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Mink Therapeutics, Inc. Financials

INKT
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE March

This page shows Mink Therapeutics, Inc. (INKT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak
3/9

Mink Therapeutics, Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality
0.47x

For every $1 of reported earnings, Mink Therapeutics, Inc. generates $0.47 in operating cash flow (-$5.9M OCF vs -$12.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk
-114.9x

Mink Therapeutics, Inc. earns $-114.9 in operating income for every $1 of interest expense (-$12.6M vs $110K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
N/A
EBITDA
-$12.5M
YoY-12.5%

Mink Therapeutics, Inc.'s EBITDA was -$12.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 12.5% from the prior year.

Net Income
-$12.5M
YoY-15.9%

Mink Therapeutics, Inc. reported -$12.5M in net income in fiscal year 2025. This represents a decrease of 15.9% from the prior year.

EPS (Diluted)
$-2.93
YoY-2.4%

Mink Therapeutics, Inc. earned $-2.93 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 2.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$13.4M
YoY+191.9%
5Y CAGR+37.8%

Mink Therapeutics, Inc. held $13.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
5M
YoY+25.3%

Mink Therapeutics, Inc. had 5M shares outstanding in fiscal year 2025. This represents an increase of 25.3% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
N/A

Capital Allocation

R&D Spending
$5.8M
YoY-9.1%
5Y CAGR-9.5%

Mink Therapeutics, Inc. invested $5.8M in research and development in fiscal year 2025. This represents a decrease of 9.1% from the prior year.

Share Buybacks
N/A
Capital Expenditures
N/A

INKT Income Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses $1.1M-37.8% $1.8M+45.7% $1.3M N/A $541K-70.6% $1.8M-27.8% $2.5M N/A
SG&A Expenses $1.8M-0.1% $1.8M+45.5% $1.3M N/A $1.2M+9.5% $1.1M-17.1% $1.3M N/A
Operating Income -$3.2M+21.4% -$4.1M-50.1% -$2.7M N/A -$1.9M+38.6% -$3.1M+19.8% -$3.8M N/A
Interest Expense -$25K+7.4% -$27K+6.9% -$29K N/A -$28K-7.7% -$26K-160.0% -$10K N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income -$2.9M+31.9% -$4.2M-53.2% -$2.8M N/A -$1.8M+33.1% -$2.7M+29.1% -$3.8M N/A
EPS (Diluted) $-0.65+38.7% $-1.06-51.4% $-0.70 N/A $-0.46+37.0% $-0.73+33.6% $-1.10 N/A

INKT Balance Sheet

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Total Assets $15.0M+502.3% $2.5M-41.8% $4.3M-25.4% $5.7M-22.4% $7.4M-28.6% $10.3M+49.7% $6.9M+51.4% $4.6M
Current Assets $14.5M+622.7% $2.0M-43.8% $3.6M-28.2% $5.0M-24.1% $6.6M-30.6% $9.5M+57.9% $6.0M+66.7% $3.6M
Cash & Equivalents $14.3M+749.1% $1.7M-48.0% $3.2M-29.3% $4.6M-27.7% $6.3M-32.1% $9.3M+60.1% $5.8M+72.8% $3.4M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $28.5M+2.9% $27.7M+6.2% $26.1M+3.0% $25.3M+1.5% $24.9M-7.3% $26.9M-1.1% $27.2M+20.3% $22.6M
Current Liabilities $13.4M+2.1% $13.2M+8.6% $12.1M+74.1% $7.0M-5.9% $7.4M-27.1% $10.1M-8.7% $11.1M-2.6% $11.4M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity -$13.5M+46.4% -$25.2M-15.6% -$21.8M-11.3% -$19.6M-11.6% -$17.6M-5.9% -$16.6M+18.3% -$20.3M-12.4% -$18.1M
Retained Earnings -$154.1M-1.9% -$151.2M-2.9% -$146.9M-1.9% -$144.2M-1.7% -$141.7M-1.3% -$139.9M-2.0% -$137.2M-2.9% -$133.4M

INKT Cash Flow Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Operating Cash Flow -$941K+40.0% -$1.6M-17.0% -$1.3M+22.4% -$1.7M+42.3% -$3.0M-30.7% -$2.3M+9.9% -$2.5M+16.3% -$3.0M
Capital Expenditures N/A N/A N/A N/A N/A N/A N/A $0
Free Cash Flow N/A N/A N/A N/A N/A N/A N/A -$3.0M
Investing Cash Flow N/A N/A N/A N/A N/A N/A N/A $0
Financing Cash Flow $13.5M+2508358.9% $540-6.3% $576+19300.0% -$3-100.0% $7K-99.9% $5.8M+16.0% $5.0M+250344900.0% -$2
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

INKT Financial Ratios

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A N/A
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets -19.3%+151.3pp -170.6%-105.7pp -64.8% N/A -24.5%+1.7pp -26.2%+29.1pp -55.3% N/A
Current Ratio 1.08+0.9 0.15-0.1 0.30-0.4 0.72-0.2 0.89-0.0 0.93+0.4 0.54+0.2 0.32
Debt-to-Equity -2.11-1.0 -1.10+0.1 -1.20+0.1 -1.29+0.1 -1.42+0.2 -1.62-0.3 -1.34-0.1 -1.25
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Note: Shareholder equity is negative (-$14.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

No, Mink Therapeutics, Inc. (INKT) reported a net income of -$12.5M in fiscal year 2025.

Mink Therapeutics, Inc. (INKT) reported diluted earnings per share of $-2.93 for fiscal year 2025. This represents a -2.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Mink Therapeutics, Inc. (INKT) had EBITDA of -$12.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Mink Therapeutics, Inc. (INKT) generated -$5.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Mink Therapeutics, Inc. (INKT) had $14.2M in total assets as of fiscal year 2025, including both current and long-term assets.

Mink Therapeutics, Inc. (INKT) invested $5.8M in research and development during fiscal year 2025.

Mink Therapeutics, Inc. (INKT) had 5M shares outstanding as of fiscal year 2025.

Mink Therapeutics, Inc. (INKT) had a current ratio of 1.06 as of fiscal year 2025, which is considered adequate.

Mink Therapeutics, Inc. (INKT) had a debt-to-equity ratio of -2.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Mink Therapeutics, Inc. (INKT) had a return on assets of -87.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Mink Therapeutics, Inc. (INKT) had $13.4M in cash against an annual operating cash burn of $5.9M. This gives an estimated cash runway of approximately 27 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Mink Therapeutics, Inc. (INKT) has negative shareholder equity of -$14.2M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

Mink Therapeutics, Inc. (INKT) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Mink Therapeutics, Inc. (INKT) has an earnings quality ratio of 0.47x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Mink Therapeutics, Inc. (INKT) has an interest coverage ratio of -114.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

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