Zelenoleucel

Preliminary safety and efficacy with sustained objective responses observed in patients with lymphoma treated with MT-601 in Phase 1 APOLLO study MT-601 was well tolerated with no observation of cytokine release syndrome (CRS) or immune effector cell associated neurotoxicity syndrome (ICANS) Marker Therapeutics to receive $2 million funding from NIH Small Business Innovation Research (SBIR) program to support clinical investigation of MT-601 in patients with lymphoma HOUSTON, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Marker Therapeutics, Inc. (Nasdaq: MRKR), a clinical-stage immuno-oncology company focusing on developing next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumors, today reported corporate updates and financial results for the second quarter ended June 30, 2024. “The second quarter of 2024 was characterized by ongoing momentum in our clinical programs,” said Juan Vera, M.D., President and Chief Executive Officer of Marker Therapeutics. “Following the positive outcomes reported in the first quarter, we continued to advance our Phase 1 APOLLO study investigating MT-601 in patients with lymphoma who have relapsed after anti-CD19 CAR-T cell therapy or where CAR-T therapy is not an option. In April, Geoffrey Shouse, D.O., Ph.D., the Principal Investigator at City of Hope National Medical Center, presented encouraging data from the APOLLO study, at the 11th Global Summit on Hematologic Malignancies. The data showed that three out of three participants had objective responses, and that treatment was well tolerated among all patients with no significant treatment-related adverse events, further signifying the potential benefit of MT-601 in patients with lymphoma. We are gratified by these preliminary results and expect to provide a more comprehensive clinical update on the APOLLO study in the upcoming quarter.” “Additionally, after the close of the quarter, we announced that Marker has been awarded a $2 million Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH) to support our Phase 1 APOLLO study evaluating the safety and efficacy of MT-601 in patients with non-Hodgkin’s lymphoma (NHL) who have relapsed following anti-CD19 CAR-T cell therapy. We were pleased to receive this highly competitive grant, which reinforces the potential scientific merit and the capacity of the APOLLO study to address an unmet medical need,” added Dr. Vera. PROGRAM UPDATES & EXPECTED MILESTONES MT-601 (Lymphoma) Marker’s lead program is investigating MT-601 in the nationwide multicenter Phase 1 APOLLO study (clinicaltrials.gov identifier: NCT05798897) in patients with lymphoma who relapsed after anti-CD19 CAR-T cell therapy or where CAR-T cells are not an option.The Company previously reported preliminary safety and efficacy with sustained objective responses observed in three study participants treated at City of Hope National Medical Center (Press Release, April 8, 2024). Treatment was well tolerated among all study participants with no observation of cytokine release syndrome (CRS) or immune effector cell associated neurotoxicity syndrome (ICANS).All study participants continue to be observed for long-term treatment effects and durability of response. The Company is enrolling additional study participants in the Phase 1 APOLLO trial and expect to provide an update on safety and durability during the third quarter.The Company was awarded a $2 million grant from NIH Small Business Innovation Research Program (SBIR) to support the clinical investigation of MT-601 in patients with lymphoma who have relapsed following anti-CD CAR-T cell therapy (Press Release, August 12, 2024). MT-601 (Pancreatic) Investigational New Drug (IND) application cleared by U.S. Food and Drug Administration (FDA) for multicenter Phase 1 trial to investigate MT-601 in combination with front-line chemotherapy in patients with metastatic pancreatic cancer.Clinical advancement will be pending additional financial support from non-dilutive funding activities. MT-401-OTS (Acute Myeloid Leukemia or Myelodysplastic Syndrome) U.S. FDA has granted an IND to investigate MT-401 as an “Off-the-Shelf” (MT-401-OTS) product in patients with Acute Myeloid Leukemia (AML) or Myelodysplastic Syndrome (MDS).MT-401-OTS is manufactured from healthy donors, and Marker has established a cellular inventory for MT-401-OTS with ongoing efforts to further expansion.Marker has non-clinical proof-of-concept data supporting the potential clinical benefits of MT-401-OTS in patients with AML or MDS (Press Release, August 7, 2023).The Company secured non-dilutive funding to support the clinical investigation of MT-401-OTS and anticipates the clinical program initiation of MT-401-OTS during the fourth quarter of 2024. SECOND QUARTER 2024 FINANCIAL HIGHLIGHTS Cash Position and Guidance: At June 30, 2024, Marker had cash and cash equivalents of $7.8 million. The Company believes that its existing cash and cash equivalents will fund its operating expenses into the fourth quarter of 2025, inclusive of available drawdowns from grant funds. R&D Expenses: Research and development expenses were $2.3 million for the quarter ended June 30, 2024, compared to $2.4 million for the quarter ended June 30, 2023. G&A Expenses: General and administrative expenses were $1.1 million for the quarter ended June 30, 2024, compared to $2.5 million for the quarter ended June 30, 2023. Net Loss: Marker reported a net loss from continuing operations of $2.2 million for the quarter ended June 30, 2024, compared to $4.1 million for the quarter ended June 30, 2023. “The financial performance in the past quarter demonstrates the benefits that we are seeing from our restructuring efforts that we initiated in the second quarter of 2023, including our agreement with Cell Ready, and the favorable impact that they are having on our business, especially our Operating Expenses. Unlike most small, pre-revenue companies in the Cell Therapy space, our extremely efficient structure, combined with our successful grant funding initiatives, are allowing us to maximize our cash runway and to focus the majority of our available funds on our clinical programs,” concluded Dr. Vera. About multiTAA-specific T cells The multi-tumor associated antigen (multiTAA)-specific T cell platform is a novel, non-genetically modified cell therapy approach that selectively expands tumor-specific T cells from a patient's/donor’s blood capable of recognizing a broad range of tumor antigens. Unlike other T cell therapies, multiTAA-specific T cells allow the recognition of hundreds of different epitopes within up to six tumor-specific antigens, thereby reducing the possibility of tumor escape. Since multiTAA-specific T cells are not genetically engineered, Marker believes that its product candidates will be easier and less expensive to manufacture, with an improved safety profile, compared to current engineered T cell approaches, and may provide patients with meaningful clinical benefits. About Marker Therapeutics, Inc. Marker Therapeutics, Inc. is a Houston, TX-based clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumors. Clinical trials that enrolled more than 200 patients across various hematological and solid tumor indications showed that the Company’s autologous and allogeneic multiTAA-specific T cell products were well tolerated and demonstrated durable clinical responses. Marker’s goal is to introduce novel T cell therapies to the market and improve patient outcomes. To achieve these objectives, the Company prioritizes the preservation of financial resources and focuses on operational excellence. Marker’s unique T cell platform is strengthened by non-dilutive funding from U.S. state and federal agencies supporting cancer research. To receive future press releases via email, please visit: https://www.markertherapeutics.com/email-alerts. Forward-Looking Statements This release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company’s expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements.” Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: our research, development and regulatory activities and expectations relating to our non-engineered multi-tumor antigen specific T cell therapies; the effectiveness of these programs or the possible range of application and potential curative effects and safety in the treatment of diseases; and the timing, conduct and success of our clinical trials of our product candidates, including MT-601 for the treatment of patients with lymphoma. Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company’s most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at WWW.SEC.GOV. The Company assumes no obligation to update its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release except as may be required by law. Marker Therapeutics, Inc.Condensed Consolidated Balance Sheets(Unaudited) June 30,2024 December 31,2023 ASSETS Current assets: Cash and cash equivalents$7,800,464 $15,111,450 Prepaid expenses and deposits 1,384,394 988,126 Other receivables 2,490,147 1,027,815 Total current assets 11,675,005 17,127,391 Total assets$ 11,675,005 $ 17,127,391 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities$1,679,672 $1,745,193 Related party payable 292,569 1,329,655 Total current liabilities 1,972,241 3,074,848 Total liabilities 1,972,241 3,074,848 Stockholders' equity: Preferred stock, $0.001 par value, 5 million shares authorized, 0 shares issued andoutstanding at June 30, 2024 and December 31, 2023, respectively - - Common stock, $0.001 par value, 30 million shares authorized, 8.9 million sharesissued and outstanding as of June 30, 2024 and December 31, 2023, respectively(see Note 8) 8,922 8,891 Additional paid-in capital 450,565,204 450,329,515 Accumulated deficit (440,871,362) (436,285,863) Total stockholders' equity 9,702,764 14,052,543 Total liabilities and stockholders' equity$ 11,675,005 $ 17,127,391 Marker Therapeutics, Inc.Condensed Consolidated Statements of Operations(Unaudited) For the Three Months EndedJune 30, For the Six Months EndedJune 30, 2024 2023 2024 2023 Revenues: Grant income$1,169,236 $762,658 $2,413,297 $1,996,995 Total revenues 1,169,236 762,658 2,413,297 1,996,995 Operating expenses: Research and development 2,335,430 2,377,993 4,910,446 5,754,492 General and administrative 1,141,871 2,518,725 2,359,934 4,686,044 Total operating expenses 3,477,301 4,896,718 7,270,380 10,440,536 Loss from operations (2,308,065) (4,134,060) (4,857,083) (8,443,541) Other income (expenses): Interest income 115,388 35,080 271,584 119,734 Loss from continuing operations (2,192,677) (4,098,980) (4,585,499) (8,323,807) Discontinued operations: Loss from discontinued operations, net of tax - (2,179,657) - (2,922,406) Gain on disposal of discontinued operations - 8,794,426 - 8,794,426 Income from discontinued operations - 6,614,769 - 5,872,020 Net income/(loss)$ (2,192,677) $ 2,515,789 $ (4,585,499) $ (2,451,787) Net loss per share: Loss from continuing operations, basic and diluted$(0.25) $(0.47) $(0.51) $(0.95) Income from discontinued operations, basic and diluted$- $0.75 $- $0.67 Net income/(loss) per share, basic and diluted$(0.25) $0.29 $(0.51) $(0.28) Weighted average number of common shares outstanding: Basic 8,918,233 8,798,956 8,910,097 8,760,209 Diluted 8,918,233 8,798,956 8,910,097 8,760,209 Marker Therapeutics, Inc.Condensed Consolidated Statements of Cash Flows(Unaudited) For the Six Months EndedJune 30, 2024 2023 Cash Flows from Operating Activities: Net loss$(4,585,499) $(2,451,787) Less: income from discontinued operations, net of tax - 5,872,020 Net loss from continuing operations (4,585,499) (8,323,807) Reconciliation of net loss to net cash used in operating activities: Stock-based compensation 142,018 539,858 Changes in operating assets and liabilities: Prepaid expenses and deposits (396,268) (238,223) Other receivables (1,462,332) 655,904 Related party payable (1,037,086) - Accounts payable and accrued expenses (65,521) 197,030 Net cash used in operating activities - continuing operations (7,404,688) (7,169,238) Net cash used in operating activities - discontinued operations - (5,775,680) Net cash used in operating activities (7,404,688) (12,944,918) Cash Flows from Investing Activities: Net cash provided by (used in) investing activities - discontinued operations - 18,664,122 Net cash provided by (used in) investing activities - 18,664,122 Cash Flows from Financing Activities: Proceeds from issuance of common stock, net 36,902 619,974 Proceeds from stock options exercise 56,800 736 Net cash provided by financing activities 93,702 620,710 Net (decrease)/increase in cash and cash equivalents (7,310,986) 6,339,914 Cash and cash equivalents at beginning of the period 15,111,450 11,782,172 Cash and cash equivalents at end of the period$7,800,464 $18,122,086 ContactsInvestorsTIBEREND STRATEGIC ADVISORS, INC.Jonathan Nugent205-566-3026jnugent@tiberend.com

Preliminary safety and efficacy with sustained objective responses observed in patients with lymphoma treated with MT-601 in Phase 1 APOLLO study Study participant with Non-Hodgkin’s Lymphoma who relapsed within 90 days of anti-CD19 CAR T cell therapy remains in complete response nine months after MT-601 treatment Company received approval from United States Adopted Name (USAN) council and International Nonproprietary Names (INN) expert committee for “neldaleucel” as nonproprietary name for MT-601 HOUSTON, May 15, 2024 (GLOBE NEWSWIRE) -- Marker Therapeutics, Inc. (Nasdaq: MRKR), a clinical-stage immuno-oncology company focusing on developing next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumors, today reported corporate updates and financial results for the first quarter ended March 31, 2024. “We are pleased to report a strong start to the first quarter of 2024, marked by continued advances in our clinical programs,” said Juan Vera, M.D., President and Chief Executive Officer of Marker Therapeutics. “Building on our positive results, we continue to observe objective responses in our Phase 1 APOLLO study investigating MT-601 in patients with lymphoma who have relapsed or are ineligible for CAR T therapy. We recently announced that our first patient treated in this study achieved a complete response, which was maintained nine months after initial treatment with MT-601. This patient relapsed within 90 days of CAR T therapy, indicating that MT-601 has superior durability in this study participant. In April, our Principal Investigator at City of Hope National Medical Center was invited to share his findings from the APOLLO trial at a medical conference, where he presented data from two additional study participants and that three out of three subjects treated at City of Hope demonstrated objective responses. While we plan to provide a more comprehensive clinical update on the APOLLO study in the second half of this year, we are encouraged by these preliminary results, which underscore the potential benefit of MT-601 in patients with lymphoma.” “Another significant milestone this quarter was to receive approval from the United States Adopted Name (USAN) council and International Nonproprietary Names (INN) expert committee for “neldaleucel” as nonproprietary drug name for MT-601. Having made these steady advances, we are confident that we are well positioned to achieve our near- and long-term goals related to MT-601 in patients with lymphoma,” concluded Dr. Vera. PROGRAM UPDATES & EXPECTED MILESTONES MT-601 (Lymphoma) Phase 1 multicenter APOLLO trial (clinicaltrials.gov identifier: NCT05798897), investigating MT-601 in patients with lymphoma who relapsed or are ineligible for anti-CD19 CAR T cell therapies, was selected as lead program based on promising preliminary clinical results and non-clinical proof-of-concept data (Press Release, January 8, 2024). Three patients were treated at City of Hope National Medical Center as part of the APOLLO study: First study participant treated with MT-601 had diffuse large B cell lymphoma (DLBCL) and failed four prior lines of therapy, including a relapse within 90 days of anti-CD19 CAR T cell therapy (Breyanzi) (Press Release, June 12, 2023). Without prior lymphodepletion, this participant achieved a complete response eight weeks after the second infusion of MT-601 and remains in complete response nine months after initial treatment with MT-601 (Press Release, April 8, 2024). Another study participant had transformed follicular Non-Hodgkin’s Lymphoma (NHL) and failed 12 lines of therapy, including bispecific T cell engager therapy (mosunetuzumab) for follicular NHL, and anti-CD19 CAR T cells (Yescarta) after transformation into DLBCL. At the time of MT-601 infusion, only follicular NHL persisted in this patient. Eight weeks after initial infusion with MT-601 without prior lymphodepletion, the study participant achieved a complete response, which remains three months following treatment with MT-601(Press Release, April 8, 2024). The third study participant treated had DLBCL with cutaneous involvement and was not eligible for CAR T cell therapy. This participant achieved a partial response eight weeks after MT-601 treatment without prior lymphodepletion with all lesions decreasing in size including one that has completely resolved (Press Release, April 8, 2024). Treatment was well tolerated among all patients with no significant treatment-related adverse events including cytokine release syndrome or neurotoxicity. All patients continue to be observed for durability of response. The Company is enrolling additional patients in the Phase 1 APOLLO trial and expects to report further data in the second half of 2024. MT-601 designated non-proprietary name “neldaleucel” by United States Adopted Name (USAN) Counsel and International Nonproprietary Names (INN) Expert Committee. MT-601 (Pancreatic) Investigational New Drug (IND) application cleared by U.S. Food and Drug Administration (FDA) for multicenter Phase 1 trial of MT-601 in patients with metastatic pancreatic cancer in combination with front-line chemotherapy. Clinical advancement will be pending additional financial support from non-dilutive grant activities. MT-401-OTS (Acute Myeloid Leukemia or Myelodysplastic Syndrome) To streamline resources and to reduce time to treatment, Marker decided to discontinue the patient-specific part of the Acute Myeloid Leukemia (AML) program and to focus on a ready for use “Off-the-Shelf” product (Press Release, January 8, 2024). U.S. FDA has granted an Investigational New Drug (IND) to investigate MT-401 as an “Off-the-Shelf” (MT-401-OTS) product in patients with Acute Myeloid Leukemia (AML) or Myelodysplastic Syndrome (MDS). MT-401-OTS is manufactured from healthy donors, and Marker has established a cellular inventory with ongoing efforts of expanding it further. Granted Orphan Drug Designation from the European Medicines Agency (EMA) and U.S. FDA. Marker has non-clinical proof-of-concept data supporting the clinical benefits of MT-401-OTS in AML and secured $2M in non-dilutive funding from the NIH Small Business Innovation Research (SBIR) program to support the clinical investigation of MT-401-OTS in patients with AML. Clinical program initiation of MT-401-OTS anticipated for the second half of 2024. FIRST QUARTER 2024 FINANCIAL HIGHLIGHTS Cash Position and Guidance: At March 31, 2024, Marker had cash and cash equivalents of $11.3 million. The Company believes that its existing cash and cash equivalents will fund its operating expenses into the fourth quarter of 2025, inclusive of available drawdowns from grant funds. R&D Expenses: Research and development expenses were $2.6 million for the quarter ended March 31, 2024, compared to $3.4 million for the quarter ended March 31, 2023. G&A Expenses: General and administrative expenses were $1.2 million for the quarter ended March 31, 2024, compared to $2.2 million for the quarter ended March 31, 2023. Net Loss: Marker reported a net loss of $2.4 million for the quarter ended March 31, 2024, compared to a net loss of $4.9 million for the quarter ended March 31, 2023. About multiTAA-specific T cells The multi-tumor associated antigen (multiTAA)-specific T cell platform is a novel, non-genetically modified cell therapy approach that selectively expands tumor-specific T cells from a patient's/donor’s blood capable of recognizing a broad range of tumor antigens. Since multiTAA-specific T cells are not genetically engineered, Marker believes that its product candidates will be easier and less expensive to manufacture, with reduced toxicities, compared to current engineered CAR-T and TCR-based approaches, and may provide patients with meaningful clinical benefits. As a result, Marker believes that its portfolio of T cell therapies has a compelling product profile, as compared to current gene-modified CAR-T and TCR-based therapies. About Marker Therapeutics, Inc. Marker Therapeutics, Inc. is a Houston, TX-based clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumors. Clinical trials that enrolled more than 200 patients across various hematological and solid tumor indications showed that the Company’s autologous and allogeneic multiTAA-specific T cell products were well tolerated and demonstrated durable clinical responses. Marker’s goal is to introduce novel T cell therapies to the market and improve patient outcomes. To achieve these objectives, the Company prioritizes the preservation of financial resources and focuses on operational excellence. Marker’s unique T cell platform is strengthened by non-dilutive funding from U.S. state and federal agencies supporting cancer research. To receive future press releases via email, please visit: . Forward-Looking Statements This release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company’s expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements.” Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: our research, development and regulatory activities and expectations relating to our non-engineered multi-tumor antigen specific T cell therapies; the effectiveness of these programs or the possible range of application and potential curative effects and safety in the treatment of diseases; and the timing, conduct and success of our clinical trials of our product candidates, including MT-601 and MT-401-OTS. Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company’s most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at WWW.SEC.GOV. The Company assumes no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release. Marker Therapeutics, Inc. Condensed Consolidated Balance Sheets (Unaudited) March 31, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 11,323,428 $ 15,111,450 Prepaid expenses and deposits 917,009 988,126 Other receivables 1,851,462 1,027,815 Total current assets 14,091,899 17,127,391 Total assets $ 14,091,899 $ 17,127,391 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 1,949,700 $ 1,745,193 Related party payable 353,965 1,329,655 Total current liabilities 2,303,665 3,074,848 Total liabilities 2,303,665 3,074,848 Stockholders' equity: Preferred stock, $0.001 par value, 5 million shares authorized, 0 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively — — Common stock, $0.001 par value, 30 million shares authorized, 8.9 million issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 8,910 8,891 Additional paid-in capital 450,458,009 450,329,515 Accumulated deficit (438,678,685 ) (436,285,863 ) Total stockholders' equity 11,788,234 14,052,543 Total liabilities and stockholders' equity $ 14,091,899 $ 17,127,391 Marker Therapeutics, Inc. Condensed Consolidated Statements of Operations (Unaudited) For the Three Months Ended March 31, 2024 2023 Revenues: Grant income $ 1,244,061 $ 1,234,336 Total revenues 1,244,061 1,234,336 Operating expenses: Research and development 2,575,015 3,376,497 General and administrative 1,218,063 2,167,318 Total operating expenses 3,793,078 5,543,815 Loss from operations (2,549,017 ) (4,309,479 ) Other income (expenses): Interest income 156,195 84,654 Loss from continuing operations (2,392,822 ) (4,224,825 ) Discontinued operations: Loss from discontinued operations, net of tax — (742,751 ) Income (loss) from discontinued operations — (742,751 ) Net loss $ (2,392,822 ) $ (4,967,576 ) Net earnings (loss) per share: Loss from continuing operations, basic and diluted $ (0.27 ) $ (0.48 ) Income (loss) from discontinued operations, basic and diluted $ — $ (0.09 ) Net loss per share, basic and diluted $ (0.27 ) $ (0.57 ) Weighted average number of common shares outstanding: Basic 8,901,962 8,721,031 Diluted 8,901,962 8,721,031 Marker Therapeutics, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) For the Three Months Ended March 31, 2024 2023 Cash Flows from Operating Activities: Net loss $ (2,392,822 ) $ (4,967,576 ) Less: loss from discontinued operations, net of tax - (742,751 ) Net loss from continuing operations (2,392,822 ) (4,224,825 ) Reconciliation of net loss to net cash used in operating activities: Stock-based compensation 79,417 659,913 Changes in operating assets and liabilities: — — Prepaid expenses and deposits 71,117 36,452 Other receivables (823,647 ) 1,319,118 Related party receivable — (1,000,000 ) Related party payable (975,690 ) Accounts payable and accrued expenses 204,507 111,171 Net cash used in operating activities - continuing operations (3,837,118 ) (3,098,171 ) Net cash used in operating activities - discontinued operations — (2,790,124 ) Net cash used in operating activities (3,837,118 ) (5,888,295 ) Cash Flows from Investing Activities: Net cash provided by (used in) investing activities - discontinued operations — (112,608 ) Net cash provided by (used in) investing activities — (112,608 ) Cash Flows from Financing Activities: Proceeds from issuance of common stock, net — 619,974 Proceeds from stock options exercise 49,096 — Net cash provided by financing activities 49,096 619,974 Net increase (decrease) in cash and cash equivalents (3,788,022 ) (5,380,929 ) Cash and cash equivalents at beginning of the period 15,111,450 11,782,172 Cash and cash equivalents at end of the period $ 11,323,428 $ 6,401,243 Contacts TIBEREND STRATEGIC ADVISORS, INC. Investors Daniel Kontoh-Boateng (862) 213-1398 DBOATENG@TIBEREND.COM