Marker Therapeutics (Nasdaq: MRKR) has entered into a $25 million common stock purchase agreement with Chicago-based institutional investor Lincoln Park Capital Fund.

The company said it plans to use the proceeds of the agreement to advance its Phase 2 trial of Artemis MT-401, a leading drug candidate for the treatment of acute myeloid leukemia after transplantation, as well as clinical programs in lymphoma and pancreatic cancer, working capital and general corporate purposes.

Lincoln Park Capital will acquire the stock over a 24-month period. Marker will retain complete control over the timing and quantity of any stock sales. There is no upper limit on the price per share that Lincoln Park Capital may pay for future share issues, and the investor has agreed not to make any direct or indirect short sales or hedging of the shares, pursuant to the terms of the agreement.