On November 9, 2023 Marker Therapeutics, Inc. (Nasdaq: MRKR), a clinical-stage immuno-oncology company focusing on developing next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications, today reported corporate updates and financial results for the third quarter ended September 30, 2023 (Press release, Marker Therapeutics, NOV 9, 2023, View Source [SID1234637402]).
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"During the third quarter of 2023, we continued to diligently advance and execute our clinical objectives across our novel multiTAA-specific T cell pipeline," commented Juan F. Vera, M.D., President and Chief Executive Officer of Marker Therapeutics. "Among the many highlights, we announced in September that we observed a complete response in the first patient with lymphoma treated with MT-601, our multiTAA-specific T cell product candidate targeting six antigens. This study participant was enrolled in our Phase 1 APOLLO trial after failing anti-CD19 CAR T cell therapy. The positive clinical outcome in this CAR T relapsed participant is supported by non-clinical proof-of-concept data and highlights the potential of MT-601 in patients who have relapsed after CAR T cell therapy. Together with the favorable clinical safety and tolerability profile, MT-601 may represent a suitable alternative for the treatment of patients with lymphoma."
"In July, our MT-401 program was granted Orphan Drug Designation by the EMA for the treatment of patients with AML," continued Dr. Vera. "We also reported non-clinical proof-of-concept data from our MT-401-OTS program, which indicated the potential anti-tumor activity of the product in a partially human leukocyte antigen (HLA) matched setting. With the clearance of our clinical protocol for MT-401-OTS from the U.S. FDA and the added validation from our non-clinical work, we anticipate initiating a clinical trial in 2024 to evaluate the potential of this novel therapy in patients with relapsed/refractory AML."
"To maximize shareholder value and accelerate our patient-centric mission, we continue to engage in internal and external conversations with pertinent stakeholders to optimize our clinical development plan, which we expect to announce in the first quarter of 2024. With our healthy balance sheet and clinical progress shown to date, we believe we are well poised to achieve our near-and long-term growth objectives," concluded Dr. Vera.
Program Updates and Expected Milestones:
MT-401 (Acute Myeloid Leukemia)
· Marker was granted ODD from the Committee for Orphan Medicinal Products of the EMA for the treatment of patients with AML. This follows the ODD from U.S. FDA in 2020.
· Marker reported non-clinical proof-of-concept data of MT-401 in an OTS setting and provided updates on clinical readiness for the MT-401-OTS program, which will investigate the treatment of patients with relapsed/refractory AML. Marker has established an inventory for MT-401-OTS and anticipates initial patient treatment in 2024.
· Marker reported non-clinical data to bolster the clinical investigation of MT-401 after hypomethylating agent (HMA) administration and received a $2 million grant from the NIH Small Business Innovation Research (SBIR) program in support of the clinical study.
MT-601 (Lymphoma)
· Complete response in the first patient with lymphoma treated with MT-601 in the Phase 1 multicenter APOLLO trial (clinicaltrials.gov identifier: NCT05798897) following participant’s failure to respond to four prior lines of therapy including anti-CD19 CAR T cell therapy. The study participant was treated with 2 doses of MT-601 at a 200 million cell dose level without prior lymphodepletion and showed no clinically significant treatment-related adverse events. At the first assessment, eight weeks after the second infusion of MT-601, the participant demonstrated a complete metabolic response based on PET-CT scans. MT-601 treatment was well tolerated with no treatment-related adverse events.
· This clinical observation is supported by in vitro data demonstrating the anti-tumor activity of MT-601 in anti-CD19 CAR T resistant lymphoma cells, highlighting the therapeutic potential of MT-601.
· Marker is treating and evaluating additional patients in the Phase 1 APOLLO trial and anticipates reporting additional data in the first half of 2024.
MT-601 (Pancreatic)
· Investigational New Drug (IND) application cleared by U.S. FDA for multicenter Phase 1 trial of MT-601 in patients with metastatic pancreatic cancer in combination with first-line chemotherapy.
· Clinical advancement will be pending additional financial support from non-dilutive grant activities.
Third Quarter 2023 Financial Highlights:
· Cash Position: Cash and cash equivalents of $17.5 million at September 30, 2023.
· R&D Expenses: Research and development expenses were $2.0 million for the quarter ended September 30, 2023, compared to $3.6 million for the quarter ended September 30, 2022. The decrease in R&D expenses was primarily attributable to lower expenses from the sale of Marker’s cell processing facility to Cell Ready, which was completed in June 2023.
· G&A Expenses: General and administrative expenses were $1.4 million for the quarter ended September 30, 2023, compared to $3.2 million for the quarter ended September 30, 2022. The decrease in G&A expenses was also primarily attributable to the sale of Marker’s cell processing facility to Cell Ready.
· Net Loss: Marker reported a net loss of ($3.0) million for the quarter ended September 30, 2023, compared to a net loss of ($6.9) million, inclusive of the $(1.2) million loss from discontinued operations, reflected in the quarter ended September 30, 2022.