Marker Therapeutics rises on asset sale deal

Marker Therapeutics

01/05/2023 13:23

** Drug developer Marker Therapeutics Inc's  MRKR.O  shares
rise ~26% to $1.67 premarket
    ** Company enters agreement with CellReady, a company
founded by MRKR's co-founder and board member John Wilson
    ** CellReady to buy some cell manufacturing assets from MRKR
for ~$19 million in cash
    ** Deal will reduce MRKR's overhead by ~$11 million annually
    ** MRKR & CellReady will also enter into long-term supply
agreement for manufacture and supply of Marker's clinical
product candidates
    ** Separately, MRKR said CEO Peter Hoang has resigned and
board has appointed Juan Vera as chief executive
    ** As of last close, Marker Therapeutics shares down 68.4%
so far this year

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))