MiNK Therapeutics Reports Clinical and Strategic Milestones and Second Quarter 2025 Results

Rhea-AI Summary

MiNK Therapeutics (NASDAQ: INKT), a clinical-stage biopharmaceutical company, reported significant Q2 2025 milestones and financial results. The company achieved a notable breakthrough with a durable complete remission in metastatic testicular cancer using their agenT-797 therapy, published in Nature's Oncogene.

MiNK secured substantial funding through two non-dilutive grants from the Department of Defense for GvHD research and raised $13 million through equity sales post-Q2, extending their cash runway beyond mid-2026. The company reported a Q2 2025 net loss of $4.2 million ($1.06 per share) compared to $2.7 million in Q2 2024, with cash and equivalents of $1.6 million at quarter-end.

Positive

• Landmark case of complete remission in metastatic testicular cancer patient using agenT-797
• Secured Department of Defense STTR grant for GvHD research
• Additional clinical grant awarded for GvHD trial initiation
• Raised $13 million post-Q2, extending cash runway beyond mid-2026
• Reduced cash burn with Q2 2025 operating cash use of $1.57M vs $2.29M in Q2 2024

Negative

• Net loss increased to $4.2M in Q2 2025 from $2.7M in Q2 2024
• Low cash position of $1.6M at Q2 end before additional funding

Insights

Biotech Investment Analyst

MiNK extended cash runway to mid-2026 with $13M raised, secured two non-dilutive grants for GvHD program, and reported promising clinical data.

MiNK Therapeutics has significantly improved its financial position, extending its cash runway beyond mid-2026 through a $13 million equity raise following the $1.6 million in cash reported at the end of Q2. This financing, combined with two new non-dilutive grants for their GvHD (graft-versus-host disease) program, provides crucial operational flexibility for a clinical-stage biotech that previously appeared to be in a precarious cash position.

The company's Q2 net loss widened to $4.2 million ($1.06 per share) compared to $2.7 million ($0.73 per share) in Q2 2024, though this includes significant non-cash expenses from equity award repricing. More encouragingly, cash burn from operations decreased to $1.57 million for the quarter, down from $2.29 million in the same period last year – a 31% reduction that suggests improved operational efficiency.

On the clinical front, MiNK's publication in Nature's Oncogene featuring a patient with treatment-refractory metastatic testicular cancer achieving complete remission following a single infusion of agenT-797 represents a potentially significant proof-of-concept for their invariant natural killer T (iNKT) cell platform. While a single case study doesn't prove broad efficacy, durable complete remissions in heavily pretreated patients merit attention.

The company is now expanding beyond oncology with their GvHD program, supported by Department of Defense funding and an additional clinical grant. This diversification could reduce risk while potentially accelerating the validation of their platform technology in a new therapeutic area. Meanwhile, their Phase 2 trial in second-line gastric cancer continues with additional readouts expected this year, which will provide more substantive evidence of efficacy.

• Cash runway extended to deliver clinical program in GVHD and Ph2 results in 2L Gastric Cancer
• Department of Defense STTR Grant to advance INKTs in GVHD announced; program advancing
• New clinical grant awarded to launch AgenT-797 in GvHD clinical trial; target initiation 2H2025
  
  

NEW YORK, Aug. 14, 2025 (GLOBE NEWSWIRE) -- MiNK Therapeutics, Inc. (NASDAQ: INKT), a clinical-stage biopharmaceutical company pioneering allogeneic, off-the-shelf invariant natural killer T (iNKT) cell therapies, today announced financial results for the second quarter ended June 30, 2025, and provided a business update highlighting major clinical achievements, a strengthened balance sheet, and expanded funding to advance both oncology and immunology programs.

“In Q2, we demonstrated the power of our platform with high impact clinical results, publication of key clinical findings, and competitive, non-dilutive, federal funding,” said Jennifer Buell, Ph.D., President and Chief Executive Officer of MiNK Therapeutics. “Since quarter-end, we further strengthened our financial position that extends our runway beyond mid-2026. With our cash position, coupled with two separate non-dilutive grants for the clinical advancement of allo-INKTs in GvHD — we can achieve substantial clinical program advancements.”

Highlights from Q2 2025

• Durable Complete Remission in Metastatic Testicular Cancer: Nature’s Oncogene publication of a landmark case of a patient with treatment-refractory metastatic testicular cancer who achieved a durable complete remission following a single infusion of agenT-797 (allo-INKTs) in combination with checkpoint blockade. The patient remains disease-free more than two years post-treatment.
• Strengthened Balance Sheet: Increased cash reserves extending runway beyond mid-2026 to advance clinical programs.
• Department of Defense STTR Grant Awarded for GvHD: Competitive DOD STTR grant awarded to advance development of iNKTs for graft-versus-host disease (GvHD) prevention and treatment; program launched.
• NEW Clinical Grant Awarded for GvHD: Additional clinical competitive grant awarded to initiate a first-in-human clinical trial of iNKTs in GvHD, with trial initiation targeted in 2H2025.
• Progress in Phase 2 Gastric Cancer Study: Phase 2 trial of agenT-797 in second-line gastric cancer anticipated additional clinical readouts in 2025.
• Peer-Reviewed Review of iNKT Cell Therapy: A Frontiers in Immunology featured MiNK’s platform, highlighting iNKT cells’ can remodel the tumor microenvironment and overcome therapeutic resistance, showcasing CAR-iNKTs, such as MiNK-215 as a next-generation solution for solid tumors.
  
  

Financial Highlights

• Cash Position: MiNK ended Q2 2025 with approximately $1.6 million in cash and cash equivalents and subsequently raised $13 million through equity sales, providing expected runway into mid-2026.  
• Net Loss: Net loss for Q2 2025 was $4.2 million, or $1.06 per share, compared to $2.7 million, or $0.73 per share for Q2 2024. For the first half of 2025, net loss was $7 million, or $1.76 per share compared to $6.5 million or $1.82 per share for the first half of 2024. Current period results reflect ongoing activity supporting our agent-797 programs and non-cash expenses including the impact of repricing of certain equity awards.
  
  

Summary Consolidated Financial Information
Condensed Consolidated Balance Sheet Data
(in thousands)
(unaudited)
	June 30, 2025
Cash and cash equivalents	$	1,682
Cash raised since quarter end		13,012
Other Financial Information
(in thousands)
(unaudited)
	Three months ended June 30,								Six months ended June 30,
		2025				2024				2025				2024
Cash used in operations	$	1,569			$	2,291			$	2,910			$	4,833
Non-cash expenses		1,501				491				2,336				1,141
Net loss		4,237				2,702				7,004				6,515
Net loss per share		1.06				0.73				1.76				1.82

Conference Call and Webcast Information

MiNK will host a conference call and webcast on August 14, 2025, at 8:30 a.m. ET.

To access the live call, please dial (800) 715-9871 (U.S.) or (646) 307-1963 (International) and reference conference ID 1149380.

A live webcast and replay will be available in the Events & Presentations section of MiNK’s investor website at https://investor.minktherapeutics.com/events-and-presentations.

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.

Forward Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws. 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. 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 undertakes 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 | investor@minktherapeutics.com
Media Contact
781-674-4422 | communications@minktherapeutics.com

FAQ

What were MiNK Therapeutics' (INKT) key clinical achievements in Q2 2025?

MiNK reported a landmark complete remission case in metastatic testicular cancer using agenT-797, published in Nature's Oncogene. The patient remains disease-free after two years. The company also advanced its Phase 2 gastric cancer study.

How much funding did MiNK Therapeutics (INKT) secure in Q2 2025?

MiNK secured two non-dilutive grants from the Department of Defense for GvHD research and raised $13 million through equity sales after Q2, extending their cash runway beyond mid-2026.

What was MiNK Therapeutics' (INKT) financial performance in Q2 2025?

MiNK reported a net loss of $4.2 million ($1.06 per share) in Q2 2025, compared to $2.7 million in Q2 2024. The company had $1.6 million in cash at quarter-end, with reduced cash burn of $1.57M in operations.

What are MiNK Therapeutics' (INKT) plans for GvHD clinical trials?

MiNK plans to initiate a first-in-human clinical trial of iNKTs in GvHD in the second half of 2025, supported by both a DOD STTR grant and an additional clinical competitive grant.

What is the cash runway outlook for MiNK Therapeutics (INKT)?

With the $13 million raised post-Q2 2025 through equity sales and additional non-dilutive grants, MiNK has extended its cash runway beyond mid-2026.