Marker Therapeutics Inc

NASDAQ:MRKRUnited States

Nov 14, 2024

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• -- Earnings Flash (MRKR) MARKER THERAPEUTICS Reports Q3 Revenue $1.9M, from 4:31PM ET on Thursday Nov 14, 2024 by MT Newswires

  4:31PM ET on Thursday Nov 14, 2024 by MT Newswires
  Companies Mentioned: MRKR
  04:31 PM EST, 11/14/2024 (MT Newswires) -- ...

• *DJ Marker Therapeutics 3Q Loss/Shr 26c >MRKR, from 4:30PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:30PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: MRKR
  Related party payable 903,438 1,329,655 ------------- ------------- Total current liabilities 3,460,773 3,074,848 Total liabilities 3,460,773 3,074,848 ------------- ------------- Stockholders' equity: Preferred stock, $0.001 par value, 5 million shares authorized, 0 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively -- -- Common stock, $0.001 par value, 30 million shares authorized, 8.9 million shares issued and outstanding as of September 30, 2024 and December 31, 2023 (see Note 9) 8,923 8,891 Additional paid-in capital 450,620,206 450,329,515 Accumulated deficit (443,179,554) (436,285,863) ------------- ------------- Total stockholders' equity 7,449,575 14,052,543 ------------- ------------- Total liabilities and stockholders' equity $ 10,910,348 $ 17,127,391 ============= ============= Marker Therapeutics, Inc. Condensed Consolidated Statements of Operations (Unaudited) For the Three Months Ended For the Nine Months Ended September 30, September 30, ---------------------------------- ----------------------------------- 2024 2023 2024 2023 ------------------ -------------- ------------- ---------------- Revenues Grant income $ 1,926,020 $ 257,606 $ 4,339,317 $ 2,254,601 Total revenues 1,926,020 257,606 4,339,317 2,254,601 ----------- ---- ----------- ----------- ------------ Operating expenses: Research and development 3,471,216 2,044,980 8,381,661 7,799,472 General and administrative 854,677 1,412,672 3,214,611 6,098,716 ----------- ---- ----------- ----------- ------------ Total operating expenses 4,325,893 3,457,652 11,596,272 13,898,188 ----------- ---- ----------- ----------- ------------ Loss from operations (2,399,873) (3,200,046) (7,256,955) (11,643,587) Other income (expenses): Interest income 91,681 218,085 363,264 337,819 ----------- ---- ----------- ----------- ------------ Loss from continuing operations (2,308,192) (2,981,961) (6,893,691) (11,305,768) Discontinued operations: Loss from discontinued operations, net of tax -- -- -- (2,922,406) Gain on disposal of discontinued operations before income taxes -- -- -- 8,794,426 ----------- ---- ----------- ----------- ------------ Income from discontinued operations -- -- -- 5,872,020 ----------- ---- ----------- ----------- ------------ Net (loss) income $ (2,308,192) $ (2,981,961) $ (6,893,691) $ (5,433,748) =========== === =========== =========== ============ Net (loss) earnings per share: Loss from continuing operations, basic and diluted $ (0.26) $ (0.34) $ (0.77) $ (1.29) =========== === =========== =========== ============ Income from discontinued operations, basic $ -- $ -- $ -- $ 0.67 =========== ==== =========== =========== ============ Income from discontinued operations, diluted $ -- $ -- $ -- $ 0.66 =========== ==== =========== =========== ============ Net loss per share $ (0.26) $ (0.34) $ (0.77) $ (0.62) =========== === =========== =========== ============ Weighted average number of common shares outstanding: Basic 8,923,170 8,825,881 8,914,487 8,782,340 =========== ==== =========== =========== ============ Diluted 8,923,170 8,825,881 8,914,487 8,834,512 =========== ==== =========== =========== ============ Marker Therapeutics, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) For the Nine Months Ended September 30, ------------------------------- 2024 2023 ------------- ---------------- Cash Flows from Operating Activities: Net loss $ (6,893,691) $ (5,433,748) Less: gain from discontinued operations, net of tax -- 5,872,020 ----------- ------------ Net loss from continuing operations (6,893,691) (11,305,768) Reconciliation of net loss to net cash used in operating activities: Stock-based compensation 195,320 714,899 Changes in operating assets and liabilities: Prepaid expenses and deposits (178,148) (80,116) Other receivables 283,405 2,318,691 Related party payable (426,217) 367,915 Accounts payable and accrued expenses 812,142 (159,567) Deferred revenue -- 107,530 ----------- ------------ Net cash used in operating activities - continuing operations (6,207,189) (8,036,416) Net cash used in operating activities - discontinued operations -- (6,035,961) ----------- ------------ Net cash used in operating activities (6,207,189) (14,072,377) 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 36,902 1,014,640 Proceeds from stock options exercise 58,501 85,342 ----------- ------------ Net cash provided by financing activities 95,403 1,099,982 ----------- ------------ Net (decrease) increase in cash and cash equivalents (6,111,786) 5,691,727 Cash and cash equivalents at beginning of the period 15,111,450 11,782,172 ----------- ------------ Cash and cash equivalents at end of the period $ 8,999,664 $ 17,473,899 =========== ============
  

• Marker Therapeutics Reports Third Quarter 2024 Financial Results and Provides Business Updates, from 4:30PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:30PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: MRKR
  Related party payable 903,438 1,329,655 ------------- ------------- Total current liabilities 3,460,773 3,074,848 Total liabilities 3,460,773 3,074,848 ------------- ------------- Stockholders' equity: Preferred stock, $0.001 par value, 5 million shares authorized, 0 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively -- -- Common stock, $0.001 par value, 30 million shares authorized, 8.9 million shares issued and outstanding as of September 30, 2024 and December 31, 2023 (see Note 9) 8,923 8,891 Additional paid-in capital 450,620,206 450,329,515 Accumulated deficit (443,179,554) (436,285,863) ------------- ------------- Total stockholders' equity 7,449,575 14,052,543 ------------- ------------- Total liabilities and stockholders' equity $ 10,910,348 $ 17,127,391 ============= ============= Marker Therapeutics, Inc. Condensed Consolidated Statements of Operations (Unaudited) For the Three Months Ended For the Nine Months Ended September 30, September 30, ---------------------------------- ----------------------------------- 2024 2023 2024 2023 ------------------ -------------- ------------- ---------------- Revenues Grant income $ 1,926,020 $ 257,606 $ 4,339,317 $ 2,254,601 Total revenues 1,926,020 257,606 4,339,317 2,254,601 ----------- ---- ----------- ----------- ------------ Operating expenses: Research and development 3,471,216 2,044,980 8,381,661 7,799,472 General and administrative 854,677 1,412,672 3,214,611 6,098,716 ----------- ---- ----------- ----------- ------------ Total operating expenses 4,325,893 3,457,652 11,596,272 13,898,188 ----------- ---- ----------- ----------- ------------ Loss from operations (2,399,873) (3,200,046) (7,256,955) (11,643,587) Other income (expenses): Interest income 91,681 218,085 363,264 337,819 ----------- ---- ----------- ----------- ------------ Loss from continuing operations (2,308,192) (2,981,961) (6,893,691) (11,305,768) Discontinued operations: Loss from discontinued operations, net of tax -- -- -- (2,922,406) Gain on disposal of discontinued operations before income taxes -- -- -- 8,794,426 ----------- ---- ----------- ----------- ------------ Income from discontinued operations -- -- -- 5,872,020 ----------- ---- ----------- ----------- ------------ Net (loss) income $ (2,308,192) $ (2,981,961) $ (6,893,691) $ (5,433,748) =========== === =========== =========== ============ Net (loss) earnings per share: Loss from continuing operations, basic and diluted $ (0.26) $ (0.34) $ (0.77) $ (1.29) =========== === =========== =========== ============ Income from discontinued operations, basic $ -- $ -- $ -- $ 0.67 =========== ==== =========== =========== ============ Income from discontinued operations, diluted $ -- $ -- $ -- $ 0.66 =========== ==== =========== =========== ============ Net loss per share $ (0.26) $ (0.34) $ (0.77) $ (0.62) =========== === =========== =========== ============ Weighted average number of common shares outstanding: Basic 8,923,170 8,825,881 8,914,487 8,782,340 =========== ==== =========== =========== ============ Diluted 8,923,170 8,825,881 8,914,487 8,834,512 =========== ==== =========== =========== ============ Marker Therapeutics, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) For the Nine Months Ended September 30, ------------------------------- 2024 2023 ------------- ---------------- Cash Flows from Operating Activities: Net loss $ (6,893,691) $ (5,433,748) Less: gain from discontinued operations, net of tax -- 5,872,020 ----------- ------------ Net loss from continuing operations (6,893,691) (11,305,768) Reconciliation of net loss to net cash used in operating activities: Stock-based compensation 195,320 714,899 Changes in operating assets and liabilities: Prepaid expenses and deposits (178,148) (80,116) Other receivables 283,405 2,318,691 Related party payable (426,217) 367,915 Accounts payable and accrued expenses 812,142 (159,567) Deferred revenue -- 107,530 ----------- ------------ Net cash used in operating activities - continuing operations (6,207,189) (8,036,416) Net cash used in operating activities - discontinued operations -- (6,035,961) ----------- ------------ Net cash used in operating activities (6,207,189) (14,072,377) 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 36,902 1,014,640 Proceeds from stock options exercise 58,501 85,342 ----------- ------------ Net cash provided by financing activities 95,403 1,099,982 ----------- ------------ Net (decrease) increase in cash and cash equivalents (6,111,786) 5,691,727 Cash and cash equivalents at beginning of the period 15,111,450 11,782,172 ----------- ------------ Cash and cash equivalents at end of the period $ 8,999,664 $ 17,473,899 =========== ============