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HOUSTON, TX – Marker Therapeutics, Inc. (NASDAQ:MRKR), a pharmaceutical company specializing in the development of cancer therapies, has announced the award of stock options to its Chief Executive Officer and several non-employee directors, according to a recent SEC filing. The company, which maintains a healthy balance sheet with more cash than debt and a strong current ratio of 3.15, has seen its stock trading near 52-week lows amid challenging market conditions.
On February 12, 2024, the company’s Compensation Committee and Board of Directors approved a grant of 50,000 stock options to Dr. Juan Vera, the CEO of Marker Therapeutics. These options are part of the company’s 2020 Omnibus Stock Ownership Plan and will vest annually over a three-year period, starting on the anniversary of the grant date.
In addition to the CEO’s award, each non-employee director, namely David Eansor, Katherine Knobil, and Steven Elms, received a discretionary award of 30,000 stock options. These options are also set to vest over three years, adhering to the same terms and conditions as the CEO’s options.
The awards are part of the company’s strategy to align the interests of its leadership with those of its shareholders and to incentivize the continued success of the company. The stock options are subject to the terms and conditions of the Plan and the company’s form of option award agreement.
Marker Therapeutics, formerly known as TapImmune Inc., has undergone several name changes since its inception, with the most recent change occurring in June 2017. The company is incorporated in Delaware and maintains its principal executive offices in Houston, Texas.
This latest corporate action was filed with the SEC on February 19, 2025, and is based on a press release statement. Marker Therapeutics’ stock is traded on The Nasdaq Stock Market under the ticker symbol MRKR.
In other recent news, Marker Therapeutics has shared promising results from its Phase 1 APOLLO study, which evaluated the MT-601 therapy in patients with relapsed lymphoma. The study reported a 78% objective response rate, with 44.4% of patients achieving a complete response at the first assessment, and the treatment was well tolerated with minimal side effects. Marker Therapeutics also received a $9.5 million grant from the Cancer Prevention & Research Institute of Texas to fund a clinical study of MT-601 in metastatic pancreatic cancer patients. This grant will support the Phase 1 PANACEA study, focusing on the safety and tolerability of MT-601.
Additionally, Brookline Capital Markets initiated coverage on Marker Therapeutics with a Buy rating, setting a 12-to-18-month price target of $4.00. The firm highlighted the potential of MT-601 to generate significant sales by 2030, though it noted that Marker is likely to incur operating losses until the anticipated market launch in 2027. In other developments, Marker Therapeutics announced the resignation of Mr. John Wilson from its Board of Directors, effective January 2025, without naming a successor. The company continues to focus on advancing its T cell-based immunotherapies, supported by over $30 million in non-dilutive funding from governmental institutions.
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