Marker Therapeutics Inc. (MRKR) shares surged 23.81% in after-hours on Thursday, August 19, 2021, and closed the daily trading at $2.08 per share. However, in the regular trading session of Thursday, MRKR’s stock lost 5.08%. MRKR shares have fallen 11.58% over the last 12 months, and they have moved down 15.15% in the past week. Over the past three months, the stock has lost 33.33%, while over the past six months, it has shed 40.85%.
Let’s see is there any reason behind its exceptional surge?
MRKR received a financial grant
On Aug. 19, 2021, Marker Therapeutics, Inc. (MRKR) received notice of a Product Development Research award totalling approximately $13.1 million from the Cancer Prevention and Research Institute of Texas (CPRIT) to support the Company’s Phase 2 clinical trial of its lead MultiTAA-specific T cell product MT-401.
Recent financial results announcement
On August 10, 2021, Marker Therapeutics, Inc. (MRKR) reported financial results for the second quarter ended June 30, 2021.
MRKR Q2 2021 financial highlights
- MRKR earned zero revenue in Q2 2021 compared to $466,785 in Q2 2020.
- Research and development expenses were $7.4 million in Q2 2021 compared to $4.3 million in Q2 2020.
- General and administrative expenses were $3.6 million for Q2 2021 compared to $2.5 million for the quarter ended June 30, 2020.
- It suffered a net loss of $10.9 million for Q2 2021 compared to $6.3 million for Q2 2020.
- Marker had cash and cash equivalents of $57.2 million on June 30, 2021.
MRKR opened a new cGMP manufacturing facility
On July 28, 2021, Marker Therapeutics, Inc. (MRKR) new cGMP manufacturing facility in Houston, TX, located near the George Bush Intercontinental Airport, became fully operational. The facility will manufacture Marker’s MultiTAA-specific T cell products for the Company’s Phase 2 acute myeloid leukemia (AML) trial as well as future hematological and solid tumour trials, in addition to producing the potential commercial supply of any approved products.
MRKR completed Phase 2 trial of MT-401
On July 6, 2021, Marker Therapeutics, Inc. (MRKR) announced the completion of the six-patient safety lead-in portion of the Company’s Phase 2 trial of MT-401, its lead MultiTAA-specific T cell product candidate, for the treatment of post-transplant acute myeloid leukemia (AML).
Participation in the recent investor conference
Marker Therapeutics, Inc. (MRKR) recently participated in the virtual Raymond James Human Health Innovation Conference which was held on Monday, June 21, 2021. The company was presented by its Chief Financial Officer, Anthony H. Kim.
Conclusion
The Stock went up in the after-hours after the company announced that it received a financial grant. We can expect it to continue to perform well on the last trading day of the week.
