Steve Elms, a director at Marker Therapeutics Inc. (NASDAQ:MRKR), recently acquired shares in the company. On December 23, Elms purchased 11,085 shares of Marker Therapeutics' common stock at a price of $3.20 per share, totaling $35,472. The purchase comes as the stock, currently trading at $3.37, appears undervalued according to InvestingPro analysis, despite a 9% decline over the past week. This transaction was executed under a Securities Purchase Agreement dated December 19, 2024. Following this acquisition, Elms holds an indirect ownership of 325,370 shares, which are directly owned by Aisling Capital IV, LP, where Elms shares voting and dispositive power. With a market capitalization of just $29.89 million, InvestingPro data reveals the company maintains strong liquidity with a current ratio of 3.15, suggesting robust short-term financial health. Subscribers can access 5 additional key insights about MRKR's financial position.
In other recent news, Marker Therapeutics reported promising results from their lymphoma study, with an impressive 78% objective response rate. The company also witnessed a significant revenue growth of 79% over the past year. However, analysts do not forecast profitability for the company this year. In addition to these developments, Marker Therapeutics has been granted a $9.5 million fund from the Cancer Prevention & Research Institute of Texas (CPRIT) for a clinical study of their immunotherapy product, MT-601, for metastatic pancreatic cancer patients. This funding, along with a $2 million award from the NIH Small Business Innovation Research (SBIR) program, is expected to advance MT-601's clinical program, which is set to begin in 2025. The company continues to develop its T cell-based immunotherapies to improve patient outcomes. These are some of the recent developments that highlight Marker Therapeutics' commitment to innovative treatments.
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