Marker Therapeutics, Inc. reported its financial results for the third quarter ended September 30, 2024, with cash and cash equivalents totaling $9 million. The company anticipates this capital will fund operating expenses into October 2025, assuming effective cost management and utilization of grant funds.
Research and development expenses increased by 75% to $3.5 million for the quarter, up from $2.0 million in the prior year, driven by heightened clinical trial activity. Conversely, general and administrative expenses decreased by 35.7% to $0.9 million, reflecting savings from a reorganization completed in late 2023.
The net loss from continuing operations for the quarter was $2.3 million, an improvement from $3.0 million in the third quarter of 2023. The company also announced the receipt of two $2 million Small Business Innovation Research (SBIR) grants from the National Institutes of Health (NIH) to support MT-601 development in non-Hodgkin’s lymphoma and pancreatic cancer.
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