MiNK Therapeutics(INKT) - 2025 Q2 - Quarterly Results

Introduction and Q2 2025 Overview Q2 2025 Business Update MiNK Therapeutics reported Q2 2025 results, highlighting clinical achievements, a strengthened balance sheet, and extended cash runway - MiNK Therapeutics reported Q2 2025 financial results and a business update, emphasizing major clinical achievements, a strengthened balance sheet, and expanded funding for oncology and immunology programs[1] - CEO Jennifer Buell highlighted the platform's power with high-impact clinical results, publication of key clinical findings, and competitive, non-dilutive federal funding, extending the cash runway beyond mid-2026[2] Q2 2025 Highlights Clinical and Strategic Milestones MiNK Therapeutics achieved durable complete remission in testicular cancer and secured non-dilutive grants for GvHD programs - Achieved durable complete remission in metastatic testicular cancer with a single infusion of agenT-797 in combination with checkpoint blockade, with the patient remaining disease-free for over two years[7] - Awarded a competitive Department of Defense STTR Grant to advance iNKTs for graft-versus-host disease (GvHD) prevention and treatment, with the program launched[6][7] - Received an additional clinical competitive grant to initiate a first-in-human clinical trial of iNKTs in GvHD, targeting initiation in 2H2025[6][7] - Anticipates additional clinical readouts in 2025 for the Phase 2 trial of agenT-797 in second-line gastric cancer[6][7] - MiNK's iNKT cell therapy platform was featured in a Frontiers in Immunology review, highlighting its ability to remodel the tumor microenvironment and overcome therapeutic resistance[7] Financial Highlights The company strengthened its balance sheet, extended cash runway beyond mid-2026, and reported an increased net loss - Strengthened balance sheet with increased cash reserves, extending the cash runway beyond mid-2026 to advance clinical programs[6][7] | Metric | Q2 2025 | Q2 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | Net Loss | $4.2 million | $2.7 million | +$1.5 million | | Net Loss per Share | $1.06 | $0.73 | +$0.33 | | H1 2025 Net Loss | $7.0 million | $6.5 million | +$0.5 million | | H1 2025 Net Loss per Share | $1.76 | $1.82 | -$0.06 | - Ended Q2 2025 with approximately $1.6 million in cash and cash equivalents, and subsequently raised $13 million through equity sales, providing an expected runway into mid-2026[7] Condensed Consolidated Financial Information Condensed Consolidated Balance Sheet Data As of June 30, 2025, MiNK Therapeutics reported $1.682 million in cash, with $13.012 million raised post-quarter | Metric | June 30, 2025 (in thousands) | | :--- | :--- | | Cash and cash equivalents | $1,682 | | Cash raised since quarter end | $13,012 | Other Financial Information Q2 2025 showed decreased cash used in operations, increased non-cash expenses, and a higher net loss year-over-year | Metric (in thousands) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Cash used in operations | $1,569 | $2,291 | $2,910 | $4,833 | | Non-cash expenses | $1,501 | $491 | $2,336 | $1,141 | | Net loss | $4,237 | $2,702 | $7,004 | $6,515 | | Net loss per share | $1.06 | $0.73 | $1.76 | $1.82 | Additional Information Conference Call and Webcast Information MiNK Therapeutics hosted a conference call and webcast on August 14, 2025, with access details provided for live and replay - A conference call and webcast were held on August 14, 2025, at 8:30 a.m. ET[12] - Access to the live call was available via specific dial-in numbers and a conference ID, with a replay accessible on MiNK's investor website[12] About MiNK Therapeutics MiNK Therapeutics is a clinical-stage biopharmaceutical company developing allogeneic iNKT cell therapies for cancer and immune diseases - MiNK Therapeutics is a clinical-stage biopharmaceutical company pioneering allogeneic, off-the-shelf invariant natural killer T (iNKT) cell therapies to treat cancer and other immune-mediated diseases[13] - The company is advancing a pipeline of both native and next-generation engineered iNKT programs, with a platform designed to facilitate scalable and reproducible manufacturing for off-the-shelf delivery[13] Forward Looking Statements This press release contains forward-looking statements subject to risks, with investors cautioned against undue reliance - This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially[14] - MiNK cautions investors not to place considerable reliance on the forward-looking statements, which speak only as of the date of this press release, and undertakes no obligation to update or revise them, other than to the extent required by law[14] Contact Information Contact details for investor relations and media inquiries were provided - Investor Contact: 917-362-1370 | investor@minktherapeutics.com[15] - Media Contact: 781-674-4422 | communications@minktherapeutics.com[15]