Marker Therapeutics, Inc. (NASDAQ:) recently reported a significant acquisition of its common stock by New Enterprise Associates 16, L.P. The investors purchased 554,250 shares at a price of $3.20 per share, totaling approximately $1.77 million. According to InvestingPro data, the stock is currently trading below its Fair Value, despite experiencing a -8% decline over the past week. This transaction was completed on December 23, 2024, under a Securities Purchase Agreement dated December 19, 2024. Following this acquisition, New Enterprise Associates 16, L.P. holds 1,625,678 shares of Marker Therapeutics. The shares are directly held by New Enterprise Associates 16, L.P., with indirect holdings by NEA Partners 16, L.P., NEA 16 GP, LLC, and several individual managers. InvestingPro analysis shows the company maintains a healthy current ratio of 3.15, with cash reserves exceeding debt obligations. Discover more insights and 8 additional ProTips with an InvestingPro subscription.
In other recent news, Marker Therapeutics has reported promising results from its lymphoma study, with a 78% objective response rate observed in patients. The company has also seen significant revenue growth, showing a 79% increase in the last twelve months. In addition to this, Marker Therapeutics has been awarded a $9.5 million grant by the Cancer Prevention & Research Institute of Texas (CPRIT), which will fund a clinical study of their immunotherapy product, MT-601, for metastatic pancreatic cancer patients. This grant, along with a $2 million award from the NIH Small Business Innovation Research (SBIR) program, is set to advance MT-601’s clinical program, expected to begin in 2025. Despite these positive developments, analysts have noted that the company is not expected to reach profitability this year. Marker Therapeutics continues to focus on the advancement of its T cell-based immunotherapies, aiming to improve patient outcomes through innovative treatments. This recent news underscores the company’s commitment to operational excellence and the development of new therapies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
