Home Top Movers Why Marker Therapeutics Inc (MRKR) stock surged on Thursday?

Why Marker Therapeutics Inc (MRKR) stock surged on Thursday?

Marker Therapeutics Inc (MRKR) stock had a good Thursday, April 22. In the normal trading session, MRKR stock gained 3.38% and, in the after-hours, it kept its momentum going and surged 7.01%. MRKR shares have risen by 4.90% over the last 12 months, and they have moved up by 2.39% in the past week. Over the past three months, the stock has gained 5.42%, while over the past six months, it has added 27.38%.

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Let’s check Marker Therapeutics recent news.


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Closing public offering of MRKR common stock

On March 16, 2021, Marker Therapeutics, Inc. closed an underwritten public offering of 32,282,857 shares of its common stock at a public offering price of $1.75 per share.

The gross proceeds of approximately $56.5 million are expected from the offering.

Participation in the investor conference

Marker Therapeutics recently participated in the virtual Oppenheimer 31st Annual Healthcare Conference which held on Wednesday, March 17, 2021, at 3:10 p.m. ET.

Peter L. Hoang, President and Chief Executive Officer of Marker Therapeutics represented the company.

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Latest financial results

On March 9, 2021 /PRNewswire/ – Marker Therapeutics, Inc. announced its financial results for the fiscal year ended December 31, 2020.

FY 2020 financial highlights

  • Marker suffered a net loss of $28.7 million for FY 2020 compared to a net loss of $21.4 million for FY 2019.
  • Marker Therapeutics spent $18.9 million in research and development expenses for the FY 2020, compared to $12.8 million for the year ended December 31, 2019.
  • General and administrative expenses were $10.5 million for the year ended December 31, 2020, compared to $10.0 million for the year ended December 31, 2019.
  • Marker had cash and cash equivalents of $21.4 million as of December 31, 2020.

 The first Patient received the dose of MT-401 in the phase 2 trial

On March 3, 2021, Marker Therapeutics, Inc. announced that in the phase 2 trial, the first patient received the dose of MT-401, its lead MultiTAA-specific T cell product candidate.

The phase 2 trial is enrolling patients with acute myeloid leukemia (AML) following an allogeneic stem cell transplant in both the adjuvant and active disease settings.

New manufacturing facility completion

On January 13, 2021, Marker Therapeutics, Inc. announced the construction completion and qualification of its cGMP manufacturing facility in Houston, TX, located near the George Bush Intercontinental Airport.

The new facility is expected to be fully operational in the first half of 2021 and will be used for the production of MultiTAA-specific T cell products according to FDA guidelines.

FDA lifted the partial hold on the Phase 2 trial of MT-401

On January 5, 2021, Marker Therapeutics, Inc announced that the partial clinical hold on the Company’s Phase 2 trial investigating the safety and efficacy of MT-401 has been lifted by the FDA

MT-401 is Marker’s lead multi-tumor-associated antigen (MultiTAA)-specific T cell product candidate for the treatment of post-transplant acute myeloid leukemia (AML).

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Conclusion

Well, we have no recent news in the market to justify its gains on Thursday but the company is performing well and we can expect that it will continue its positivity on Friday as well.

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