Marker Therapeutics slumps on stock offering

Marker Therapeutics

12/03/2021 11:02

** Marker Therapeutics Inc  MRKR.O  shares down ~25% and
among biggest losers premarket as co looks to raise equity
    ** MRKR after the bell Thurs announced proposed stock
offering to fund Phase 2 trial of lead drug candidate, MT-401,
for treatment of leukemia and its other cancer therapies (See
filing https://www.sec.gov/Archives/edgar/data/1094038/000110465921035002/tm219248d1_424b5.htm#USEOFPROCEEDS)
    ** Sources say bookrunner Piper Sandler marketing ~$50 mln
deal at $1.75, ~31% discount to stock's last sale
    ** Co has 50.7 mln shares outstanding and free float of 36.3
mln shares, per Refinitiv data
    ** In early Jan, U.S. FDA lifted partial clinical hold on
MT-401 that regulator had placed in Feb 2020  urn:newsml:reuters.com:*:nL4N2JG2DW
    ** MRKR shares have risen ~74% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))