Mink Therapeutics, Inc. Financials
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).
Financing inflows rather than operations rebuilt liquidity, while the cost base stayed research-led and equity remained negative.
From FY2023 to FY2025, operating cash burn improved from-$15.8M to-$5.9M , a much bigger change than the net loss trend, so reported losses and cash use stopped moving together. Cash rose to$13.4M only because financing inflows reached$14.7M , which means the liquidity repair came from capital raising rather than self-funding.
The cost structure has shifted: R&D fell from
Short-term liquidity looks repaired compared with FY2023: the current ratio moved from 0.3x to 1.1x. But negative equity of
Financial Health Signals
Mink Therapeutics, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Mink Therapeutics, Inc. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Mink Therapeutics, Inc. reported a net loss of $12.5M while operations used $5.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Mink Therapeutics, Inc. reported an operating loss of $12.6M against $110K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
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.
Mink Therapeutics, Inc. reported -$12.5M in net income in fiscal year 2025. This represents a decrease of 15.9% from the prior year.
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.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Mink Therapeutics, Inc. held $13.4M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
INKT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| R&D Expenses | N/A | $5.8M-9.1% | $6.3M-59.1% | $15.5M-33.0% | $23.1M+65.5% | $14.0M+46.9% | $9.5M |
| SG&A Expenses | N/A | $6.7M+56.0% | $4.3M-41.9% | $7.4M-5.1% | $7.8M+68.8% | $4.6M+260.3% | $1.3M |
| Operating Income | N/A | -$12.6M-12.0% | -$11.3M | N/A | -$30.9M-9.1% | -$28.4M-93.7% | -$14.6M |
| Interest Expense | N/A | -$110K-18.3% | -$93K-232.1% | -$28K-111.1% | $253K-89.6% | $2.4M-0.4% | $2.4M |
| Net Income | N/A | -$12.5M-15.9% | -$10.8M+52.0% | -$22.5M+19.8% | -$28.0M+7.4% | -$30.2M-86.1% | -$16.2M |
| EPS (Diluted) | — | -$2.93-2.4% | -$2.86+56.3% | -$6.54 | -$0.83+28.4% | -$1.16 | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
INKT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $14.2M+148.9% | $5.7M+25.7% | $4.6M-78.8% | $21.5M-46.6% | $40.2M+783.4% | $4.6M |
| Current Assets | $13.8M+177.6% | $5.0M+38.6% | $3.6M-82.4% | $20.4M-48.5% | $39.6M+867.5% | $4.1M |
| Cash & Equivalents | $13.4M+191.9% | $4.6M+35.9% | $3.4M-82.9% | $19.6M-49.5% | $38.9M+1345.1% | $2.7M |
| Total Liabilities | $28.5M+12.5% | $25.3M+11.9% | $22.6M+3.4% | $21.9M+32.8% | $16.5M-71.8% | $58.4M |
| Current Liabilities | $13.0M+87.2% | $7.0M-39.0% | $11.4M-10.1% | $12.7M-23.0% | $16.5M+15.8% | $14.2M |
| Total Equity | -$14.2M+27.4% | -$19.6M-8.5% | -$18.1M-4399.2% | -$401K-101.7% | $23.8M+144.1% | -$53.9M |
| Retained Earnings | -$156.7M-8.7% | -$144.2M-8.1% | -$133.4M-20.2% | -$110.9M-33.7% | -$82.9M-57.3% | -$52.7M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
INKT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.8M | -$5.9M+38.0% | -$9.6M+39.4% | -$15.8M+16.5% | -$18.9M-47.1% | -$12.8M-53.8% | -$8.3M |
| Capital Expenditures | N/A | N/A | N/A | $74K-70.6% | $250K+0.4% | $249K+161.5% | $95K |
| Free Cash Flow | N/A | N/A | N/A | -$15.8M+17.2% | -$19.1M-46.2% | -$13.1M-55.1% | -$8.4M |
| Investing Cash Flow | N/A | N/A | N/A | -$74K+70.6% | -$250K-0.4% | -$249K-161.5% | -$95K |
| Financing Cash Flow | $14.0M | $14.7M+36.1% | $10.8M+2757.3% | -$407K-161.7% | -$156K-100.3% | $49.3M+343.5% | $11.1M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
INKT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Return on Equity | N/A | N/A | N/A | N/A | -127.1% | N/A |
| Return on Assets | -87.8%+100.8pp | -188.5%+304.8pp | -493.3%-363.0pp | -130.4%-55.3pp | -75.1%+281.4pp | -356.5% |
| Current Ratio | 1.06+0.3x | 0.72+0.4x | 0.32-1.3x | 1.61-0.8x | 2.41+2.1x | 0.29 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | 0.69 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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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Where Mink Therapeutics, Inc. Ranks
Frequently Asked Questions
Is Mink Therapeutics, Inc. profitable?
No, Mink Therapeutics, Inc. (INKT) reported a net income of -$12.5M in fiscal year 2025.
What is Mink Therapeutics, Inc.'s EBITDA?
Mink Therapeutics, Inc. (INKT) had EBITDA of -$12.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Mink Therapeutics, Inc.'s operating cash flow?
Mink Therapeutics, Inc. (INKT) recorded an outflow of $5.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Mink Therapeutics, Inc.'s total assets?
Mink Therapeutics, Inc. (INKT) had $14.2M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Mink Therapeutics, Inc. spend on research and development?
Mink Therapeutics, Inc. (INKT) invested $5.8M in research and development during fiscal year 2025.
What is Mink Therapeutics, Inc.'s current ratio?
Mink Therapeutics, Inc. (INKT) had a current ratio of 1.06 as of fiscal year 2025, which is considered adequate.
What is Mink Therapeutics, Inc.'s return on assets (ROA)?
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.
What is Mink Therapeutics, Inc.'s cash runway?
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.
Why is Mink Therapeutics, Inc.'s debt-to-equity ratio negative or not reported?
Mink Therapeutics, Inc. (INKT) has negative shareholder equity of -$14.2M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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.
What is Mink Therapeutics, Inc.'s Piotroski F-Score?
Mink Therapeutics, Inc. (INKT) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mink Therapeutics, Inc.'s earnings high quality?
Mink Therapeutics, Inc. (INKT) reported a net loss of $12.5M while operations used $5.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.
Can Mink Therapeutics, Inc. cover its interest payments?
Mink Therapeutics, Inc. (INKT) reported an operating loss of $12.6M against $110K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.