$MRKR
Marker Therapeutics, Inc.

2021 Q2 Form 10-Q Financial Statement

#000110465921102826 Filed on August 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $0.00 $466.8K $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.559M $2.550M $2.830M
YoY Change 39.57% -6.25% 0.71%
% of Gross Profit
Research & Development $7.350M $4.277M $3.817M
YoY Change 71.85% 35.67% 34.73%
% of Gross Profit
Depreciation & Amortization $500.0K $100.0K $35.27K
YoY Change 400.0% 233.33% 235.41%
% of Gross Profit
Operating Expenses $10.91M $6.824M $6.644M
YoY Change 59.86% 16.19% 17.83%
Operating Profit -$10.91M -$6.358M -$6.644M
YoY Change 71.59% 8.24% 17.83%
Interest Expense $2.400K $20.00K $160.0K
YoY Change -88.0% -93.33% -50.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$10.91M -$6.340M -$6.490M
YoY Change 72.03% 13.82% 21.99%
Income Tax
% Of Pretax Income
Net Earnings -$10.91M -$6.342M -$6.486M
YoY Change 71.99% 13.85% 21.94%
Net Earnings / Revenue -1358.59%
Basic Earnings Per Share -$0.13
Diluted Earnings Per Share -$0.13 -$136.1K -$140.8K
COMMON SHARES
Basic Shares Outstanding 83.03M 46.57M 46.08M
Diluted Shares Outstanding 83.03M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $57.22M $32.12M $40.26M
YoY Change 78.15% -39.9% -30.24%
Cash & Equivalents $57.20M $32.10M $40.26M
Short-Term Investments
Other Short-Term Assets $2.802M $2.630M $1.720M
YoY Change 6.53% 436.73% 681.82%
Inventory
Prepaid Expenses $2.802M $2.633M
Receivables
Other Receivables $1.000M $1.000M
Total Short-Term Assets $60.02M $34.76M $42.00M
YoY Change 72.68% -35.67% -27.63%
LONG-TERM ASSETS
Property, Plant & Equipment $10.11M $4.221M $890.0K
YoY Change 139.47% 339.69% 147.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $20.45M $13.76M $890.0K
YoY Change 48.56% 1318.91% -6.58%
TOTAL ASSETS
Total Short-Term Assets $60.02M $34.76M $42.00M
Total Long-Term Assets $20.45M $13.76M $890.0K
Total Assets $80.47M $48.52M $42.89M
YoY Change 65.84% -11.78% -27.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.042M $2.808M $1.660M
YoY Change -27.28% 95.0% -0.6%
Accrued Expenses $2.409M $2.050M $1.270M
YoY Change 17.5% 109.18% 89.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.660M $4.984M $3.160M
YoY Change 13.55% 55.27% 7.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.57M $9.030M $230.0K
YoY Change 28.11% 2215.38% -47.73%
Total Long-Term Liabilities $11.57M $9.025M $230.0K
YoY Change 28.17% 2214.17% -47.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.660M $4.984M $3.160M
Total Long-Term Liabilities $11.57M $9.025M $230.0K
Total Liabilities $17.23M $14.01M $3.390M
YoY Change 22.97% 290.23% 0.38%
SHAREHOLDERS EQUITY
Retained Earnings -$375.9M -$340.4M
YoY Change 10.45%
Common Stock $83.08K $46.62K
YoY Change 78.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $63.24M $34.51M $39.50M
YoY Change
Total Liabilities & Shareholders Equity $80.47M $48.52M $42.89M
YoY Change 65.84% -11.78% -27.29%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$10.91M -$6.342M -$6.486M
YoY Change 71.99% 13.85% 21.94%
Depreciation, Depletion And Amortization $500.0K $100.0K $35.27K
YoY Change 400.0% 233.33% 235.41%
Cash From Operating Activities -$5.826M -$4.300M -$4.099M
YoY Change 35.48% 2.87% 5.64%
INVESTING ACTIVITIES
Capital Expenditures -$1.361M -$3.830M -$100.0K
YoY Change -64.46% 4155.56% -144.82%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.361M -$3.830M -$99.82K
YoY Change -64.46% 4155.56% -55.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -104.1K 0.000 550.0K
YoY Change 771.31%
NET CHANGE
Cash From Operating Activities -5.826M -4.300M -4.099M
Cash From Investing Activities -1.361M -3.830M -99.82K
Cash From Financing Activities -104.1K 0.000 550.0K
Net Change In Cash -7.291M -8.130M -3.649M
YoY Change -10.32% 90.4% -9.68%
FREE CASH FLOW
Cash From Operating Activities -$5.826M -$4.300M -$4.099M
Capital Expenditures -$1.361M -$3.830M -$100.0K
Free Cash Flow -$4.465M -$470.0K -$3.999M
YoY Change 849.95% -88.51% -2.54%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">NOTE 1: NATURE OF OPERATIONS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Marker Therapeutics, Inc., a Delaware corporation (the “Company” or “we”), is a clinical-stage immuno-oncology company specializing in the development and commercialization of novel T cell-based immunotherapies and innovative peptide-based vaccines for the treatment of hematological malignancies and solid tumor indications. The Company’s MultiTAA T cell technology is based on the selective expansion of non-engineered, tumor-specific T cells that recognize tumor associated antigens, which are tumor targets, and kill tumor cells expressing those targets. These T cells are designed to recognize multiple tumor targets to produce broad spectrum anti-tumor activity. </p>
us-gaap Basis Of Accounting
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">NOTE 2: BASIS OF PRESENTATION</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of such interim results.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The results for the condensed consolidated statement of operations are not necessarily indicative of results to be expected for the year ending December 31, 2021 or for any future interim period. The condensed consolidated balance sheet at June 30, 2021 has been derived from unaudited financial statements; however, it does not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2020 and notes thereto included in the Company’s annual report on Form 10-K filed on March 9, 2021.</p>
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
57200000
CY2021Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
32282857
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
52600000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-6341699
us-gaap Net Income Loss
NetIncomeLoss
-19686232
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-10906782
us-gaap Net Income Loss
NetIncomeLoss
-12827343
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83030470
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46572739
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69823729
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46328561
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.13
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.14
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.28
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.28
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
28291000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27223000
CY2021Q2 us-gaap Tenant Improvements
TenantImprovements
1000000.0
CY2020Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1000000.0
CY2021Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1000000.0
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11732000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4162000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1624000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
591000
CY2020Q4 mrkr Construction In Progress
ConstructionInProgress
6789000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10108000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10360000
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
6800000
CY2021Q2 us-gaap Depreciation
Depreciation
500000
CY2020Q2 us-gaap Depreciation
Depreciation
100000
us-gaap Depreciation
Depreciation
1000000.0
us-gaap Depreciation
Depreciation
100000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10300000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
425000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
103000
us-gaap Operating Lease Cost
OperatingLeaseCost
850000
us-gaap Operating Lease Cost
OperatingLeaseCost
158000
CY2020Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
22000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
129000
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
5000
us-gaap Variable Lease Cost
VariableLeaseCost
262000
us-gaap Variable Lease Cost
VariableLeaseCost
16000
CY2021Q2 us-gaap Lease Cost
LeaseCost
554000
CY2020Q2 us-gaap Lease Cost
LeaseCost
111000
us-gaap Operating Lease Payments
OperatingLeasePayments
477000
us-gaap Operating Lease Payments
OperatingLeasePayments
248000
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y10M24D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y3M18D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.057
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.057
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
600000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1278000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1542000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1826000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1874000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
8772000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
15892000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3765000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
12127000
CY2021Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
2042000
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2935000
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1105000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1694000
CY2021Q2 mrkr Accrued Process Development Expenses Current
AccruedProcessDevelopmentExpensesCurrent
777000
CY2020Q4 mrkr Accrued Process Development Expenses Current
AccruedProcessDevelopmentExpensesCurrent
277000
CY2021Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
445000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
875000
CY2021Q2 mrkr Accrued Technology License Fees
AccruedTechnologyLicenseFees
300000
CY2020Q4 mrkr Accrued Technology License Fees
AccruedTechnologyLicenseFees
105000
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
432000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
127000
CY2021Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
5101000
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
6013000
us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
1600000
mrkr Loss Contingency Damages Sought Number Of Transactions
LossContingencyDamagesSoughtNumberOfTransactions
2
mrkr Loss Contingency Damages Sought Interest
LossContingencyDamagesSoughtInterest
335000
mrkr Loss Contingency Damages Sought Attorneys Fees
LossContingencyDamagesSoughtAttorneysFees
600000
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20830000
CY2020Q4 mrkr Class Of Warrant Or Rights Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightsOutstandingWeightedAverageExercisePrice
4.47
CY2020 mrkr Class Of Warrant Or Rights Outstanding Weighted Average Remaining Contractual Life
ClassOfWarrantOrRightsOutstandingWeightedAverageRemainingContractualLife
P2Y7M6D
CY2020Q4 mrkr Class Of Warrant Or Right Outstanding Intrinsic Value
ClassOfWarrantOrRightOutstandingIntrinsicValue
0
CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20830000
CY2021Q2 mrkr Class Of Warrant Or Rights Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightsOutstandingWeightedAverageExercisePrice
4.47
mrkr Class Of Warrant Or Rights Outstanding Weighted Average Remaining Contractual Life
ClassOfWarrantOrRightsOutstandingWeightedAverageRemainingContractualLife
P2Y1M9D
CY2021Q2 mrkr Class Of Warrant Or Right Outstanding Intrinsic Value
ClassOfWarrantOrRightOutstandingIntrinsicValue
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1456
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
3.06
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.95
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.01
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1652000
CY2020Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1361000
us-gaap Share Based Compensation
ShareBasedCompensation
3029000
us-gaap Share Based Compensation
ShareBasedCompensation
2705000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
11200000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2021Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
955000
CY2020Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
193000
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1423000
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
447000

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