8-K
filed May 1, 2023, 7:59 PM ET
ticker MRKR
CIK 0001094038
M&A
confidence high
sentiment positive
materiality 0.75
Marker Therapeutics sells manufacturing assets for $19M, appoints Juan Vera as CEO, extends runway to end of 2025
Marker Therapeutics, Inc.
- CellReady to purchase Marker's manufacturing assets for ~$19M in cash; annual overhead reduced by ~$11M; closing targeted June 26, 2023.
- CEO Peter Hoang resigns effective May 1; board appoints Juan Vera (formerly COO/CSO) as President and CEO.
- Non-dilutive deal extends Marker's financial runway through year-end 2025; net benefit estimated at ~$42M.
- Clinical priorities: MT-601 in NHL trial, MT-401 in post-transplant AML; data expected H2 2024.
- Board member David Laskow-Pooley will not stand for reelection at 2023 annual meeting, term expires then.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Juan Vera was appointed as President and Chief Executive Officer at Marker Therapeutics, Inc..
- Action
- appointed
- Role
- President and Chief Executive Officer
Exact text from the filing
On April 27, 2023, the Board appointed Juan Vera as the Company’s President and Chief Executive Officer, effective as of the effective time of Mr. Hoang’s resignation.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Peter Hoang resigned as President and Chief Executive Officer at Marker Therapeutics, Inc..
- Action
- resigned
- Role
- President and Chief Executive Officer
Exact text from the filing
On April 27, 2023, Peter Hoang, the Company’s President and Chief Executive Officer, resigned from his operating role, effective May 1, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Laskow-Pooley departed as Director at Marker Therapeutics, Inc..
- Action
- not stand for reelection
- Role
- Director
Exact text from the filing
On April 27, 2023, Mr. David Laskow-Pooley, a member of the Board, notified the Board that he will not stand for reelection as a director of the Company upon expiration of his current term.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Peter Hoang resigned as Director at Marker Therapeutics, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Mr. Hoang also resigned as a member of the Company’s Board of Directors (the “ Board ”), effective immediately.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Marker Therapeutics, Inc. entered into Purchase Agreement with Cell Ready, LLC valued at approximately $19.0 million (effective 2023-05-01).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Cell Ready, LLC
- Value
- approximately $19.0 million
- Effective
- 2023-05-01
Exact text from the filing
On May 1, 2023, Marker Therapeutics, Inc. (the “ Company ”) entered into a purchase agreement (the “ Agreement ) with Cell Ready, LLC (“ Cell Ready ”), pursuant to which the Company will (i) assign to Cell Ready the leases for the Company's two manufacturing facilities in Houston, Texas (the “ Manufacturing Facilities ”), (ii) sell to Cell Ready all of the equipment and leasehold improvements at the Manufacturing Facilities and (iii) assign to Cell Ready its rights, title and interest in the Company's Master Services Agreement for Product Supply, dated April 7, 2023, by and between the Company, Cell Ready and Indapta Therapeutics, Inc., as well as its rights, title and interest in any contracts related to the equipment and Manufacturing Facilities (collectively, the “ Purchased Assets ”). Pursuant to the Agreement, Cell Ready will acquire the Purchased Assets for total consideration of approximately $19.0 million. In connection with the purchase of the Manufacturing Facilities, Cell Re
View on SEC.gov
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