HOUSTON - Marker Therapeutics, Inc. (NASDAQ: NASDAQ:MRKR), a clinical-stage immuno-oncology company, has been granted $9.5 million by the Cancer Prevention & Research Institute of Texas (CPRIT) to fund a clinical study of its immunotherapy product, MT-601, in metastatic pancreatic cancer patients. The grant will support the Phase 1 PANACEA study, which examines the safety and tolerability of MT-601.
MT-601 is a multi-tumor associated antigen (multiTAA)-specific T cell product currently under investigation in a separate study for CD19-CAR relapsed lymphoma. The product targets six tumor-specific antigens highly expressed in various cancers. Preliminary results from a study at City of Hope National Medical (TASE:PMCN) Center showed sustained objective responses in three participants.
The grant from CPRIT, combined with a $2 million NIH Small Business Innovation Research (SBIR) program award, will aid in advancing MT-601's clinical program, expected to commence in 2025. According to Juan Vera, M.D., President and CEO of Marker Therapeutics, the funding is a testament to the innovation of their therapy and the potential impact of the study.
The PANACEA study builds upon earlier research, such as the TACTOPS trial, conducted at Baylor College of Medicine. This previous study showed that multiTAA-specific T cells were associated with a favorable safety profile and durable cancer control in pancreatic cancer patients treated alongside frontline chemotherapy.
Marker Therapeutics' approach with MT-601 involves a non-genetically modified method targeting multiple antigens to potentially reduce the risk of tumor escape. The company emphasizes the ease of manufacture and improved safety profile of their T cell products compared to genetically engineered therapies.
The company has received over $30 million in non-dilutive funding from governmental institutions, including the FDA, NIH, and CPRIT, to support its research efforts. With a strong current ratio of 3.15 and more cash than debt on its balance sheet, Marker Therapeutics demonstrates solid liquidity positioning. The company continues to focus on developing T cell-based immunotherapies for hematological malignancies and solid tumor indications, aiming to improve patient outcomes through novel treatments. InvestingPro subscribers can access 7 additional key insights about MRKR's financial position and growth prospects.
The company has shown impressive revenue growth of 79% over the last twelve months, though analysts note it's not expected to achieve profitability this year. For deeper analysis and real-time updates on MRKR's financial metrics, visit InvestingPro.
This news is based on a press release statement from Marker Therapeutics.
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