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Roth maintains Buy rating on Marker Therapeutics after positive cancer study

Analyst Tony Butler also set a $10 price target on the biotech stock, which currently trades at around $5.75 a share

cancer cells
The T-Cell therapy, in combination with chemotherapy, showed some promise in shrinking or stabilizing tumors

Roth Capital Markets on Tuesday maintained a Buy rating on Marker Therapeutics Inc (NASDAQ:MRKR) stock, noting that the company's multi-antigen targeted T-cell therapy in solid cancer tumors “just might work.”

Analyst Tony Butler also set a $10 price target on the stock, which currently trades at around $5.75 a share.

Marker Therapeutics on July 20 released some positive results from a Phase I trial of its MultiTAA T-cell therapy in patients with pancreatic cancer conducted at the Baylor College of Medicine. The company discussed the data during a conference call with investors Tuesday.

The company said the T-Cell therapy, in combination with chemotherapy, showed some promise in shrinking or stabilizing tumors.

READ: Marker Therapeutics rockets after CEO says Phase 2 leukemia trial with T-cell therapy in works

Under Marker Therapeutics’ therapy, a population of T-cells attacks multiple cancer targets and works to activate a patient's immune system to trigger anti-tumor activity.

“Based on the encouraging data, we believe this could provide an upside to our current price target,” Butler wrote.

Looking ahead, Butler also said there’s a 70% chance the company’s therapy will win government approval followed by commercialization during 2024.

“After the launch we assume relatively rapid uptake with competitive peak penetrations the US (30%), Europe (20%), and China (10%),” he added.

ROTH makes a market in shares of Marker Therapeutics, which is based in Houston, Texas.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Marker Therapeutics Inc

Price: 3.18 USD

NASDAQ:MRKR
Market: NASDAQ
Market Cap: $145.4 m
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