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Marker Therapeutics

MRKR Lead: Phase 1 ★ Read the deep dive → 8 Biotech Distilled articles ↓ 10 filings & releases ↓ Cash $11.3M (Jun 30, 2026) ↓ 8 verdicts ↓
Oncology Cell

Market cap $14.8M 16.7M shares (10-Q, Aug 7, 2026) × $0.890 close Nov 6, 2026

Most recent annual filing: 2026-03-15

Catalyst timeline

2 trackedQuarter catalyst calendar →
  1. MT-601 PANACEA trial start1Q 2027MT-601 PANACEA trial start, 1Q 2027, routine
  2. Corporate cash runway update2Q 2027Corporate cash runway update, 2Q 2027, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (4 active programs)

Technology platforms

MAR-T · Baylor College of Medicine

Multi-antigen recognizing (MAR) T cell platform — non-genetically modified cell therapy that selectively expands tumor-specific T cells recognizing a broad range of tumor antigens across up to six targets; focus areas include hematologic malignancies and solid tumors including pancreatic cancer and lymphoma.

Targets: NY-ESO-1, PRAME, MAGE-A4, Survivin, WT1, SSX2

MAR-T cells

Multi-antigen recognizing (MAR) T cell platform (formerly multiTAA-specific T cells); non-genetically modified cell therapy that selectively expands tumor-specific T cells recognizing up to six tumor antigens; focus on lymphoma and other oncology indications

Targets: Survivin, PRAME, WT-1, NY-ESO-1, SSX-2, MAGEA-4

Capital (as filed)

Cash
$11.3M cash and cash equivalents · Jun 30, 2026 (10-Q)
Operating cash flow
−$3.7M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$11.9M cash, runway second quarter of 2027 per the update of Aug 14, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (8)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (8 calls)

Every verdict Biotech Distilled has published on Marker Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-03-10 Watch Marker Therapeutics (MRKR) - Scientific Deep Dive for and MT-601 and Pipeline Products The science is compelling but the balance sheet is too weak for confident position-building, making MRKR a watch-list name rather than an actionable buy.
  2. 2026-03-15 Avoid UPDATE: Marker Therapeutics (MRKR) - The Dilution Gap Becomes a Reality The reverse split filing confirms the dilution trap thesis, making MRKR a vehicle for nimble traders rather than investors, with management obligated to sell equity into any clinical strength.
  3. 2026-03-22 Avoid UPDATE: Marker Therapeutics (MRKR) - 10-K & Definitive Proxy Drop The definitive proxy confirms the dilution machine thesis; any clinical data spike will be met with a deluge of newly minted shares sold into the open market.
  4. 2026-04-01 Avoid CORRECTION: Marker Therapeutics (MRKR) - MRKR's Dilution Trap is Actually Bigger Than I Thought The actual dilution mechanism is a 100-million-share authorized share expansion rather than a reverse split, making the dilution threat larger than initially modeled.
  5. 2026-05-04 Avoid UPDATE: Marker Therapeutics (MRKR) - The Dilution Cannon Gets Loaded Shareholders approved a 130M authorized share expansion giving management industrial-scale dilution capacity, making every catalyst feedstock for the cannon rather than a re-rating.
  6. 2026-05-16 Avoid UPDATE: Marker Therapeutics (MRKR) - Q1 Numbers, Stretched Runway, Stretched Vendors The runway extension to Q1 2027 is a tactical win for management not shareholders, as it gives them freedom to time the equity raise around the APOLLO catalyst rather than being forced by the calendar.
  7. 2026-08-15 Avoid UPDATE: Marker Therapeutics (MRKR) - The Catalyst That Didn't Show Up The APOLLO 1H 2026 readout never arrived, R&D spend collapsed 65% suggesting a program in a holding pattern, and the dilution architecture remains fully loaded and untouched.
  8. 2026-10-20 Avoid UPDATE: Marker Therapeutics (MRKR) - A Grant, a Pop, and a Quiet Nine-Month Slip A $2.6M FDA grant drove a 15% pop but both named catalysts have now slipped, with the pancreatic start moving to Q1 2027 and APOLLO still missing its 1H 2026 window.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Filings & releases (10)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Sep 22, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

2 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)