MiNK Therapeutics Reports Fourth Quarter & Full Year 2024 Results and Highlights Business Progress

Core Viewpoint - MiNK Therapeutics, Inc. has made significant progress in developing allogeneic iNKT cell therapies, reporting advancements in clinical trials and financial performance for the year 2024 [1][2]. Operational Highlights - The company has advanced its mission to provide off-the-shelf iNKT cell therapies for patients with difficult-to-treat cancers and severe immune-related disorders [2]. - MiNK has strengthened its manufacturing capabilities and established strategic alliances to enhance its operational efficiency and collaboration opportunities [2]. - The company is utilizing an AI-driven drug discovery platform to create a library of phosphorylated neoantigens and proprietary TCRs, positioning itself to set new standards in oncology [2][4]. Clinical Advancements - AgenT-797 has shown enhanced immune activation and improved efficacy in combination with checkpoint inhibitors and bispecific engagers in heavily pretreated patients [7]. - Early data from a Phase 2 trial in advanced gastric cancer suggest promising activity when combining AgenT-797 with other treatments [7]. - AgenT-797 demonstrated an approximately 80% survival rate in acute respiratory distress patients compared to 10% in hospital controls [7]. - MiNK's PRAME-TCR iNKTs have shown high specificity and potent tumor-killing capabilities against resistant cancer targets [7]. - MiNK-215 has exhibited robust anti-tumor activity in metastatic colorectal cancer models [7]. Financial Highlights - MiNK ended 2024 with a cash balance of $4.6 million, with cash used in operations decreasing to $1.7 million for Q4 and $9.6 million for the full year [8][10]. - The net loss for 2024 was $10.8 million, or $2.86 per share, a significant reduction from a net loss of $22.5 million, or $6.54 per share, in 2023 [8][12]. - Operating expenses for research and development decreased to $6.3 million in 2024 from $15.5 million in 2023 [11]. Strategic Growth and Manufacturing Optimization - MiNK's manufacturing process allows for the production of billions of donor-derived iNKT cells per run, facilitating rapid global distribution and enhancing patient access [7]. - The company raised $5.8 million in private financing in 2024 and is focusing on externally funded clinical trials to advance its iNKT cell programs [7].