MiNK Therapeutics(INKT) - 2024 Q4 - Annual Results

Financial Performance - MiNK Therapeutics reported a net loss of $10.8 million for the year ended December 31, 2024, or$2.86 per share, a significant improvement from a net loss of $22.5 million or$6.54 per share in 2023[8]. - Cash used in operations for the year was $9.6 million, down from$15.8 million in 2023, indicating improved operational efficiency[7]. - The company ended 2024 with a cash balance of $4.6 million, compared to$3.4 million at the end of 2023[10]. Fundraising and Financial Strategy - MiNK raised $5.8 million in private financing in 2024, focusing on externally funded clinical trials to advance its iNKT cell programs[6]. Clinical Trials and Research - AgenT-797 demonstrated an approximately 80% survival rate among VV ECMO patients in acute respiratory distress, compared to 10% in hospital controls[6]. - The Phase 2 trial for AgenT-797 in second-line advanced gastric cancer is actively enrolling, with promising early data from combination therapies[6]. - A research collaboration with Autonomous Therapeutics was established in October 2024 to develop precision RNA-iNKT therapies for metastatic tumors[6]. Manufacturing and Technology - MiNK's manufacturing process allows for the production of billions of donor-derived iNKT cells per run, enhancing scalability and patient access[6]. - The company is advancing next-generation iNKT treatments targeting challenging cancer types, supported by a rapid AI-driven drug discovery platform[2]. Strategic Vision - MiNK's operational strategy aims for value creation and collaboration opportunities, positioning the company for growth in 2025 and beyond[7].