Marker Therapeutics, Inc. Q1 FY2020 earnings call

• Addressed the impact of COVID-19 pandemic, implementing work from home policy and monitoring situation for employee well-being. - Phase 2 trial in AML affected by delays from contract research organization and supply chain partners; withdrew guidance on AML trial timing. - AML is the lead indication based on BCM trials showing durable responses with minimal toxicities; FDA cleared first company-sponsored trial. - Baylor facilities closed due to COVID, affecting patient enrollment for AML trial; FDA granted orphan drug designation to MT-401. - MultiTAA-specific T cell therapy has advantages over standard approaches, demonstrated in pancreatic cancer trial with data to be presented at ASCO. - Continues to identify clinical trial sites and work on process development and IND-related experiments.

At the end of the first quarter, Marker Therapeutics had $40.3 million in cash and cash equivalents. The net loss for the quarter ended March 31st, 2020 was $6.5 million, compared to a net loss of $5.3 million for the same period in 2019. Research and development costs during Q1 2020 were $3.8 million, an increase of $1 million from Q1 2019 primarily due to headcount-related personnel expenses. General and administrative expenses were $2.8 million in both Q1 2020 and Q1 2019. There is no mention of revenue contribution by product segments in the transcript.

• Withdrew guidance on the timing of the AML trial until the outlook clarifies for clinical and supply chain partners due to unpredictability of COVID-19 pandemic's impact.

• Impact of COVID-19 pandemic on business operations, including trial timelines and supply chain. - Unpredictability of the full impact of COVID-19 on the business and healthcare system as a whole.

Q: Matt Biegler asked about sequencing of patients in the AML trial and details on the pancreatic cancer trial update.

A: Mythili Koneru explained patients with previous reagent and MT-401 can be enrolled simultaneously with a two-week span between first treatments; pancreatic cancer trial update to be presented at ASCO.

Q: Jackson Harvey inquired about Baylor trials affected by COVID-19 and pancreatic cancer trial data.

A: Mythili Koneru said Baylor studies proceeding, 1 patient in AML study treatment delayed; Peter Hoang discussed monitoring pancreatic cancer data for therapeutic benefit.

Q: Tony Butler asked about AML trial progression after safety lead-in.

A: Mythili Koneru stated no requirement to enroll all 3 with old reagent first, can proceed to Phase 2 if no dose limiting toxicities.

Q: Yun Zhong asked about pancreatic cancer data readout and enrolment.

A: Peter Hoang mentioned waiting for ASCO abstracts on patient counts.

Q: Jordyn Fantuzzi asked about Aspire Capital purchase agreement.

A: Tony Kim said shares issued but no immediate drawdown on capital yet, not included in current cash position.