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Mink Therapeutics (INKT) investor relations material
Mink Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Achieved full independence as an operating company, advancing allogeneic iNKT cell therapy platforms for cancer, immune restoration, and severe inflammation, with lead candidate agenT-797 showing durable remissions and long-term survivors in refractory cancers.
Presented major new clinical findings at leading scientific meetings, including durable responses in solid tumors and immune restoration in critical illness.
Launched Phase 2+ trial in severe pulmonary disease and initiated preclinical and Phase 1 studies in GvHD with non-dilutive NIH and philanthropic funding.
Strengthened leadership with the addition of Dr. John Holcomb and Dr. Therese Hammond, and expanded board expertise in biodefense, critical care, and pulmonary medicine.
Collaboration with ImmunoScape to discover novel T-cell receptor therapies for solid tumors.
Financial highlights
Ended Q3 2025 with $14.3 million in cash and cash equivalents; raised an additional $1.2 million post-quarter via at-the-market sales agreement, extending cash runway through 2026.
Net loss for Q3 2025 was $2.9 million ($0.65/share), up from $1.8 million ($0.46/share) in Q3 2024; nine-month net loss was $9.9 million ($2.39/share) vs. $8.3 million ($2.24/share) for the same period in 2024.
R&D expense for Q3 2025 increased 111% to $1.1 million due to a non-recurring gain in 2024; nine-month R&D expense decreased 14% to $4.2 million.
G&A expense for Q3 2025 rose 59% to $1.8 million, and for the nine months rose 42% to $5.0 million, mainly from higher professional fees and share-based compensation.
Sold approximately 488,000 shares in Q3 2025 and 88,000 shares post-quarter for $14.4 million in net proceeds.
Outlook and guidance
Multiple clinical programs expected to be actively enrolling by next year, with early readouts from GVHD and pulmonary cohorts and pivotal enabling pathways across inflammatory and critical illness portfolio.
Cash and equivalents, plus recent funding, expected to cover liquidity needs for more than one year, but substantial doubt remains about ability to continue as a going concern due to reliance on additional funding.
IND submission for MiNK-215 expected in 2025; ongoing progress on strategic partnerships, out-licensing, and manufacturing optimization.
Expand on agenT-797 solid tumor expansion strategy.
How do partnerships fund GvHD and pulmonary trials?
Discuss non-dilutive funding for manufacturing scale.
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Next Mink Therapeutics earnings date
Q4 202518 Mar, 2026
Next Mink Therapeutics earnings date
Q4 202518 Mar, 2026
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Frequently asked questions
Mink Therapeutics Inc. is a biotechnology company that focuses on developing immunotherapy treatments. The company specializes in creating allogeneic, off-the-shelf therapies derived from invariant natural killer T (iNKT) cells. These therapies are designed to target cancer and other immune-related diseases. Mink Therapeutics’ approach aims to harness the natural immune response, offering potential treatments that enhance the body’s ability to fight diseases. The company is headquartered in New York, United States, and its shares are listed on the NASDAQ.
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