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Associated Press
31-03-2025
- Business
- Associated Press
Marker Therapeutics Reports Year-End 2024 Corporate and Financial Results
Lead program investigating MT-601 in patients with refractory lymphomas, including anti-CD19 CAR-T cell therapy, demonstrated safety and efficacy in 9 patients with 78% having objective responses, including durable complete responses Secured over $13 million in non-dilutive funding from the Cancer Prevention & Research Institute of Texas (CPRIT) and the National Institute of Health (NIH) Small Business Innovation Research (SBIR) to support pancreatic and lymphoma clinical programs Approval from United States Adopted Name (USAN) council and International Nonproprietary Names (INN) expert committee for 'neldaleucel' as nonproprietary name for MT-601 Strategic financing to support clinical advancements to investigate MT-601 in patients with lymphoma HOUSTON, March 31, 2025 (GLOBE NEWSWIRE) -- Marker Therapeutics, Inc. (Nasdaq: MRKR), a clinical-stage immuno-oncology company focusing on developing next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumors, today announced corporate updates and financial results for the year ended December 31, 2024. 'In 2024, we made substantial progress advancing MT-601, our lead multi antigen recognizing (MAR)-T cell therapy, and laid the groundwork for continued momentum in 2025,' said Juan Vera, M.D., President and Chief Executive Officer of Marker Therapeutics. 'Preliminary data from our Phase 1 APOLLO study showed encouraging safety and efficacy results in lymphoma patients who relapsed after anti-CD19 CAR-T cell therapy. With a 78% objective response rate and favorable safety profile, we believe MT-601 has the potential to provide a transformative treatment option for this patient population. We look forward to sharing additional insights during a webinar in the second quarter of 2025.' 'We also strengthened our financial position through a strategic private placement and additional non-dilutive funding from the NIH and CPRIT. As we move further into 2025, our focus remains on cash preservation and disciplined execution to maximize the impact of our clinical programs,' concluded Dr. Vera. 2024 PROGRAM UPDATES & OPERATIONAL HIGHLIGHTS MT-601 (Lymphoma) MT-601, Marker's lead MAR-T cell therapy, is being evaluated in the nationwide multicenter Phase 1 APOLLO study ( identifier: NCT05798897) in patients with anti-CD19 CAR-T relapsed lymphoma or where CAR-T cells are not an option. The Company provided an update on the APOLLO study ( Press Release, December 19, 2024). Key findings from the study include: Safety: MT-601 was well tolerated across all study participants. No immune-effector cell associated neurotoxicity syndrome (ICANS) and one case of Grade 1 cytokine release syndrome (CRS) were observed. No dose limiting toxicities (DLTs) have been reported to date. Efficacy: In the first dose cohort, 7 out of 9 patients achieved objective responses (78%) at first response assessment, with 4 patients demonstrating complete response (CR; 44.4%). Time in Follow-Up: Three patients have been followed for 6 to 12 months, with ongoing follow-up underway. All study participants are monitored closely to ensure comprehensive data collection and patient safety. The Company is enrolling additional study participants in the Phase 1 APOLLO trial and expects to report further data in the second half of 2025. MT-601 (Pancreatic) Marker received $2 million from NIH SBIR and $9.5 million from CPRIT to support the development of MT-601 in metastatic pancreatic cancer. Clinical program launch is anticipated in the second half of 2025. MT-401-OTS (Acute Myeloid Leukemia or Myelodysplastic Syndrome) The Company previously secured non-dilutive funding to support the clinical investigation of MT-401 as an 'Off-the-Shelf' (MT-401-OTS) product in patients with Acute Myeloid Leukemia (AML) or Myelodysplastic Syndrome (MDS). MT-401-OTS is manufactured from healthy donors and a cellular inventory has been established with ongoing efforts to expand. The Company anticipates clinical program initiation during the second half of 2025. 2024 CORPORATE HIGHLIGHTS Announced clinical pipeline prioritization in January 2024 to strategically focus on MT-601 in patients with lymphoma. This announcement also included program updates that highlighted the potential of the Company's MT-401-OTS program for patients with AML ( Press Release, January 8, 2024). The United States Adopted Names (USAN) and International Nonproprietary Names (INN) committees approved ' neldaleucel ' as the nonproprietary (generic) name for MT-601. On December 23, 2024, the Company announced a $16.1 million private placement to support the clinical advancements of the Phase 1 APOLLO study. The financing involved participation from new and existing investors, including esteemed firms such as Blue Owl, New Enterprise Associates (NEA) and Aisling Capital. FISCAL YEAR 2024 FINANCIAL HIGHLIGHTS Cash Position and Guidance: At December 31, 2024, Marker had cash and cash equivalents of $19.2 million. The Company believes that its existing cash and cash equivalents will fund its operating expenses into the first quarter of 2026, assuming no additional grant funds are received. We anticipate receiving additional grant funding, which we expect could extend our runway beyond Q1 2026. R&D Expenses: Research and development expenses were $13.5 million for the year ended December 31, 2024, compared to $10.4 million for the year ended December 31, 2023. G&A Expenses: General and administrative expenses were $4.2 million for the year ended December 31, 2024, compared to $7.5 million for the year ended December 31, 2023. Net Loss: Marker reported a net loss of $10.7 million for the year ended December 31, 2024, compared to a net loss of $8.2 million for the year ended December 31, 2023. About MAR-T cells The multi-antigen recognizing (MAR) T cell platform (formerly known as multiTAA-specific T cells) is a novel, non-genetically modified cell therapy approach that selectively expands tumor-specific T cells from a patient's/donor's blood capable of recognizing a broad range of tumor antigens. Unlike other T cell therapies, MAR-T cells allow the recognition of hundreds of different epitopes within up to six tumor-specific antigens, thereby reducing the possibility of tumor escape. Since MAR-T cells are not genetically engineered, Marker believes that its product candidates will be easier and less expensive to manufacture, with an improved safety profile compared to current engineered T cell approaches, and may provide patients with meaningful clinical benefits. About Marker Therapeutics, Inc. Marker Therapeutics, Inc. is a Houston, TX-based clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumors. The Company was founded at Baylor College of Medicine, and clinical trials that enrolled more than 200 patients across various hematological and solid tumor indications showed that the Company's autologous and allogeneic MAR-T cell products were well tolerated and demonstrated durable clinical responses. Marker's goal is to introduce novel T cell therapies to the market and improve patient outcomes. To achieve these objectives, the Company prioritizes the preservation of financial resources and focuses on operational excellence. Marker's unique T cell platform is strengthened by non-dilutive funding from U.S. state and federal agencies supporting cancer research. Forward-Looking Statements This release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company's expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are 'forward-looking statements.' Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: our research, development and regulatory activities and expectations relating to our non-engineered multi-tumor antigen specific T cell therapies; the effectiveness of these programs or the possible range of application and potential curative effects and safety in the treatment of diseases; the timing, conduct, interim results announcements and outcomes of our clinical trials of our product candidates, including MT 601 for the treatment of patients with lymphoma. Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at The Company assumes no obligation to update its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release except as may be required by law. Marker Therapeutics, Inc. Consolidated Balance Sheets (Audited) December 31, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 19,192,440 $ 15,111,450 Prepaid expenses and deposits 483,717 988,126 Other receivables 2,346,703 1,027,815 Total current assets 22,022,860 17,127,391 Total assets $ 22,022,860 $ 17,127,391 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 1,753,954 $ 1,745,193 Related party payable 1,710,500 1,329,655 Total current liabilities 3,464,454 3,074,848 Total liabilities 3,464,454 3,074,848 Stockholders' equity: Preferred stock, $0.001 par value, 5 million shares authorized, 0 shares issued and outstanding at December 31, 2024 and 2023, respectively - - Common stock, $0.001 par value, 30 million shares authorized, 10.7 million and 8.9 million shares issued and outstanding as of December 31, 2024 and 2023, respectively (see Note 8) 10,708 8,891 Additional paid-in capital 465,564,876 450,329,515 Accumulated deficit (447,017,178) (436,285,863) Total stockholders' equity 18,558,406 14,052,543 Total liabilities and stockholders' equity $ 22,022,860 $ 17,127,391 Marker Therapeutics, Inc. Consolidated Statements of Operations (Audited) For the Year Ended December 31, 2024 2023 Revenues: Grant income $ 6,591,080 $ 3,311,133 Total revenues 6,591,080 3,311,133 Operating expenses: Research and development 13,467,845 10,416,789 General and administrative 4,241,607 7,475,722 Total operating expenses 17,709,452 17,892,511 Loss from operations (11,118,372) (14,581,378) Other income (expenses): Interest income 437,010 539,158 Loss from continuing operations before income taxes (10,681,362) (14,042,220) Income tax expense 49,953 3,675 Net loss from continuing operations (10,731,315) (14,045,895) Discontinued operations: Loss from discontinued operations, net of tax - (2,922,406) Gain on disposal of discontinued operations - 8,731,487 Income from discontinued operations - 5,809,081 Net loss $ (10,731,315) $ (8,236,814) Net loss per share: Loss from continuing operations, basic and diluted $ (1.19) $ (1.59) Income from discontinued operations, basic and diluted $ - $ 0.66 Net loss per share, basic and diluted $ (1.19) $ (0.94) Weighted average number of common shares outstanding: Basic 8,980,207 8,809,382 Diluted 8,980,207 8,809,382 Marker Therapeutics, Inc. Consolidated Statements of Cash Flows (Audited) For the Year Ended December 31, 2024 2023 Cash Flows from Operating Activities: Net loss $ (10,731,315) $ (8,236,814) Less: gain from discontinued operations, net of tax - 5,809,081 Net loss from continuing operations (10,731,315) (14,045,895) Reconciliation of net loss to net cash used in operating activities: Stock-based compensation 245,864 858,269 Changes in operating assets and liabilities: Prepaid expenses and deposits 504,409 861,113 Other receivables (1,318,888) 1,374,189 Related party payable 380,845 1,329,655 Accounts payable and accrued expenses 8,761 (718,393) Net cash used in operating activities - continuing operations (10,910,324) (10,341,062) Net cash used in operating activities - discontinued operations - (6,098,899) Net cash used in operating activities (10,910,324) (16,439,961) Cash Flows from Investing Activities: Net cash provided by investing activities - discontinued operations - 18,664,122 Net cash provided by investing activities - 18,664,122 Cash Flows from Financing Activities: Proceeds from issuance of common stock, net 14,929,155 1,014,640 Proceeds from stock options exercise 62,159 90,477 Net cash provided by financing activities 14,991,314 1,105,117 Net increase in cash and cash equivalents 4,080,990 3,329,278 Cash and cash equivalents at beginning of the period 15,111,450 11,782,172 Cash and cash equivalents at end of the period $ 19,192,440 $ 15,111,450 Media and Investor Contact Marker Therapeutics, Inc.
Yahoo
11-03-2025
- Business
- Yahoo
APOLLO and Colonnade BridgePort Partner to Offer Digital Insurance to Residents
TORONTO, March 11, 2025--(BUSINESS WIRE)--APOLLO Insurance, a Canadian digital insurance provider and leading innovator in the emerging embedded finance sector, has partnered with Colonnade BridgePort, a prominent real estate investment and management firm, to provide instant digital insurance solutions specifically designed for tenants across Canada. APOLLO's digital platform launched in 2019 and began serving Canadian consumers with fully digital insurance products. Since then, APOLLO has partnered with leading REITs, property management companies, proptechs, and other organizations to integrate insurance products into their existing workflows. For property managers, the insurance purchase experience is incorporated into the leasing and renewal workflows. "This partnership with Colonnade Bridgeport is an exciting move for APOLLO," said Jeff McCann, APOLLO Founder and CEO. "By working together, we're able to streamline the process of acquiring tenant insurance for their renters, enhancing the protection for residents and aligning with Colonnade BridgePort's goal of fostering well-managed and secure communities." Colonnade BridgePort has established itself as a trusted leader in real estate investment and management across Ontario and Atlantic Canada. Known for their commitment to excellence with over 35 years of experience, they offer a full-service platform that includes property management, leasing, development management, investment management, and asset management. This partnership with APOLLO allows Colonnade BridgePort to streamline insurance compliance for property managers while giving residents easy, instant access to digital insurance solutions. "Colonnade BridgePort is excited to partner with APOLLO to enhance the insurance experience for our residents," said Kandas Miller, Colonnade Bridgeport Director, Residential Real Estate. "The integration of APOLLO's digital platform allows us to not only provide residents with instant access to tailored insurance, but also enhance the overall resident experience. This partnership supports our goal of delivering innovative services that make life easier for both residents and property managers alike." In 2022, APOLLO became the only Insurance provider in Canada to integrate with Yardi Systems to enable instant insurance transactions and automate compliance, with real time tracking and alerts for property managers. Earlier this year, APOLLO launched FinShore, a wholly owned buy now, pay later (BNPL) subsidiary, to provide a fully embedded monthly payment option to their customers. Visit for more information. About APOLLO InsuranceAPOLLO Insurance ("Apollo Insurance Solutions Ltd. and its subsidiaries") is Canada's leading online insurance provider. Our proprietary platform allows insurance agents and their customers to purchase their policy immediately, from anywhere, on any device, 24/7. Unlike traditional paper-based processes, APOLLO leverages extensive data and sophisticated algorithms to quote, collect a payment, and issue policies without human intervention. Through traditional agents and embedded finance partnerships, APOLLO is redefining the distribution of insurance. For more information visit About Colonnade BridgePortColonnade BridgePort is a full-service real estate company, offering property management and leasing services, acquisition, development, investment management and asset management for commercial and residential properties. We take the time to understand our clients' objectives and then apply our real estate expertise and market knowledge to drive better performance. Colonnade BridgePort is headquartered in Ottawa with offices in Mississauga, Toronto, Dartmouth and Fredericton. View source version on Contacts For media inquiries, please contact: David Dyck, Chief Marketing OfficerAPOLLOEmail: david@ LinkedIn: APOLLO Rachal FleuryManager, Marketing and Communicationsrfleury@ | 343.633.5129
Yahoo
04-03-2025
- Business
- Yahoo
APOLLO and LK Apartments Partner to Offer Digital Insurance to Residents
TORONTO, March 04, 2025--(BUSINESS WIRE)--APOLLO Insurance, a Canadian digital insurance provider and leading innovator in the emerging embedded finance sector, has partnered with LK Apartments to provide instant digital insurance solutions specifically designed for renters. APOLLO's digital platform launched in 2019 and began serving Canadian consumers with fully digital insurance products. Since then, APOLLO has partnered with leading REITs, property management companies, proptechs, and other organizations to embed insurance products into their existing workflows. For property managers, the insurance purchase experience is embedded directly into the leasing and renewal workflows. "We're excited to collaborate with LK Apartments to offer a fast, convenient, and fully digital insurance experience for their tenants," said Jeff McCann, APOLLO Founder and CEO. "LK Apartments is committed to providing exceptional service to its residents, and this partnership aligns perfectly with our mission to make insurance effortless for renters and property managers alike." LK Apartments is known for its commitment to modern, resident-focused property management, offering high-quality rental experiences. By integrating APOLLO's digital insurance solution, LK Apartments is enhancing its leasing process, ensuring that tenants can secure the coverage they need in just minutes. "At LK Apartments, we prioritize the well-being of our residents by providing not just great living spaces, but also services that simplify their renting experience," said Roxane Bernhard, LK Apartments Senior Property Manager. "By partnering with APOLLO, we're giving our residents a hassle-free way to obtain insurance, protecting them from unexpected events while supporting our property management teams with easy compliance tracking." In 2022, APOLLO became the only Insurance provider in Canada to integrate with Yardi Systems to enable instant insurance transactions and automate compliance, with real time tracking and alerts for property managers. Earlier this year, APOLLO launched FinShore, a wholly owned buy now, pay later (BNPL) subsidiary, to provide a fully embedded monthly payment option to their customers. Visit for more information. About APOLLO Insurance APOLLO Insurance ("Apollo Insurance Solutions Ltd. and its subsidiaries") is Canada's leading online insurance provider. Our proprietary platform allows insurance agents and their customers to purchase their policy immediately, from anywhere, on any device, 24/7. Unlike traditional paper-based processes, APOLLO leverages extensive data and sophisticated algorithms to quote, collect a payment, and issue policies without human intervention. Through traditional agents and embedded finance partnerships, APOLLO is redefining the distribution of insurance. For more information visit About LK Apartments LK Apartments is a leading property management company in Waterloo, Ontario, specializing in professionally managed rental housing. With a strong presence in the region, LK Apartments has built a reputation for providing well-maintained, strategically located properties that serve the needs of students, professionals, and long-term residents. The company focuses on operational excellence, resident satisfaction, and innovative property management solutions that streamline leasing and compliance processes. View source version on Contacts For media inquiries, please contact: David Dyck, Chief Marketing OfficerAPOLLOEmail: david@ LinkedIn: APOLLO Roxane Bernhard, Senior Property ManagerLK ApartmentsEmail: Rbernhard@ LinkedIn: Asset Maintenance Pros Sign in to access your portfolio
