/
We are a clinical-stage immuno-oncology company specializing in the development of novel T cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications. Harnessing millions of years of immunologic evolution, Marker s Multi Antigen Recognizing ( MAR )-T cell technology is designed to recognize and kill highly heterogeneous tumors without the need for gen…
The business is unprofitable at the operating level (-363.45% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 46.2% YoY. Margins deteriorated 194.8pp alongside, both lines moving the wrong way.
ROIC dropped from -53.87% to -57.61%, capital efficiency is deteriorating. Negative free cash flow of -$12M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$4M
▼ -46.2% YoY
Net Income (TTM)
-$11M
▼ -13.3% YoY
Op. Margin
-303.99%
▼ -194.8pp YoY
ROIC
-63.79%
▼ -3.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$8M
▼ -10.1% YoY
Op. Cash Flow (TTM)
-$8M
▼ -10.1% YoY
Net Debt
-$15M
Net Cash Position
Cash & Equiv.
$15M
5Y CAGR: +48.0%
Continue Research