Marker Therapeutics (MRKR)
Market Price (5/9/2026): $1.46 | Market Cap: $24.5 MilSector: Health Care | Industry: Biotechnology
Marker Therapeutics (MRKR)
Market Price (5/9/2026): $1.46Market Cap: $24.5 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -72% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 99% Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, and Aging Population & Chronic Disease. Themes include Gene Editing & Therapy, Show more. | Weak multi-year price returns2Y Excs Rtn is -110%, 3Y Excs Rtn is -74% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -7.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -119% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -225%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -225% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 96% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -62% Key risksMRKR key risks include [1] an ongoing need for future dilutive financing to fund operations, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -72% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 99% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, and Aging Population & Chronic Disease. Themes include Gene Editing & Therapy, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -110%, 3Y Excs Rtn is -74% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -7.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -119% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -225%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -225% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 96% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -62% |
| Key risksMRKR key risks include [1] an ongoing need for future dilutive financing to fund operations, Show more. |
Qualitative Assessment
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Marker Therapeutics (MRKR) stock has lost about 10% since 1/31/2026 because of the following key factors:
1. Approval of significant share authorization increase created potential for dilution.
On May 1, 2026, Marker Therapeutics' stockholders approved a Charter Amendment to increase the number of authorized common shares from 30,000,000 to 130,000,000. This substantial increase in authorized shares raises concerns about potential future dilution, which can negatively impact a stock's value as it suggests the company may issue a large number of new shares, thereby reducing the ownership percentage of existing shareholders.
2. The cell and gene therapy sector, in which Marker Therapeutics operates, experienced significant headwinds.
During the first quarter of 2026, the cell and gene therapy segment was a notable laggard in the biopharma venture capital market. Deal value in this segment declined by 22.5% year over year amidst clinical setbacks and shifting FDA guidance. This broader industry downturn created a challenging macroeconomic environment for companies like Marker Therapeutics, contributing to negative sentiment.
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1. Approval of significant share authorization increase created potential for dilution.
On May 1, 2026, Marker Therapeutics' stockholders approved a Charter Amendment to increase the number of authorized common shares from 30,000,000 to 130,000,000. This substantial increase in authorized shares raises concerns about potential future dilution, which can negatively impact a stock's value as it suggests the company may issue a large number of new shares, thereby reducing the ownership percentage of existing shareholders.
2. The cell and gene therapy sector, in which Marker Therapeutics operates, experienced significant headwinds.
During the first quarter of 2026, the cell and gene therapy segment was a notable laggard in the biopharma venture capital market. Deal value in this segment declined by 22.5% year over year amidst clinical setbacks and shifting FDA guidance. This broader industry downturn created a challenging macroeconomic environment for companies like Marker Therapeutics, contributing to negative sentiment.
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Stock Movement Drivers
Fundamental Drivers
The -8.8% change in MRKR stock from 1/31/2026 to 5/8/2026 was primarily driven by a -8.8% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 5082026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.60 | 1.46 | -8.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7 | 7 | 0.0% |
| P/S Multiple | 4.1 | 3.7 | -8.8% |
| Shares Outstanding (Mil) | 17 | 17 | 0.0% |
| Cumulative Contribution | -8.8% |
Market Drivers
1/31/2026 to 5/8/2026| Return | Correlation | |
|---|---|---|
| MRKR | -8.8% | |
| Market (SPY) | 3.6% | 25.8% |
| Sector (XLV) | -6.9% | 15.8% |
Fundamental Drivers
The 47.8% change in MRKR stock from 10/31/2025 to 5/8/2026 was primarily driven by a 77.5% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5082026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.99 | 1.46 | 47.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7 | 7 | 0.0% |
| P/S Multiple | 2.1 | 3.7 | 77.5% |
| Shares Outstanding (Mil) | 14 | 17 | -16.7% |
| Cumulative Contribution | 47.8% |
Market Drivers
10/31/2025 to 5/8/2026| Return | Correlation | |
|---|---|---|
| MRKR | 47.8% | |
| Market (SPY) | 5.5% | 17.2% |
| Sector (XLV) | 0.3% | 15.7% |
Fundamental Drivers
The 22.7% change in MRKR stock from 4/30/2025 to 5/8/2026 was primarily driven by a 124.0% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5082026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.19 | 1.46 | 22.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7 | 7 | 0.0% |
| P/S Multiple | 1.7 | 3.7 | 124.0% |
| Shares Outstanding (Mil) | 9 | 17 | -45.2% |
| Cumulative Contribution | 22.7% |
Market Drivers
4/30/2025 to 5/8/2026| Return | Correlation | |
|---|---|---|
| MRKR | 22.7% | |
| Market (SPY) | 30.4% | 16.3% |
| Sector (XLV) | 4.0% | 13.2% |
Fundamental Drivers
The 73.5% change in MRKR stock from 4/30/2023 to 5/8/2026 was primarily driven by a 9.2233720368547763E17% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5082026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.84 | 1.46 | 73.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 7 | 9.2233720368547763E17% |
| P/S Multiple | ∞ | 3.7 | |
| Shares Outstanding (Mil) | 8 | 17 | -50.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2023 to 5/8/2026| Return | Correlation | |
|---|---|---|
| MRKR | 73.5% | |
| Market (SPY) | 78.7% | 13.8% |
| Sector (XLV) | 13.0% | 13.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MRKR Return | -34% | -72% | 107% | -43% | -52% | -3% | -90% |
| Peers Return | -46% | -69% | -32% | -31% | -26% | 54% | -91% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 95% |
Monthly Win Rates [3] | |||||||
| MRKR Win Rate | 33% | 33% | 67% | 25% | 33% | 40% | |
| Peers Win Rate | 40% | 27% | 35% | 40% | 38% | 64% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| MRKR Max Drawdown | -34% | -75% | -73% | -55% | -73% | -17% | |
| Peers Max Drawdown | -56% | -73% | -73% | -45% | -59% | -19% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[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 5/8/2026 (YTD)
How Low Can It Go
| Event | MRKR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -35.5% | -18.8% |
| % Gain to Breakeven | 55.0% | 23.1% |
| Time to Breakeven | 56 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -70.3% | -6.7% |
| % Gain to Breakeven | 236.6% | 7.1% |
| Time to Breakeven | 70 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.1% | -33.7% |
| % Gain to Breakeven | 69.8% | 50.9% |
| Time to Breakeven | 49 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -37.7% | -3.7% |
| % Gain to Breakeven | 60.4% | 3.9% |
| Time to Breakeven | 385 days | 6 days |
| 2013 Taper Tantrum | ||
| % Loss | -82.8% | -0.2% |
| % Gain to Breakeven | 481.6% | 0.2% |
| Time to Breakeven | 190 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -45.2% | -17.9% |
| % Gain to Breakeven | 82.4% | 21.8% |
| Time to Breakeven | 963 days | 123 days |
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.
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| Event | MRKR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -35.5% | -18.8% |
| % Gain to Breakeven | 55.0% | 23.1% |
| Time to Breakeven | 56 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -70.3% | -6.7% |
| % Gain to Breakeven | 236.6% | 7.1% |
| Time to Breakeven | 70 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.1% | -33.7% |
| % Gain to Breakeven | 69.8% | 50.9% |
| Time to Breakeven | 49 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -37.7% | -3.7% |
| % Gain to Breakeven | 60.4% | 3.9% |
| Time to Breakeven | 385 days | 6 days |
| 2013 Taper Tantrum | ||
| % Loss | -82.8% | -0.2% |
| % Gain to Breakeven | 481.6% | 0.2% |
| Time to Breakeven | 190 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -45.2% | -17.9% |
| % Gain to Breakeven | 82.4% | 21.8% |
| Time to Breakeven | 963 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -61.9% | -15.4% |
| % Gain to Breakeven | 162.5% | 18.2% |
| Time to Breakeven | 265 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -87.1% | -53.4% |
| % Gain to Breakeven | 675.0% | 114.4% |
| Time to Breakeven | 214 days | 1085 days |
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., a clinical-stage immuno-oncology company, engages in the development and commercialization of various T cell-based immunotherapies and peptide-based vaccines for the treatment of hematological malignancies and solid tumor indications in the United States. Its MultiTAA-specific T cell technology is based on the manufacture of non-engineered tumor-specific T cells that recognize multiple tumor-associated antigens and kill tumor cells expressing tumor-associated antigens. The company's MultiTAA-specific T cell therapies include autologous T cells for the treatment of lymphoma, and various solid tumors; allogeneic T cells for the treatment of acute myeloid leukemia and acute lymphoblastic leukemia; and off-the-shelf products in various indications. It is also developing TPIV100/110, a peptide-based immunotherapeutic vaccines for the treatment of breast and ovarian cancer cells; and TPIV200, which is in Phase 2 clinical trial for the treatment of breast and ovarian cancers. The company was founded in 1999 and is headquartered in Houston, Texas.
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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.
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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)
- 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.
- 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.
- 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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```htmlMarker 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:
- 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.
- 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.
- 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.
- 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.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Marker Therapeutics Earnings Notes | 12/16/2025 | |
| Would You Still Hold Marker Therapeutics Stock If It Fell Another 30%? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
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| 04302026 | GEHC | GE HealthCare Technologies | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | IQV | IQVIA | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | UHS | Universal Health Services | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ABT | Abbott Laboratories | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ZBIO | Zenas BioPharma | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 2.79 |
| Mkt Cap | 0.3 |
| Rev LTM | 7 |
| Op Inc LTM | -135 |
| FCF LTM | -101 |
| FCF 3Y Avg | -115 |
| CFO LTM | -97 |
| CFO 3Y Avg | -112 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -6.3% |
| Rev Chg 3Y Avg | -54.6% |
| Rev Chg Q | -26.4% |
| QoQ Delta Rev Chg LTM | -3.4% |
| Op Inc Chg LTM | 14.9% |
| Op Inc Chg 3Y Avg | 17.3% |
| Op Mgn LTM | -122.0% |
| Op Mgn 3Y Avg | -1,318.9% |
| QoQ Delta Op Mgn LTM | 15.9% |
| CFO/Rev LTM | -159.8% |
| CFO/Rev 3Y Avg | -901.9% |
| FCF/Rev LTM | -165.8% |
| FCF/Rev 3Y Avg | -936.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.3 |
| P/S | 4.5 |
| P/Op Inc | -2.2 |
| P/EBIT | -2.3 |
| P/E | -2.2 |
| P/CFO | -2.7 |
| Total Yield | -40.5% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -48.9% |
| D/E | 0.1 |
| Net D/E | -0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 21.2% |
| 3M Rtn | 50.5% |
| 6M Rtn | 65.8% |
| 12M Rtn | 38.9% |
| 3Y Rtn | -53.2% |
| 1M Excs Rtn | 4.9% |
| 3M Excs Rtn | 43.8% |
| 6M Excs Rtn | 72.9% |
| 12M Excs Rtn | 19.7% |
| 3Y Excs Rtn | -133.2% |
Price Behavior
Price Behavior
| Market Price | $1.46 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 02/23/2007 | |
| Distance from 52W High | -33.3% | |
| 50 Days | 200 Days | |
| DMA Price | $1.44 | $1.31 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 1.2% | 11.1% |
| 3M | 1YR | |
| Volatility | 76.5% | 94.3% |
| Downside Capture | 1.38 | 0.62 |
| Upside Capture | 161.12 | 101.38 |
| Correlation (SPY) | 25.3% | 15.4% |
MRKR Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.69 | 1.66 | 1.41 | 1.17 | 1.24 | 1.02 |
| Up Beta | 0.34 | 0.98 | 0.84 | 2.02 | 1.77 | 0.77 |
| Down Beta | 13.26 | -1.26 | -0.57 | -0.86 | 0.55 | 1.73 |
| Up Capture | 219% | 245% | 186% | 241% | 119% | 56% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 12 | 18 | 26 | 61 | 115 | 338 |
| Down Capture | 883% | 266% | 216% | 108% | 122% | 93% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 9 | 24 | 36 | 62 | 130 | 400 |
[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 | 31.7% | 95.5% | 0.71 | - |
| Sector ETF (XLV) | 7.9% | 15.4% | 0.30 | 11.9% |
| Equity (SPY) | 29.0% | 12.5% | 1.83 | 15.4% |
| Gold (GLD) | 39.8% | 27.0% | 1.22 | -0.4% |
| Commodities (DBC) | 50.6% | 18.0% | 2.21 | -2.6% |
| Real Estate (VNQ) | 13.0% | 13.5% | 0.66 | 3.9% |
| Bitcoin (BTCUSD) | -17.9% | 42.1% | -0.35 | 14.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRKR | |
|---|---|---|---|---|
| MRKR | -43.5% | 110.2% | -0.03 | - |
| Sector ETF (XLV) | 4.9% | 14.6% | 0.16 | 14.4% |
| Equity (SPY) | 12.8% | 17.1% | 0.59 | 15.6% |
| Gold (GLD) | 20.9% | 17.9% | 0.95 | 0.1% |
| Commodities (DBC) | 13.8% | 19.1% | 0.59 | 3.5% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 12.7% |
| Bitcoin (BTCUSD) | 6.9% | 56.0% | 0.34 | 10.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRKR | |
|---|---|---|---|---|
| MRKR | -30.4% | 100.6% | 0.07 | - |
| Sector ETF (XLV) | 9.3% | 16.5% | 0.46 | 17.7% |
| Equity (SPY) | 15.1% | 17.9% | 0.72 | 19.9% |
| Gold (GLD) | 13.4% | 15.9% | 0.69 | 2.1% |
| Commodities (DBC) | 9.3% | 17.8% | 0.44 | 7.9% |
| Real Estate (VNQ) | 5.8% | 20.7% | 0.24 | 14.5% |
| Bitcoin (BTCUSD) | 67.7% | 66.9% | 1.07 | 10.1% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/19/2026 | 1.5% | 2.3% | 26.5% |
| 11/14/2025 | 3.5% | 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% |
| 3/26/2024 | 0.3% | 5.3% | 1.0% |
| 11/9/2023 | -8.6% | -7.4% | 58.1% |
| 8/14/2023 | 25.8% | 39.5% | 14.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 6 | 6 | 7 |
| # Negative | 11 | 11 | 10 |
| Median Positive | 0.9% | 9.3% | 18.0% |
| Median Negative | -5.4% | -13.4% | -15.1% |
| Max Positive | 25.8% | 39.5% | 58.1% |
| Max Negative | -31.8% | -52.1% | -43.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/26/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/22/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/13/2022 | 10-Q |
| 12/31/2021 | 03/17/2022 | 10-K |
Recent Forward Guidance [BETA]
Latest: Q3 2025 Earnings Reported 11/14/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Cash Runway | |||||||
Prior: Q4 2024 Earnings Reported 3/31/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Cash Runway | 2,026 | 0.0% | Raised | Guidance: 2,026 for Q4 2025 | |||
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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