next 2-3 years:

  1. Successful Clinical Development and Potential Commercialization of MT-601 in Relapsed/Refractory Lymphoma: Marker Therapeutics has prioritized its MultiTAA-specific T cell therapy, MT-601, for the treatment of lymphoma, especially in patients who have relapsed after CAR-T cell therapy. Positive Phase 1 data for MT-601 in Non-Hodgkin lymphoma and Hodgkin lymphoma, showing encouraging objective response rates, positions it to address a critical unmet medical need. Advancing this program through pivotal clinical trials and achieving regulatory approval could lead to significant product revenue within the forecast period.
  2. Successful Clinical Development and Potential Commercialization of MT-401 in Acute Myeloid Leukemia (AML): The company is actively pursuing the development of MT-401 for AML, having received Orphan Drug Designation for this indication. Marker Therapeutics is working to initiate a company-sponsored Phase 2 clinical trial for MT-401 in post-transplant AML. Successful progression through clinical trials and subsequent regulatory approval would introduce another key revenue-generating product.
  3. Strategic Pipeline Expansion and Development of Additional MultiTAA Programs: Marker Therapeutics' MultiTAA-specific T cell technology is a platform designed to recognize multiple tumor-associated antigens across various cancer types. While MT-601 and MT-401 are lead candidates, the company continues to explore the platform's potential in other indications, including solid tumors like pancreatic adenocarcinoma, where initial clinical data has shown promising results. Successful advancement of these additional programs could broaden the addressable market and contribute to future revenue through further internal development or out-licensing agreements.
  4. Strategic Partnerships and Collaborations: As a clinical-stage biotechnology company, forming strategic partnerships or collaborations is a common driver for revenue growth. Such collaborations can provide non-dilutive funding, leverage external development expertise, and establish commercialization infrastructure, potentially accelerating the market entry and adoption of Marker Therapeutics' product candidates. Analysts' forecasts of significant revenue growth for Marker Therapeutics in the coming years imply anticipated success in bringing products to market, which may include benefits from strategic alliances.

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Share Issuance

  • Marker Therapeutics is seeking shareholder approval to increase its authorized common stock from 30,000,000 to 130,000,000 shares, primarily to enable potential future financings, employee awards, and strategic transactions.
  • The number of shares outstanding for Marker Therapeutics has significantly increased from 5 million in December 2020 to 17 million by September 2025.
  • The company's number of shares outstanding increased by 43.29% over the last year.

Inbound Investments

  • Marker Therapeutics has 38 institutional owners and shareholders, including NEA Management Company, LLC, Blue Owl Capital Holdings LP, and Vanguard Group Inc, who collectively hold 4,044,475 shares.
  • The company reported grant income of $1.23 million for the third quarter of 2025 and $2.44 million for the nine months ended September 30, 2025, likely from U.S. state and federal agencies for research and development.

Capital Expenditures

  • Marker Therapeutics' primary capital allocation towards its clinical-stage programs is reflected in its research and development expenses, which totaled $2.35 million in Q3 2025 and $13.45 million for the nine months ended September 30, 2025.
  • The company reported a loss of $0.45 million from the early termination of a vendor agreement during the first nine months of 2025.

Peer Outperformance in Biotechnology

MRKR has trailed 69% of its 360 Biotechnology peers over 5Y. Biotechnology ranks 9th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that MRKR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
58%
of 450 industry peers · -9.3% return
3Y
32%
of 396 industry peers · -72.1% return
5Y
31%
of 360 industry peers · -94.3% return
No Biotechnology peer with a comparable growth profile has beaten MRKR by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is MRKR's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 15.2%47.5%101.1% CAH 456% · MCK 395% · COR 193%
Health Care Services 20 21.8%36.8%9.2% HIMS 256% · RDNT 152% · DGX 80%
Managed Health Care 8 40.1%-2.3%8.0% OSCR 133% · HQY 42% · ELV 22%
Health Care Facilities 24 3.2%18.1%6.2% THC 337% · NHC 272% · EHC 144%
Health Care Equipment 50 -2.1%3.7%-13.7% UFPT 365% · GKOS 252% · TMDX 183%
Pharmaceuticals 61 -8.9%-4.7%-32.7% LQDA 720% · KNSA 573% · CORT 459%
Health Care Supplies 12 29.1%-4.7%-35.3% LNTH 328% · HAE 74% · MMSI 22%
Life Sciences Tools & Services 109 -13.5%-6.4%-67.0% NTRA 257% · MEDP 232% · GH 59%
Biotechnology ← 361 -24.8%-28.4%-81.2% DNTH 1023% · ELVN 926% · ADMA 804%
Health Care Technology 22 -27.8%-63.0%-83.6% VEEV 1% · DOCS -61%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Title
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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

MRKRIOVAATRAALLOFATENKTXMedian
NameMarker T.Iovance .Atara Bi.Allogene.Fate The.Nkarta  
Mkt Price0.8914.059.371.271.942.072.00
Mkt Cap0.06.30.10.40.20.20.2
Rev LTM032565605
Op Inc LTM-9-296-14-180-134-132-133
FCF LTM-10-296-22-103-106-94-98
FCF 3Y Avg-11-340-76-168-122-101-112
CFO LTM-10-264-22-102-102-93-97
CFO 3Y Avg-11-319-76-168-119-95-107

Growth & Margins

MRKRIOVAATRAALLOFATENKTXMedian
NameMarker T.Iovance .Atara Bi.Allogene.Fate The.Nkarta  
Rev Chg LTM-34.5%-96.7%--23.4%--23.4%
Rev Chg 3Y Avg-4,780.4%304.9%--48.1%-304.9%
Rev Chg Q-65.7%-96.4%-9.2%-9.2%
QoQ Delta Rev Chg LTM-13.8%-73.2%-2.8%-2.8%
Op Inc Chg LTM36.8%27.9%-277.0%25.2%24.8%-2.9%25.0%
Op Inc Chg 3Y Avg0.5%10.4%-43.6%20.2%17.7%0.8%5.6%
Op Mgn LTM--91.1%-229.7%-3,886.1%-2,058.1%--1,143.9%
Op Mgn 3Y Avg--554.2%-170.8%--1,914.2%--554.2%
QoQ Delta Op Mgn LTM-34.2%-202.4%-149.4%-34.2%
CFO/Rev LTM--81.3%-353.5%-2,202.5%-1,570.5%--962.0%
CFO/Rev 3Y Avg--464.4%-205.0%--1,358.9%--464.4%
FCF/Rev LTM--91.2%-353.5%-2,211.2%-1,627.8%--990.6%
FCF/Rev 3Y Avg--482.4%-205.3%--1,392.8%--482.4%

Valuation

MRKRIOVAATRAALLOFATENKTXMedian
NameMarker T.Iovance .Atara Bi.Allogene.Fate The.Nkarta  
Mkt Cap0.06.30.10.40.20.20.2
P/S-19.522.790.036.0-29.4
P/Op Inc-1.9-21.4-9.9-2.3-1.7-1.2-2.1
P/EBIT-1.9-21.4-10.2-2.5-1.7-1.2-2.2
P/E-2.0-21.9-8.4-2.5-1.9-1.3-2.2
P/CFO-1.8-24.0-6.4-4.1-2.3-1.7-3.2
Total Yield-50.7%-4.5%-11.6%-38.7%-53.9%-77.6%-44.7%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-35.9%-29.9%-113.0%-42.2%-50.3%-50.5%-46.2%
D/E0.00.00.10.20.30.50.1
Net D/E-0.7-0.00.0-0.6-0.3-0.7-0.5

Returns

MRKRIOVAATRAALLOFATENKTXMedian
NameMarker T.Iovance .Atara Bi.Allogene.Fate The.Nkarta  
1M Rtn-23.9%51.8%1.3%-28.7%-17.1%-29.1%-20.5%
3M Rtn-36.9%196.5%9.6%-33.2%-35.1%-22.2%-27.7%
6M Rtn-43.7%267.9%78.8%-41.5%50.4%-14.5%18.0%
12M Rtn-16.0%563.0%-35.9%3.3%29.3%-13.4%-5.1%
3Y Rtn-73.1%287.2%-75.7%-60.2%14.1%34.4%-23.0%
1M Excs Rtn-26.8%47.3%-3.6%-29.0%-20.4%-31.1%-23.6%
3M Excs Rtn-37.2%198.0%3.9%-32.6%-32.6%-24.1%-28.3%
6M Excs Rtn-54.8%256.9%67.9%-52.4%39.2%-25.9%6.7%
12M Excs Rtn-30.0%539.6%-54.7%-16.9%22.2%-26.1%-21.5%
3Y Excs Rtn-157.1%173.9%-153.7%-135.5%-69.8%-31.6%-102.7%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment00391
Total00391


Assets by Segment
$ Mil20252024202320222017
Single Segment192217345
Total192217345


Price Behavior

Price Behavior
Market Price$0.89 
Market Cap ($ Bil)0.0 
First Trading Date02/23/2007 
Distance from 52W High-59.4% 
   50 Days200 Days
DMA Price$1.18$1.41
DMA Trenddowndown
Distance from DMA-24.3%-37.0%
 3M1YR
Volatility69.9%79.6%
Downside Capture304.40135.90
Upside Capture92.45109.28
Correlation (S&P 500)23.2%15.8%
MRKR Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.271.591.150.961.051.22
Up Beta6.200.001.280.551.480.87
Down Beta-2.340.300.940.550.091.62
Up Capture-123%196%34%73%135%48%
Bmk +ve Days6162766132424
Stock +ve Days6172351112331
Down Capture257%257%212%162%116%110%
Bmk -ve Days16263760120328
Stock -ve Days14223763127397

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MRKR
MRKR-12.8%79.6%0.16-
Sector ETF (XLV)24.2%16.0%1.1616.9%
Equity (SPY)17.1%12.7%0.9616.4%
Gold (GLD)-0.6%29.4%-0.028.5%
Commodities (DBC)49.3%20.7%1.82-5.9%
Real Estate (VNQ)5.7%13.7%0.155.8%
Bitcoin (BTCUSD)-27.9%43.7%-0.6316.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MRKR
MRKR-44.3%110.4%-0.04-
Sector ETF (XLV)8.4%15.2%0.3514.9%
Equity (SPY)13.6%17.1%0.6015.3%
Gold (GLD)17.9%18.9%0.761.0%
Commodities (DBC)10.0%19.5%0.393.2%
Real Estate (VNQ)1.2%18.8%-0.0512.3%
Bitcoin (BTCUSD)8.5%51.8%0.3411.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MRKR
MRKR-33.8%99.3%0.03-
Sector ETF (XLV)11.1%16.7%0.5417.8%
Equity (SPY)15.4%17.9%0.7319.9%
Gold (GLD)12.0%16.4%0.602.6%
Commodities (DBC)8.2%18.1%0.377.8%
Real Estate (VNQ)4.8%20.7%0.1914.3%
Bitcoin (BTCUSD)63.5%66.2%1.0310.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity0.2 Mil
Short Interest: % Change Since 9152026-25.5%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest2.5 days
Basic Shares Quantity19.3 Mil
Short % of Basic Shares0.9%

Earnings Returns History

Updated 6/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/19/20261.5%2.3%26.5%
11/14/20253.5%11.5%42.4%
3/31/2025-3.1%-21.3%-3.1%
11/14/2024-12.3%-15.7%18.0%
8/14/2024-5.4%7.1%-17.5%
5/15/2024-1.7%-5.5%-0.1%
3/26/20240.3%5.3%1.0%
11/9/2023-8.6%-7.4%58.1%
...
SUMMARY STATS   
# Positive788
# Negative131212
Median Positive1.5%8.9%22.3%
Median Negative-4.1%-12.3%-12.0%
Max Positive25.8%39.5%58.1%
Max Negative-31.8%-52.1%-43.8%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/19/20261.5%2.3%26.5%
11/14/20253.5%11.5%42.4%
3/31/2025-3.1%-21.3%-3.1%
11/14/2024-12.3%-15.7%18.0%
8/14/2024-5.4%7.1%-17.5%
5/15/2024-1.7%-5.5%-0.1%
3/26/20240.3%5.3%1.0%
11/9/2023-8.6%-7.4%58.1%
8/14/202325.8%39.5%14.8%
3/22/2023-31.8%-52.1%-43.8%
11/10/2022-0.1%-7.1%-21.0%
8/11/2022-12.2%-17.5%-0.1%
5/13/20224.9%1.0%-7.6%
3/18/2022-4.1%20.4%-11.2%
11/10/2021-3.4%-7.5%-25.2%
8/10/2021-1.5%-13.4%-6.0%
5/12/2021-3.7%10.6%55.1%
3/9/20210.0%-25.9%-12.7%
11/9/20200.0%-4.0%4.0%
8/10/2020-9.8%-11.2%-27.6%
SUMMARY STATS   
# Positive788
# Negative131212
Median Positive1.5%8.9%22.3%
Median Negative-4.1%-12.3%-12.0%
Max Positive25.8%39.5%58.1%
Max Negative-31.8%-52.1%-43.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/14/202610-Q
03/31/202605/15/202610-Q
12/31/202503/18/202610-K
09/30/202511/13/202510-Q
06/30/202508/14/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/202510-K
09/30/202411/14/202410-Q
06/30/202408/14/202410-Q
03/31/202405/15/202410-Q
12/31/202303/26/202410-K
09/30/202311/09/202310-Q
06/30/202308/14/202310-Q
03/31/202305/15/202310-Q
12/31/202203/22/202310-K
09/30/202211/10/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/14/202610-Q
03/31/202605/15/202610-Q
12/31/202503/18/202610-K
09/30/202511/13/202510-Q
06/30/202508/14/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/202510-K
09/30/202411/14/202410-Q
06/30/202408/14/202410-Q
03/31/202405/15/202410-Q
12/31/202303/26/202410-K
09/30/202311/09/202310-Q
06/30/202308/14/202310-Q
03/31/202305/15/202310-Q
12/31/202203/22/202310-K
09/30/202211/10/202210-Q
06/30/202208/11/202210-Q
03/31/202205/13/202210-Q
12/31/202103/17/202210-K
09/30/202111/10/202110-Q
06/30/202108/10/202110-Q
03/31/202105/12/202110-Q
12/31/202003/09/202110-K
09/30/202011/09/202010-Q
06/30/202008/10/202010-Q
03/31/202005/11/202010-Q
12/31/201903/12/202010-K
09/30/201911/12/201910-Q
Core Cache Last Updated: 10/14/2026