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INKT

MiNK Therapeutics, Inc.

INKT

MiNK Therapeutics, Inc. • NASDAQ
$10.51 ▼ -5.82% (-0.65)
Market Cap $49.34 M
52w High $76.00
52w Low $4.56
Dividend Yield 0%
P/E -3.49
Volume 9.22K
Outstanding Shares 4.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $2.946M ▼ $-2.888M ▲ 0% $-0.65 ▲ $-2.844M ▲
Q2-2025 $0 $3.64M ▲ $-4.238M ▼ 0% $-1.06 ▼ $-4.189M ▼
Q1-2025 $0 $2.482M ▲ $-2.767M ▼ 0% $-0.7 ▼ $-2.716M ▼
Q4-2024 $0 $2.161M ▲ $-2.464M ▼ 0% $-0.65 ▼ $-2.41M ▼
Q3-2024 $0 $1.641M $-1.807M 0% $-0.48 $-1.744M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $14.281M ▲ $14.964M ▲ $28.477M ▲ $-13.513M ▲
Q2-2025 $1.682M ▼ $2.484M ▼ $27.674M ▲ $-25.189M ▼
Q1-2025 $3.235M ▼ $4.267M ▼ $26.059M ▲ $-21.792M ▼
Q4-2024 $4.577M ▼ $5.721M ▼ $25.307M ▲ $-19.586M ▼
Q3-2024 $6.328M $7.375M $24.929M $-17.554M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.888M ▲ $-941.348K ▲ $0 $13.546M ▲ $12.599M ▲ $-941.35K ▲
Q2-2025 $-4.238M ▼ $-1.569M ▲ $0 $540 ▼ $-1.553M ▲ $-1.569M ▲
Q1-2025 $-2.767M ▼ $-1.341B ▼ $0 $576K ▲ $-1.342B ▼ $-1.341B ▼
Q4-2024 $-2.463M ▼ $-1.728M ▲ $0 $-3 ▼ $-1.751M ▲ $-1.728M ▲
Q3-2024 $-1.807M $-2.995M $0 $6.805K $-2.985M $-2.995M

Five-Year Company Overview

Income Statement

Income Statement MiNK is still very much a clinical‑stage biotech story with essentially no recurring product revenue. The income statement shows a company spending steadily on research and operations while generating only a one‑time bump of income a few years ago. Losses have been consistent, though they appear to be narrowing over time on a per‑share basis, partly influenced by share count changes and the reverse split. Overall, this is a classic early‑stage profile: expenses focused on R&D and overhead, no commercial sales yet, and an income statement that depends entirely on external funding rather than business cash generation.

Balance Sheet

Balance Sheet The balance sheet looks very light and quite fragile. Cash and total assets have declined from earlier years to very low levels, while shareholder equity has slipped into negative territory more recently. The company has removed its debt, which reduces financial obligations, but this comes at a time when it has very few assets left. In simple terms, MiNK has a thin capital cushion and limited financial flexibility, which increases its dependence on future equity raises, partnerships, or other funding to keep operating and move its pipeline forward.

Cash Flow

Cash Flow Cash flow is consistently negative from core operations, reflecting ongoing spending on R&D and corporate costs without offsetting revenue. Free cash flow is similarly negative, though the company is not investing heavily in physical assets or facilities, so nearly all cash burn appears tied to running the business and developing the pipeline. The burn rate looks relatively stable but is occurring off a small cash base, which heightens the importance of timely access to new capital. Without fresh funding, the current cash generation profile alone would not sustain the business for long.

Competitive Edge

Competitive Edge Competitively, MiNK is a niche player in a crowded and fast‑moving cell therapy field, but it has a distinct angle. Its focus on invariant Natural Killer T (iNKT) cells and off‑the‑shelf, donor‑derived products sets it apart from more common T‑cell or autologous approaches. If the platform continues to show activity in difficult solid tumors, that would be a meaningful differentiator, especially combined with a more convenient, ready‑made product and a cleaner safety profile so far. However, the company is small, early‑stage, and up against better‑funded rivals and large pharma in immuno‑oncology, so its competitive position will likely hinge on the strength of ongoing clinical data and its ability to secure partnerships or strategic backing.

Innovation and R&D

Innovation and R&D Innovation is the core of the MiNK story. The company is pushing a novel iNKT cell platform that aims to both attack tumors directly and reshape the immune environment around the cancer. Its lead asset, agenT‑797, has already delivered some notable early patient outcomes in solid tumors and is being tested across cancer and immune‑related conditions. On top of that, MiNK is developing engineered and CAR‑based iNKT programs that target tough tumor microenvironments and blood cancers. This layered pipeline, plus know‑how in scalable off‑the‑shelf manufacturing, suggests a strong R&D engine. At the same time, all of this remains at an early clinical or preclinical stage, so the scientific promise is high but the uncertainty and execution risk are also high.

Summary

MiNK Therapeutics is a high‑risk, early‑stage biotech with a very small financial footprint and no commercial products yet. The financials show a familiar pattern for a young drug developer: recurring losses, limited assets, negative equity, and steady cash burn with no clear line of sight yet to revenue. Against that, the company offers a focused and differentiated scientific strategy centered on iNKT cell therapies, an off‑the‑shelf model, and a pipeline that aims at difficult cancers and immune conditions where unmet need is large. The story is essentially a trade‑off between substantial scientific and clinical upside potential and very real funding, execution, and competitive risks. Outcomes will depend heavily on upcoming clinical data, access to capital, and MiNK’s ability to convert its innovation into durable partnerships and, eventually, approved therapies.

NEWS

November 20, 2025 · 11:42 AM UTC

MiNK Therapeutics Announces New Data Showing MiNK-215 Drives Potent Anti-Tumor Activity in Treatment-resistant Solid Tumors

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November 7, 2025 · 9:00 AM UTC

MiNK Therapeutics Reports Durable Responses and Immune Reactivation with Allo-iNKT Cell Therapy agenT-797 in PD-1–Refractory Solid Tumors at SITC 2025

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September 29, 2025 · 7:30 AM UTC

MiNK Therapeutics Appoints Colonel (Ret.) John B. Holcomb, MD, to Board of Directors

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September 25, 2025 · 7:30 AM UTC

MiNK Therapeutics Dr. Jennifer Buell to Deliver Featured Plenary at 10th Annual CAR-TCR Summit in Boston, MA

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September 18, 2025 · 7:30 AM UTC

MiNK Therapeutics Appoints Dr. Terese C. Hammond to Accelerate iNKT Pipeline to Pivotal Development

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