MiNK Therapeutics Reports Fourth Quarter & Full Year 2024 Results and Highlights Business Progress
MiNK Therapeutics (NASDAQ: INKT) reported its Q4 and full year 2024 financial results, highlighting progress in developing allogeneic iNKT cell therapies. The company's lead candidate, AgenT-797, showed promising results in cancer treatment and inflammatory lung conditions, with an 80% survival rate in VV ECMO patients versus 10% in hospital controls.
Key developments include a Phase 2 trial in advanced gastric cancer, next-generation PRAME-TCR iNKTs development, and MiNK-215 showing anti-tumor activity in colorectal cancer models. The company secured a research collaboration with Autonomous Therapeutics and raised $5.8M in private financing.
Financial results show a year-end cash balance of $4.6M, reduced cash burn with operations using $9.6M in 2024 compared to $15.8M in 2023. Net loss improved to $10.8M ($2.86 per share) in 2024 from $22.5M ($6.54 per share) in 2023.
MiNK Therapeutics (NASDAQ: INKT) ha riportato i risultati finanziari del quarto trimestre e dell'intero anno 2024, evidenziando i progressi nello sviluppo delle terapie cellulari iNKT allogeniche. Il candidato principale dell'azienda, AgenT-797, ha mostrato risultati promettenti nel trattamento del cancro e nelle condizioni polmonari infiammatorie, con un tasso di sopravvivenza dell'80% nei pazienti VV ECMO rispetto al 10% nei controlli ospedalieri.
Sviluppi chiave includono uno studio di Fase 2 nel cancro gastrico avanzato, lo sviluppo di iNKT PRAME-TCR di nuova generazione e MiNK-215 che ha mostrato attività anti-tumorale nei modelli di cancro colorettale. L'azienda ha ottenuto una collaborazione di ricerca con Autonomous Therapeutics e ha raccolto 5,8 milioni di dollari in finanziamenti privati.
I risultati finanziari mostrano un saldo di cassa a fine anno di 4,6 milioni di dollari, con una riduzione del consumo di cassa, utilizzando 9,6 milioni di dollari nel 2024 rispetto ai 15,8 milioni di dollari nel 2023. La perdita netta è migliorata a 10,8 milioni di dollari (2,86 dollari per azione) nel 2024 rispetto ai 22,5 milioni di dollari (6,54 dollari per azione) nel 2023.
MiNK Therapeutics (NASDAQ: INKT) reportó sus resultados financieros del cuarto trimestre y del año completo 2024, destacando los avances en el desarrollo de terapias celulares iNKT alogénicas. El candidato principal de la compañía, AgenT-797, mostró resultados prometedores en el tratamiento del cáncer y en condiciones pulmonares inflamatorias, con una tasa de supervivencia del 80% en pacientes VV ECMO frente al 10% en controles hospitalarios.
Los desarrollos clave incluyen un ensayo de Fase 2 en cáncer gástrico avanzado, el desarrollo de iNKTs PRAME-TCR de próxima generación, y MiNK-215 mostrando actividad anti-tumoral en modelos de cáncer colorrectal. La compañía aseguró una colaboración de investigación con Autonomous Therapeutics y recaudó 5,8 millones de dólares en financiamiento privado.
Los resultados financieros muestran un saldo de efectivo a fin de año de 4,6 millones de dólares, con una reducción en el consumo de efectivo, utilizando 9,6 millones de dólares en 2024 en comparación con 15,8 millones de dólares en 2023. La pérdida neta mejoró a 10,8 millones de dólares (2,86 dólares por acción) en 2024 desde 22,5 millones de dólares (6,54 dólares por acción) en 2023.
MiNK Therapeutics (NASDAQ: INKT)는 2024년 4분기 및 연간 재무 결과를 발표하며, 동종 이식 iNKT 세포 치료제 개발의 진전을 강조했습니다. 회사의 주요 후보인 AgenT-797는 암 치료 및 염증성 폐 질환에서 유망한 결과를 보여주었으며, VV ECMO 환자에서 80%의 생존율을 기록했고, 병원 대조군에서는 10%였습니다.
주요 개발 사항으로는 진행성 위암에 대한 2상 시험, 차세대 PRAME-TCR iNKT 개발, 그리고 MiNK-215가 대장암 모델에서 항종양 활성을 보였습니다. 회사는 Autonomous Therapeutics와 연구 협력을 확보하고, 580만 달러의 민간 자금을 조달했습니다.
재무 결과는 연말 현금 잔고가 460만 달러이며, 2024년 운영에 960만 달러를 사용하여 현금 소모가 감소했음을 보여줍니다. 2023년의 1580만 달러와 비교됩니다. 순손실은 2024년에 1080만 달러(주당 2.86 달러)로 개선되었으며, 2023년에는 2250만 달러(주당 6.54 달러)였습니다.
MiNK Therapeutics (NASDAQ: INKT) a publié ses résultats financiers du quatrième trimestre et de l'année complète 2024, mettant en avant les progrès réalisés dans le développement des thérapies cellulaires iNKT allogéniques. Le candidat principal de l'entreprise, AgenT-797, a montré des résultats prometteurs dans le traitement du cancer et des affections pulmonaires inflammatoires, avec un taux de survie de 80 % chez les patients VV ECMO contre 10 % chez les contrôles hospitaliers.
Les développements clés incluent un essai de phase 2 dans le cancer gastrique avancé, le développement des iNKT PRAME-TCR de nouvelle génération, et MiNK-215 montrant une activité anti-tumorale dans des modèles de cancer colorectal. L'entreprise a sécurisé une collaboration de recherche avec Autonomous Therapeutics et a levé 5,8 millions de dollars en financement privé.
Les résultats financiers montrent un solde de trésorerie de fin d'année de 4,6 millions de dollars, une réduction de la consommation de trésorerie avec des opérations utilisant 9,6 millions de dollars en 2024 contre 15,8 millions de dollars en 2023. La perte nette s'est améliorée à 10,8 millions de dollars (2,86 dollars par action) en 2024 contre 22,5 millions de dollars (6,54 dollars par action) en 2023.
MiNK Therapeutics (NASDAQ: INKT) hat seine Finanzberichte für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und dabei Fortschritte bei der Entwicklung allogener iNKT-Zelltherapien hervorgehoben. Der Hauptkandidat des Unternehmens, AgenT-797, zeigte vielversprechende Ergebnisse in der Krebsbehandlung und bei entzündlichen Lungenerkrankungen, mit einer Überlebensrate von 80% bei VV ECMO-Patienten im Vergleich zu 10% bei Krankenhauskontrollen.
Wichtige Entwicklungen umfassen eine Phase-2-Studie bei fortgeschrittenem Magenkrebs, die Entwicklung von iNKTs der nächsten Generation mit PRAME-TCR sowie MiNK-215, das in Modellen von Dickdarmkrebs eine anti-tumorale Aktivität zeigt. Das Unternehmen sicherte sich eine Forschungskooperation mit Autonomous Therapeutics und sammelte 5,8 Millionen Dollar in privater Finanzierung.
Die finanziellen Ergebnisse zeigen einen Jahresend-Bargeldbestand von 4,6 Millionen Dollar, einen reduzierten Bargeldverbrauch mit Betriebskosten von 9,6 Millionen Dollar im Jahr 2024 im Vergleich zu 15,8 Millionen Dollar im Jahr 2023. Der Nettoverlust verbesserte sich auf 10,8 Millionen Dollar (2,86 Dollar pro Aktie) im Jahr 2024 von 22,5 Millionen Dollar (6,54 Dollar pro Aktie) im Jahr 2023.
- Significant improvement in net loss to $10.8M from $22.5M year-over-year
- Reduced cash burn by 39% to $9.6M from $15.8M in 2023
- AgenT-797 achieved 80% survival rate in VV ECMO patients vs 10% control
- New research collaboration with Autonomous Therapeutics
- Raised $5.8M in private financing
- Low cash balance of $4.6M may require additional financing
- Continued net losses of $10.8M in 2024
- Reliance on external funding for clinical trials due to resources
Insights
MiNK Therapeutics has shown significant financial discipline in 2024, with a 39% reduction in cash burn (
Despite these operational improvements, MiNK's ending cash position of
The
While the clinical pipeline shows promise, particularly with the ARDS data showing
MiNK's iNKT cell platform is demonstrating noteworthy clinical validation across multiple indications. The AgenT-797 data published in Nature Communications showing
The company's oncology program shows particular promise in enhancing existing therapies. Early data suggests AgenT-797 can improve checkpoint inhibitor efficacy and augment bispecific engagers in heavily pretreated patients - essentially making existing cancer therapies work better. The active Phase 2 trial in second-line advanced gastric cancer at Memorial Sloan Kettering will be important for validating this approach.
MiNK's next-generation pipeline demonstrates technological sophistication. Their PRAME-TCR iNKTs target intracellular cancer antigens that evade conventional therapies, while MiNK-215 (IL-15 armored CAR-iNKT) shows robust activity against metastatic colorectal cancer models by reshaping the immunosuppressive tumor microenvironment.
What sets MiNK apart is their AI-driven discovery platform generating a proprietary library of phosphorylated neoantigens and TCRs. Their manufacturing platform producing billions of allogeneic iNKT cells per run addresses a critical scaling challenge in off-the-shelf cell therapy. These technological advantages, coupled with clinical validation across multiple indications, position MiNK competitively in the cell therapy landscape despite their relatively small size.
NEW YORK, March 18, 2025 (GLOBE NEWSWIRE) -- MiNK Therapeutics, Inc. (NASDAQ: INKT), a clinical-stage biopharmaceutical company pioneering the development of allogeneic, off-the-shelf invariant natural killer T (iNKT) cell therapies, today announced its financial results for the fourth quarter and full year 2024, highlighting significant business progress and clinical advancements. The company will host a conference call and webcast at 8:30 a.m. ET.
“Throughout 2024, MiNK advanced its mission to bring off-the-shelf iNKT cell therapies to patients fighting hard-to-treat cancers and severe immune-related disorders,” said Dr. Jennifer Buell, President and Chief Executive Officer of MiNK Therapeutics. “We made significant clinical strides, strengthened our manufacturing foundation, and forged strategic alliances. Through disciplined capital management, we are positioned to scale efficiently and seize new collaboration opportunities for value creation. With our rapid AI-driven drug discovery platform generating a world-class library of phosphorylated neoantigens and proprietary TCRs, MiNK is uniquely poised to progress a new standard in oncology and beyond.”
Operational Highlights
Clinical Advancements
- Expanding Benefit in Cancer Where Standards Fail: Presentations at leading oncology conferences—including AACR IO, ASCO GI, and SITC—demonstrated that AgenT-797 enhanced immune activation, improved checkpoint inhibitor efficacy, and augmented bispecific engagers in heavily pretreated patients and preclinical models. A Phase 2 Investigator-Sponsored Trial (Memorial Sloan Kettering Cancer Center) in second-line advanced gastric cancer (NCT06251973) is actively enrolling. Early data suggest promising activity when combining AgenT-797 with botensilimab/balstilimab (BOT/BAL) and chemotherapy.
- Immunologic Activity in Inflammatory Lung Conditions (ARDS): Published results in Nature Communications and presented at the American Thoracic Society (ATS) showed AgenT-797’s potential in acute respiratory distress, with an approximately
80% survival rate among VV ECMO patients versus10% in hospital controls. Late-stage trials are designed and planned for upcoming discussion with the regulatory agencies.
Next-Generation iNKT Programs
- PRAME-TCR iNKTs: Demonstrated high specificity and potent tumor-killing against intracellular cancer targets resistant to conventional therapies. MiNK’s expertise in accessing a proprietary library of phosphorylated peptides and personalized neoantigens supports the generation of high-quality TCRs.
- MiNK-215 (IL-15 Armored CAR-iNKT): Robust anti-tumor activity in models of metastatic colorectal cancer, reshaping the immunosuppressive tumor microenvironment.
These data, including exciting findings from AACR IO on the importance of neoantigen targeting, underscore MiNK’s commitment to evolving next-generation iNKT treatments that could potentially tackle the most challenging cancer types.
Strategic Growth and Manufacturing Optimization
- MiNK’s state-of-the-art manufacturing process enables the production of billions of donor-derived iNKT cells per run, scalable to support rapid global distribution, aimed at reducing logistical hurdles, cost, and enhancing patient access.
- In October 2024, MiNK entered into a research collaboration with Autonomous Therapeutics to develop precision RNA-iNKT therapies for metastatic tumors. This collaboration is actively underway.
- In 2024, MiNK raised
$5.8M in private financing and is prioritizing externally funded clinical trials to effectively sustain and advance its iNKT cell programs.
“We believe MiNK Therapeutics is on solid footing to pioneer the next generation of cell therapies,” added Dr. Buell. “We will continue to pair scientific discipline with operational rigor, a strategy designed to enable value-inflection in 2025 and beyond.”
Financial Highlights
We ended the year with a cash balance of
Net loss for the year ended December 31, 2024 was
| Summary Consolidated Financial Information | |||||||||||||||
| Condensed Consolidated Balance Sheet Data | |||||||||||||||
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| (unaudited) | |||||||||||||||
| December 31, | |||||||||||||||
| 2024 | 2023 | ||||||||||||||
| Cash and cash equivalents | $ | 4,577 | $ | 3,367 | |||||||||||
| Total assets | 5,721 | 4,552 | |||||||||||||
| Other Financial Information | |||||||||||||||
| (in thousands) | |||||||||||||||
| (unaudited) | |||||||||||||||
| Three months ended December 31, | Year ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Cash used in operations | $ | 1,728 | $ | 3,036 | $ | 9,555 | $ | 15,763 | |||||||
| Non-cash expenses | 757 | 1,155 | 770 | 3,798 | |||||||||||
| Condensed Consolidated Statements of Operations Data | |||||||||||||||
| (in thousands, except per share data) | |||||||||||||||
| (unaudited) | |||||||||||||||
| Three months ended December 31, | Year ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | $ | 1,406 | $ | 3,311 | $ | 6,336 | $ | 15,490 | |||||||
| General and administrative | 809 | 2,189 | 4,314 | 7,431 | |||||||||||
| Change in fair value of related party note | 288 | - | 638 | - | |||||||||||
| Operating loss | 2,503 | 5,500 | 11,288 | 22,921 | |||||||||||
| Other income, net | (39 | ) | (41 | ) | (503 | ) | (463 | ) | |||||||
| Net loss | $ | 2,464 | $ | 5,459 | $ | 10,785 | $ | 22,458 | |||||||
| Per common share data, basic and diluted: | |||||||||||||||
| Net loss | $ | 0.62 | $ | 1.58 | $ | 2.86 | $ | 6.54 | |||||||
| Weighted average number of common shares outstanding, basic and diluted | 3,957 | 3,456 | 3,773 | 3,436 | |||||||||||
Conference Call
Dial-in numbers: 646-307-1963 (New York), 800-715-9871 (USA & Canada)
Conference ID: 8023784
Webcast
A live webcast and replay of the conference call will be accessible from the Events & Presentations page of the Company’s website at https://investor.minktherapeutics.com/events-and-presentations and via https://edge.media-server.com/mmc/p/s9hd6k7m/.
About MiNK Therapeutics
MiNK Therapeutics is a clinical-stage biopharmaceutical company pioneering the discovery, development, and commercialization of allogeneic invariant natural killer T (iNKT) cell therapies to treat cancer and other immune-mediated diseases. MiNK 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. The company is headquartered in New York, NY. For more information, visit https://minktherapeutics.com or @MiNK_iNKT. Information that may be important to investors will be routinely posted on our website and social media channels.
About AgenT-797
AgenT-797 is an allogeneic invariant natural killer T (iNKT) cell therapy that harnesses the dual power of innate and adaptive immunity. iNKTs function as “master regulators,” combining the cytotoxic capabilities of NK cells with T-cell–like antigen recognition and memory. This unique biology enables a robust, pathogen-agnostic immune response that can be directed against hard-to-treat tumors.
Manufactured by MiNK Therapeutics in Lexington, MA, agenT-797 is a scalable, off-the-shelf product designed to provide accessible, transformative treatment options. In clinical trials, agenT-797 can bolster peripheral memory T-cell activation, enhance tumor infiltration, and potentially improve outcomes for patients with solid cancers (Cytryn et al. AACR IO 2024, Oncogene. 2024) and to combat inflammation in critically ill patients with severe respiratory pathology (Nature Communications. 2024).
Forward Looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding the therapeutic potential, anticipated benefit, plans and timelines of iNKT cells, as well as the collaboration between MiNK and Agenus. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These forward-looking statements are subject to risks and uncertainties, including the factors described under the Risk Factors section of the most recent Form 10-K, Form 10-Q and the S-1 Registration Statement filed with the SEC. MiNK cautions investors not to place considerable reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this press release, and MiNK and Agenus with no obligation to update or revise the statements, other than to the extent required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Investor Contact
917-362-1370
Media Contact
781-674-4428
communications@minktherapeutics.com
FAQ
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