Marker Therapeutics (MRKR) Q4 2025 earnings summary

Executive summary

• Achieved a 66% objective response rate in Phase 1 APOLLO study for relapsed non-Hodgkin lymphoma, with 50% complete responses and durable results up to 24 months.

• Expanded MAR-T platform to pancreatic cancer, with promising results published in Nature Medicine and national media coverage.

• Strengthened manufacturing via Cellipont Bioservices collaboration and expanded Board with Kathryn Penkus Corzo.

Financial highlights

• Cash, cash equivalents, and restricted cash totaled $17 million as of December 31, 2025.

• Research and development expenses were $11.8 million, down from $13.5 million year-over-year.

• General and administrative expenses remained flat at $4.2 million year-over-year.

• Net loss increased to $12.2 million from $10.7 million year-over-year.

• Grant income was $3.5 million, down from $6.6 million in the prior year.

Outlook and guidance

• Additional APOLLO study data and FDA feedback expected in Q2 2026.

• Company-sponsored pancreatic cancer clinical program to initiate in Q2 2026.

• Cash runway expected through Q4 2026, assuming no new grant funding.