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Sep 30
Mink Therapeutics Q3 2025 Earnings Report
MiNK Therapeutics reported a higher net loss in Q3 2025 as it continued development of its iNKT platform and advanced its lead program, agenT-797.
Key Takeaways
MiNK Therapeutics increased investment in its iNKT platform led to a higher net loss in Q3 2025. The company highlighted durable responses from its lead therapy agenT-797 and secured non-dilutive funding for a new GvHD trial, while extending its cash runway through 2026.
Reported net loss of $2.9 million for Q3 2025, compared to $1.8 million in Q3 2024
Cash and cash equivalents stood at $14.3 million as of September 30, 2025
Received NIH and philanthropic funding to support a new GvHD trial with agenT-797
Extended cash runway through 2026 following an additional $1.2 million raised post-quarter
Mink Therapeutics
Mink Therapeutics
Forward Guidance
MiNK Therapeutics anticipates initiating multiple studies in 2026, with early clinical readouts expected from its pulmonary and oncology programs, supported by strategic partnerships and grant funding.
Positive Outlook
- Initiation of Phase 1 GvHD study in Q1 2026 supported by NIH and philanthropy
- Early data expected from randomized Phase 2 pulmonary trial in 2026
- Continued clinical updates from agenT-797 in oncology and inflammatory cohorts
- Progress on strategic partnerships to support development
- Manufacturing optimization to enable multi-program clinical execution
Challenges Ahead
- Ongoing net losses driven by continued R&D and program activity
- No current revenue generation
- Reliance on external funding and equity sales to maintain cash runway
- Limited clinical data disclosed from ongoing trials
- Operational risks as programs move toward pivotal phases