Marker Therapeutics Terminates Material Definitive Agreement
Ticker: MRKR · Form: 8-K · Filed: Mar 1, 2024 · CIK: 1094038
| Field | Detail |
|---|---|
| Company | Marker Therapeutics, Inc. (MRKR) |
| Form Type | 8-K |
| Filed Date | Mar 1, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $25 million, $33,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: agreement-termination, material-agreement
TL;DR
Marker Therapeutics terminated a key deal, could be good or bad.
AI Summary
Marker Therapeutics, Inc. announced on February 29, 2024, the termination of a material definitive agreement. The company, formerly known as TAPIMMUNE INC., is based in Houston, Texas.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's operations, partnerships, and financial standing.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement introduces uncertainty regarding the company's strategic direction and potential financial implications.
Key Players & Entities
- Marker Therapeutics, Inc. (company) — Registrant
- TAPIMMUNE INC. (company) — Former company name
- February 29, 2024 (date) — Date of earliest event reported
- Houston, Texas (location) — Principal executive offices location
FAQ
What was the specific material definitive agreement that was terminated?
The filing does not specify the exact agreement that was terminated, only that a material definitive agreement was terminated on February 29, 2024.
What are the implications of this termination for Marker Therapeutics?
The filing does not detail the specific implications, but the termination of a material definitive agreement typically affects ongoing business relationships and future plans.
When was the termination effective?
The termination was effective as of February 29, 2024, which is also the date of the report.
Does the filing mention any financial impact resulting from this termination?
No, the filing does not provide specific details on the financial impact of the agreement's termination.
Are there any other parties involved in the terminated agreement?
The filing does not name the other party or parties to the terminated material definitive agreement.
Filing Stats: 840 words · 3 min read · ~3 pages · Grade level 13.2 · Accepted 2024-03-01 08:02:47
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share MRKR The Nasdaq Stock Mar
- $25 million — pany had the right to sell to LPC up to $25 million of shares of the Company's common stock
- $33,000 — nt generating proceeds of approximately $33,000. The Company has no further obligations
Filing Documents
- tm247674d1_8k.htm (8-K) — 26KB
- 0001104659-24-029638.txt ( ) — 194KB
- mrkr-20240229.xsd (EX-101.SCH) — 3KB
- mrkr-20240229_lab.xml (EX-101.LAB) — 33KB
- mrkr-20240229_pre.xml (EX-101.PRE) — 22KB
- tm247674d1_8k_htm.xml (XML) — 3KB
02. TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT
ITEM 1.02. TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT On February 29, 2024, Marker Therapeutics, Inc. (the "Company") delivered notice to Lincoln Park Capital Fund, LLC, an Illinois limited liability company ("LPC"), terminating the Purchase Agreement, dated December 12, 2022 (the "Purchase Agreement"), with LPC effective March 1, 2024 (the "Termination Date"). The Company projects a financial runway through the fourth quarter of 2025 and does not anticipate an immediate need for capital acquisition. The Purchase Agreement provided that, upon the terms and Company's common stock, par value $0.001 per share ("Common Stock"), over the 24-month term of the Purchase Agreement. The Purchase Agreement provided the Company could terminate the Purchase Agreement for any reason or for no reason with one business day notice to LPC, however, certain provisions in the Purchase Agreement survive termination, as more fully described in the Purchase Agreement. In consideration for entering into the Purchase Agreement, the Company issued to LPC 1,804,098 shares of the Company's Common Stock (the "Commitment Shares"). There are no early termination penalties attributable the Purchase Agreement. There were no material relationships between the Company, or any of the Company's affiliates, and LPC other than with respect to the Purchase Agreement and Registration Rights Agreement, described below. Concurrently with entering into the Purchase Agreement, the Company also entered into a registration rights agreement with LPC (the "Registration Rights Agreement"), pursuant to which the Company agreed to file a Form S-1 registration statement (the "Registration Statement"), as permissible and necessary under the Securities Act of 1933, as amended (the "Securities Act"), to register the sale of the shares of the Company's Common Stock that may be so
01. FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Marker Therapeutics, Inc. Dated: March 1, 2024 By: /s/ Juan Vera Juan Vera President and Chief Executive Officer