MiNK Therapeutics Reports $2.77 Million Net Loss in Q1 2025, Focuses on iNKT Cell Therapies

MiNK Therapeutics, Inc. reported a net loss of $2.77 million for the first quarter of 2025, a decrease from the $3.81 million loss recorded in the same period of 2024. The company's operating loss also improved, narrowing to $2.70 million from $3.83 million year-over-year. Total revenue for the quarter remained negligible, as the company continues to focus on research and development of its allogeneic invariant natural killer T (iNKT) cell therapies. Research and development expenses decreased significantly by 51% to $1.26 million, primarily due to reduced clinical trial costs and a decrease in personnel expenses.

In terms of operational metrics, MiNK's cash and cash equivalents stood at $3.23 million as of March 31, 2025, down from $5.82 million a year earlier. The company has an accumulated deficit of $146.95 million, reflecting its ongoing investment in product development since its inception in 2017. The weighted average number of common shares outstanding increased to approximately 3.96 million, up from 3.46 million in the prior year, following a reverse stock split executed in January 2025.

Strategically, MiNK is advancing its clinical pipeline, with its lead candidate, agenT-797, undergoing trials for various cancers and viral acute respiratory distress syndrome (ARDS). The company has established in-house manufacturing capabilities, enabling it to produce over 5,000 doses annually. Additionally, MiNK has entered into a collaboration with ImmunoScape to develop next-generation T-cell receptor therapies, which is expected to enhance its product offerings in the competitive biopharmaceutical landscape.

Looking ahead, MiNK anticipates the need for additional funding to support its ongoing operations and clinical trials. The company is exploring various avenues for financing, including strategic partnerships and potential equity or debt financing options. However, management has indicated that there is substantial doubt about the company's ability to continue as a going concern for the next year, contingent on securing necessary funding. The company is actively monitoring its liquidity position and adjusting expenditures to preserve cash flow as it navigates the complexities of clinical development and regulatory approvals.