Financial Data and Key Metrics Changes - The company ended the quarter with a cash balance of $1.7 million and raised an additional $13 million through equity sales, extending the cash runway through mid-2026 [18] - The net loss for Q2 2025 was $4.2 million or $1.06 per share, compared to $2.7 million or $0.73 per share for Q2 2024 [18] - For the six months ended June 2025, the net loss was $7 million or $1.76 per share, compared to $6.5 million or $1.82 per share for the same period in 2024 [19] Business Line Data and Key Metrics Changes - The company achieved significant clinical milestones, including a complete clinical response in a patient with metastatic testicular cancer, highlighting the potential of the INKT platform [5][7] - The Q2 operating cash burn was reduced by over 30% year over year, reflecting operational efficiencies [6] Market Data and Key Metrics Changes - The company is in active discussions for strategic partnerships, with increased market capitalization following the publication in Nature's Oncogene, indicating growing investor confidence in INKT therapies [6][7] Company Strategy and Development Direction - The company is focusing on advancing its INKT platform for oncology and immune-related diseases, with plans to apply INKTs to hematopoietic stem cell transplantation and severe inflammatory syndromes [10][12] - Upcoming trials include a Phase I trial for GVHD and a Phase II trial for gastric cancer, with expectations for top-line data by 2025 [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of INKT therapies to address unmet needs in cancer and other immune-related diseases, emphasizing the unique capabilities of INKTs [4][10] - The company is well-positioned to advance multiple programs in parallel while preserving shareholder value, supported by a lean cost structure and a strong balance sheet [17] Other Important Information - The company is advancing its engineered INKT programs, with a focus on CAR INKT, which has shown promising preclinical results [15][31] - The company has received funding from the Department of Defense and the University of Wisconsin Cancer Center to support its clinical trials [14][41] Q&A Session Summary Question: Could you talk about the preventative GVHD trial design? - The trial is designed as a Phase I with a run-in for safety, starting with a lower dose and expanding to a target dose of one billion cells per patient [22][24] Question: Updates on the gastric cancer study? - The company has mature clinical follow-up data and plans to present survival follow-up and immune-modifying properties of the cells in a peer-reviewed journal [26][28] Question: Information on the grants and their impact on clinical trial costs? - The trials are fully funded, allowing flexibility to interrogate additional biomarkers without capital infusion from the company [40][41] Question: Details on the Phase II/III trial for ARDS? - The trial will focus on primary endpoints for FDA registration, including 28-day mortality and prevention of secondary infections, with promising preliminary results [46][47]