• Cash Balance: $4.6 million at year-end.
• Cash Used in Operations: $1.7 million for Q4 2024; $9.6 million for the full year 2024.
• Net Loss: $10.8 million for 2024, or $2.86 per share.
• Net Loss Comparison: $22.5 million for 2023, or $6.54 per share.

Release Date: March 18, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• MiNK Therapeutics Inc (NASDAQ:INKT) strengthened its leadership team by adding Dr. Robert Kadlec, a renowned leader in biodefense and pandemic preparedness, to its Board of Directors.
• The company expanded its innovation toolkit through a strategic collaboration with Autonomous Therapeutics, aiming to enhance its iNKT cell therapies with encrypted RNA technology.
• MiNK Therapeutics Inc (NASDAQ:INKT) presented promising data at major conferences, demonstrating the potential of its iNKT cell therapies in enhancing immune activation and overcoming resistance in challenging cancers.
• The company reported an 80% survival rate in a Phase 1 study for patients with severe acute respiratory distress, showcasing the potential of its iNKT cells in addressing high-impact health challenges.
• MiNK Therapeutics Inc (NASDAQ:INKT) has a cash runway through the end of 2025, reflecting its efforts to manage resources efficiently while advancing its programs.

Negative Points

• The departure of General Counsel Robert Foster could pose challenges in maintaining legal and regulatory continuity.
• The company reported a net loss of $10.8 million for 2024, highlighting ongoing financial challenges.
• MiNK Therapeutics Inc (NASDAQ:INKT) has a relatively low cash balance of $4.6 million, which may limit its ability to fund extensive research and development activities.
• The company's reliance on probable funding from NIAID for its GVHD study introduces uncertainty in its financial planning and project timelines.
• The need for strategic partnerships and external funding indicates potential challenges in sustaining long-term independent growth.

Q & A Highlights

• Warning! GuruFocus has detected 2 Warning Signs with INKT.

Q: Can you provide more details on the status of the Phase 2 study, including enrollment and data timelines? Also, what are the main focuses for 2025 regarding 797 in gastric cancer and GVHD? A: We plan to advance 797 in both gastric cancer and GVHD this year. The Phase 2 study has the majority of patients enrolled, and we expect to present data in the second half of the year. Our focus for 2025 includes advancing our next-generation pipeline, particularly the FAP CAR-iNKT, which is on track for clinical trials in 2025.

Q: What feedback have you received from KOLs regarding the AACR IO presentation, and do you see a path for accelerated approval based on your data? A: KOLs, including lead investigator Dr. Yelena Injigin, are very supportive and motivated by the trial's progress. We are accumulating data to demonstrate clinical benefits and will engage in regulatory discussions to explore the most efficient path for approval, especially given the unmet need in second-line gastric cancer.

Q: How does the iNKT approach in the PRAME-TCR program differentiate from other cell therapy approaches? A: iNKT cells offer unique advantages such as no need for HLA matching, no lymphodepletion, and durable responses. They recruit conventional T cells and NK cells, providing a potent and selective response. Our PRAME-TCR program targets intracellular tumor antigens with high specificity, setting it apart from other therapies.

Q: What is the status of the graft-versus-host disease study funding from NIAID, and what are your backup plans if funding is delayed? A: The funding situation is fluid, but we are optimistic due to the program's importance. We have designed the trial and submitted it to regulatory boards. As a backup, we are exploring specific financing options to advance the trial, complementing potential non-dilutive government funding.

Q: Can you provide an update on MiNK's financial position and cash runway? A: Based on our financial projections and internal efficiencies, we have sufficient cash to sustain operations through the end of 2025.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.