What is Mink Therapeutics, Inc.'s earnings per share (EPS)?

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. Financials

INKT

Source SEC Filings (10-K/10-Q) Updated May 15, 2026 Currency USD FYE December

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).

Rhea AI INKT FY2025 2026-05-15

MiNK’s visible mechanic is external financing replenishing cash while a liability-heavy balance sheet still supports ongoing operating burn.

In FY2025, cash climbed to $13.4M even as operations used $5.9M, so the stronger cash position came from financing rather than the business paying for itself. That matters because near-term liquidity improved, but total liabilities still exceed total assets, leaving the company looking temporarily refilled with cash rather than internally self-sustaining.

The improvement from FY2023 to FY2024 came mainly from a pullback in R&D: research spend fell from $15.5M to $6.3M. In FY2025, SG&A re-expanded, which changed the spending mix and helps explain why cash burn improved while the accounting loss did not improve in the same way.

FY2025 looks like a liquidity repair more than a full balance-sheet fix: cash of $13.4M roughly matched current liabilities of $13.0M. But negative equity remains, so the company has eased the immediate squeeze seen in FY2024 without rebuilding a shareholder capital cushion.

Financial Health Signals

Financial Profile 17/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Mink Therapeutics, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Mink Therapeutics, Inc. carries a low D/E ratio of -2.00, meaning only $-2.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Mink Therapeutics, Inc.'s current ratio of 1.06 is below the typical benchmark, resulting in a score of 16/100. However, the company holds substantial cash reserves (103% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Piotroski F-Score Weak

3/9

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

N/A

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	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	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
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$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	$6.7M+56.0%	$4.3M-41.9%	$7.4M-5.1%	$7.8M+68.8%	$4.6M+260.3%	$1.3M
Operating Income	-$12.6M-12.0%	-$11.3M	N/A	-$30.9M-9.1%	-$28.4M-93.7%	-$14.6M
Interest Expense	-$110K-18.3%	-$93K-232.1%	-$28K-111.1%	$253K-89.6%	$2.4M-0.4%	$2.4M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$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

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	$1.2M	N/A	$1.1M-37.8%	$1.8M+45.7%	$1.3M	N/A	$541K-70.6%	$1.8M
SG&A Expenses	$1.7M	N/A	$1.8M-0.1%	$1.8M+45.5%	$1.3M	N/A	$1.2M+9.5%	$1.1M
Operating Income	-$2.9M	N/A	-$3.2M+21.4%	-$4.1M-50.1%	-$2.7M	N/A	-$1.9M+38.6%	-$3.1M
Interest Expense	-$4K	N/A	-$25K+7.4%	-$27K+6.9%	-$29K	N/A	-$28K-7.7%	-$26K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$2.7M	N/A	-$2.9M+31.9%	-$4.2M-53.2%	-$2.8M	N/A	-$1.8M+33.1%	-$2.7M
EPS (Diluted)	$-0.57	N/A	$-0.65+38.7%	$-1.06-51.4%	$-0.70	N/A	$-0.46+37.0%	$-0.73

INKT Balance Sheet

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
Inventory	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
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
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
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
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

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$10.4M-27.1%	$14.2M-4.8%	$15.0M+502.3%	$2.5M-41.8%	$4.3M-25.4%	$5.7M-22.4%	$7.4M-28.6%	$10.3M
Current Assets	$10.0M-27.6%	$13.8M-4.7%	$14.5M+622.7%	$2.0M-43.8%	$3.6M-28.2%	$5.0M-24.1%	$6.6M-30.6%	$9.5M
Cash & Equivalents	$9.5M-28.7%	$13.4M-6.4%	$14.3M+749.1%	$1.7M-48.0%	$3.2M-29.3%	$4.6M-27.7%	$6.3M-32.1%	$9.3M
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	$23.1M-19.0%	$28.5M0.0%	$28.5M+2.9%	$27.7M+6.2%	$26.1M+3.0%	$25.3M+1.5%	$24.9M-7.3%	$26.9M
Current Liabilities	$7.3M-44.1%	$13.0M-3.0%	$13.4M+2.1%	$13.2M+8.6%	$12.1M+74.1%	$7.0M-5.9%	$7.4M-27.1%	$10.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$12.7M+10.8%	-$14.2M-5.3%	-$13.5M+46.4%	-$25.2M-15.6%	-$21.8M-11.3%	-$19.6M-11.6%	-$17.6M-5.9%	-$16.6M
Retained Earnings	-$159.4M-1.8%	-$156.7M-1.7%	-$154.1M-1.9%	-$151.2M-2.9%	-$146.9M-1.9%	-$144.2M-1.7%	-$141.7M-1.3%	-$139.9M

INKT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$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	$74K-70.6%	$250K+0.4%	$249K+161.5%	$95K
Free Cash Flow	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	-$74K+70.6%	-$250K-0.4%	-$249K-161.5%	-$95K
Financing Cash Flow	$14.7M+36.1%	$10.8M+2757.3%	-$407K-161.7%	-$156K-100.3%	$49.3M+343.5%	$11.1M
Dividends Paid	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

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$1.7M+16.5%	-$2.1M-120.3%	-$941K+40.0%	-$1.6M-17.0%	-$1.3M+22.4%	-$1.7M+42.3%	-$3.0M-30.7%	-$2.3M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$2.1M-278.8%	$1.2M-91.3%	$13.5M+2508358.9%	$540-6.3%	$576+19300.0%	-$3-100.0%	$7K-99.9%	$5.8M
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	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	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
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
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+0.3	0.72+0.4	0.32-1.3	1.61-0.8	2.41+2.1	0.29
Debt-to-Equity	-2.00-0.7	-1.29-0.0	-1.25+53.3	-54.50-55.2	0.69+1.8	-1.08
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	-26.4%	N/A	-19.3%+151.3pp	-170.6%-105.7pp	-64.8%	N/A	-24.5%+1.7pp	-26.2%
Current Ratio	1.38+0.3	1.06-0.0	1.08+0.9	0.15-0.1	0.30-0.4	0.72-0.2	0.89-0.0	0.93
Debt-to-Equity	-1.82+0.2	-2.00+0.1	-2.11-1.0	-1.10+0.1	-1.20+0.1	-1.29+0.1	-1.42+0.2	-1.62
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

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) generated -$5.9M in operating cash flow during fiscal year 2025, representing cash generated from 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 debt-to-equity ratio?

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.

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 unusual?

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.

What is Mink Therapeutics, Inc.'s Piotroski F-Score?

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 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) 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.

Can Mink Therapeutics, Inc. cover its interest payments?

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.

How financially healthy is Mink Therapeutics, Inc.?

Mink Therapeutics, Inc. (INKT) scores 17 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.