$MRKR
Marker Therapeutics, Inc.

2023 Q2 Form 10-Q Financial Statement

#000141057823001217 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $762.7K $4.734M
YoY Change -3.52% 390.95%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.519M $2.516M
YoY Change -28.35% -32.61%
% of Gross Profit
Research & Development $2.378M $7.271M
YoY Change -63.72% 3.48%
% of Gross Profit
Depreciation & Amortization $818.2K
YoY Change 41.97%
% of Gross Profit
Operating Expenses $4.897M $9.787M
YoY Change -51.38% -9.04%
Operating Profit -$4.134M -$5.052M
YoY Change -55.45% -48.42%
Interest Expense $35.08K $84.65K
YoY Change -1.98% 2613.14%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$4.099M -$4.968M
YoY Change -55.66% -49.88%
Income Tax
% Of Pretax Income
Net Earnings $2.516M -$4.968M
YoY Change -127.21% -49.88%
Net Earnings / Revenue 329.87% -104.93%
Basic Earnings Per Share $0.29 -$0.57
Diluted Earnings Per Share $0.29 -$0.57
COMMON SHARES
Basic Shares Outstanding 8.799M 8.799M
Diluted Shares Outstanding 8.799M 8.721M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.12M $6.401M
YoY Change -29.82% -77.65%
Cash & Equivalents $18.10M $6.400M
Short-Term Investments
Other Short-Term Assets $2.087M $2.429M
YoY Change -26.15% 2.13%
Inventory
Prepaid Expenses $2.087M $2.429M
Receivables $1.000M
Other Receivables $1.746M $1.083M
Total Short-Term Assets $21.96M $10.91M
YoY Change -25.0% -64.82%
LONG-TERM ASSETS
Property, Plant & Equipment $11.70M
YoY Change -18.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $0.00 $17.03M
YoY Change -100.0% -28.87%
TOTAL ASSETS
Total Short-Term Assets $21.96M $10.91M
Total Long-Term Assets $0.00 $17.03M
Total Assets $21.96M $27.94M
YoY Change -58.04% -49.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.330M $2.863M
YoY Change -24.73% -42.92%
Accrued Expenses $1.717M
YoY Change -24.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.921M $5.204M
YoY Change -78.32% -36.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $6.824M
YoY Change -100.0% -38.17%
Total Long-Term Liabilities $0.00 $6.824M
YoY Change -100.0% -38.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.921M $5.204M
Total Long-Term Liabilities $0.00 $6.824M
Total Liabilities $2.921M $12.03M
YoY Change -87.98% -37.52%
SHAREHOLDERS EQUITY
Retained Earnings -$430.5M -$433.0M
YoY Change 3.17% 6.12%
Common Stock $8.799K $8.799K
YoY Change -89.47% -89.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.03M $15.91M
YoY Change
Total Liabilities & Shareholders Equity $21.96M $27.94M
YoY Change -58.04% -49.16%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $2.516M -$4.968M
YoY Change -127.21% -49.88%
Depreciation, Depletion And Amortization $818.2K
YoY Change 41.97%
Cash From Operating Activities -$7.057M -$5.888M
YoY Change 787.95% -51.84%
INVESTING ACTIVITIES
Capital Expenditures $112.6K
YoY Change -104.59%
Acquisitions
YoY Change
Other Investing Activities $18.66M
YoY Change
Cash From Investing Activities $18.78M -$112.6K
YoY Change -928.54% -95.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 740.0 620.0K
YoY Change -98.84%
NET CHANGE
Cash From Operating Activities -7.057M -5.888M
Cash From Investing Activities 18.78M -112.6K
Cash From Financing Activities 740.0 620.0K
Net Change In Cash 11.72M -5.381M
YoY Change -491.04% -118.68%
FREE CASH FLOW
Cash From Operating Activities -$7.057M -$5.888M
Capital Expenditures $112.6K
Free Cash Flow -$6.001M
YoY Change -38.6%

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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 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><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Reverse Stock Split</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On January 26, 2023, the Company effected a one-for-ten (1-for-10) reverse stock split of its common stock (the “Reverse Stock Split”) and a corresponding reduction in the total number of authorized shares of its common stock from 300,000,000 to 30,000,000. The Reverse Stock Split, which was approved by stockholders at an annual stockholder meeting on May 24, 2022, was consummated pursuant to a Certificate of Amendment filed with the Secretary of State of Delaware on January 26, 2023. The Reverse Stock Split was effective on January 26, 2023. All references to common stock, warrants to purchase common stock, options to purchase common stock, share data, per share data and related information contained in the condensed consolidated financial statements have been retrospectively adjusted to reflect the effect of the Reverse Stock Split for all periods presented. Payment for fractional shares resulting from the reverse stock split amounted to $394.80.</p>
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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, 2023 or for any future interim period. The condensed consolidated balance sheet at March 31, 2023 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, 2022 and notes thereto included in the Company’s annual report on Form 10-K filed on March 22, 2023.</p>
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GrantsReceivable
2000000.0
CY2023Q1 mrkr Research And Development Including Capital Expenditure Cost
ResearchAndDevelopmentIncludingCapitalExpenditureCost
19000000.0
CY2023Q1 us-gaap Depreciation
Depreciation
800000
CY2022 us-gaap Depreciation
Depreciation
600000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
7500000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-4967576
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-9910508
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8721031
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8310765
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.57
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.19
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3145000
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2921900
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17794000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17597000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6092000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5274000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11702000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
258000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
425000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
26000
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
109000
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
179000
CY2023Q1 us-gaap Lease Cost
LeaseCost
393000
CY2022Q1 us-gaap Lease Cost
LeaseCost
607000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
232000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
316000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y3M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y6M
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
751000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1254000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1290000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1177000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1163000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3590000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9225000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1736000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
7489000
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
2863000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1612000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
454000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1779000
CY2023Q1 mrkr Accrued Process Development Expenses Current
AccruedProcessDevelopmentExpensesCurrent
329000
CY2022Q4 mrkr Accrued Process Development Expenses Current
AccruedProcessDevelopmentExpensesCurrent
342000
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
598000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
558000
CY2022Q4 mrkr Arbitration Settlement Liabilities Current
ArbitrationSettlementLiabilitiesCurrent
114000
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
295000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
300000
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
4539000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
4705000
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1848000
CY2022Q4 mrkr Class Of Warrant Or Rights Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightsOutstandingWeightedAverageExercisePrice
44.51
CY2022 mrkr Class Of Warrant Or Rights Outstanding Weighted Average Remaining Contractual Life
ClassOfWarrantOrRightsOutstandingWeightedAverageRemainingContractualLife
P0Y9M14D
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1848000
CY2023Q1 mrkr Class Of Warrant Or Rights Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightsOutstandingWeightedAverageExercisePrice
44.51
CY2023Q1 mrkr Class Of Warrant Or Rights Outstanding Weighted Average Remaining Contractual Life
ClassOfWarrantOrRightsOutstandingWeightedAverageRemainingContractualLife
P0Y6M18D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
2.15
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.90
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.04
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
660000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1631000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3500000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
CY2021Q3 mrkr Receipt Of Product Development Research Award
ReceiptOfProductDevelopmentResearchAward
13100000
CY2023Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
215000
CY2022Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1012000
CY2023Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
97400

Files In Submission

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mrkr-20230331_cal.xml Edgar Link unprocessable
mrkr-20230331_def.xml Edgar Link unprocessable
0001410578-23-001217-index-headers.html Edgar Link pending
0001410578-23-001217-index.html Edgar Link pending
0001410578-23-001217.txt Edgar Link pending
0001410578-23-001217-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mrkr-20230331.xsd Edgar Link pending
mrkr-20230331x10q.htm Edgar Link pending
mrkr-20230331x10q001.jpg Edgar Link pending
mrkr-20230331x10q002.jpg Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
mrkr-20230331xex10d1.htm Edgar Link pending
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mrkr-20230331xex31d1.htm Edgar Link pending
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mrkr-20230331_lab.xml Edgar Link unprocessable
mrkr-20230331_pre.xml Edgar Link unprocessable
mrkr-20230331x10q_htm.xml Edgar Link completed
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