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On Monday, Brookline Capital Markets initiated coverage on Marker Therapeutics (NASDAQ:MRKR), a company focused on developing T cell-based immunotherapies for cancer, with a Buy rating and a 12-to-18-month price target of $4.00. Currently trading at $1.72 and near its 52-week low, the stock has significant upside potential according to analysts. Marker Therapeutics is currently engaged in clinical-stage research, particularly in the areas of hematologic and solid tumor cancers.
The optimism from Brookline Capital Markets stems from the potential launch of Marker’s MT-601 in treating Diffuse Large B-Cell Lymphoma (DLBCL) by 2027. With a current market capitalization of just $18.21 million and impressive revenue growth of 79% in the last twelve months, the firm estimates that MT-601 could generate sales of approximately $680.5 million by 2030. While these projections are promising, Brookline Capital has not factored in the potential impact of MT-601 on Hodgkin’s Disease or Pancreatic Cancer, nor the potential impact of another product, MT-401, on Acute Myeloid Leukemia (AML). The firm suggests there could be additional upside to their forecasts should these programs succeed.
According to Brookline Capital, Marker Therapeutics is likely to continue incurring operating losses until MT-601’s anticipated market launch in 2027. InvestingPro data shows the company maintains a healthy current ratio of 3.15, with more cash than debt on its balance sheet. However, the firm projects that the company will reach profitability in terms of earnings and operating cash flow starting in 2028, following the successful introduction of MT-601.
The coverage initiation by Brookline Capital Markets reflects a positive outlook for Marker Therapeutics’ future, particularly with respect to its MT-601 therapy. According to InvestingPro analysis, the stock appears undervalued at current levels. The firm’s analysis indicates a belief in the company’s potential to significantly impact the immuno-oncology market and deliver value to shareholders in the long term. InvestingPro subscribers have access to 10 additional ProTips and comprehensive financial metrics to better evaluate this opportunity.
In other recent news, Marker Therapeutics, Inc., a Houston-based biopharmaceutical company, reported a major change in its board composition with the resignation of Mr. John Wilson from its Board of Directors. The company has not yet disclosed the details surrounding Mr. Wilson’s departure or named a successor. In addition, Marker Therapeutics shared promising findings from its Phase 1 APOLLO study of MT-601, a multi-antigen recognizing T cell therapy, in patients with relapsed lymphoma. The study reported a 78% objective response rate with 44.4% achieving complete response at first assessment.
Furthermore, the company has been granted a substantial $9.5 million grant by the Cancer Prevention & Research Institute of Texas (CPRIT) to fund a clinical study of MT-601 in metastatic pancreatic cancer patients. The grant, combined with a $2 million NIH Small Business Innovation Research (SBIR) program award, will assist in advancing MT-601’s clinical program. These recent developments underline Marker Therapeutics’ ongoing focus on developing T cell-based immunotherapies for hematological malignancies and solid tumor indications.
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