• 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.

• 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.

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.

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.

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.

• 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).

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.

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.