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Benzinga
Benzinga
Technology
Vandana Singh

Why Are Marker Therapeutics Shares Trading Lower On Thursday?

Marker Therapeutics Inc (NASDAQ:MRKR) shares are trading lower after Roth Capital downgrades the company from Buy to Neutral and lowers the price target from $3 to $1.

  • The company reported initial results from the Phase 2 trial for MT-401 as a treatment option for Acute myeloid leukemia (AML) in the post-transplant setting. 
  • No dose-limiting toxicities, cytokine release syndrome, or neurotoxicity were observed. 
  • 1 MRD+ patient became MRD- after infusion with MT-401.
  • No objective responses from the frank relapse patients were observed.
  • The company developed and is implementing a new nine-day MultiTAA-specific T cell manufacturing process. 
  • The new manufacturing process marks additional improvements compared to the methods used in the Baylor College of Medicine Phase 1/2 trials (36-day manufacturing time) and the current AML trial (20-day manufacturing time). 
  • Marker plans to file Investigational New Drug applications (INDs) for MT-601 in pancreatic cancer and lymphoma in 2022 and expects to initiate these trials in 2023.
  • Price Action: MRKR shares are down 22.30% at $0.48 during the market session on the last check Thursday.
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