INKT · MiNK Therapeutics, Inc.

MiNK Therapeutics' 2025 financial results reflect continued investment in its clinical-stage iNKT cell therapy platform, with a net loss of $12.5 million for the year, an increase from $10.8 million in 2024. The company ended 2025 with $13.4 million in cash and has since raised an additional $3.0 million, extending its financial runway through 2026. Management emphasized 2025 as a foundational year, sharpening focus on immune restoration in autoimmune and inflammatory diseases. The financial resources are directed toward a catalyst-rich 2026 pipeline, including the planned initiation of a Phase 2 trial for ARDS/hypoxemic pneumonia in the first half of 2026, with early data expected by year-end. This program targets a substantial market opportunity of approximately 200,000–300,000 patients annually in the U.S. and major European markets. The GVHD program is advancing with external non-dilutive funding from an NIH STTR grant and a philanthropic award, with a Phase 1 trial expected to dose its first patient in May 2026 and preliminary data anticipated in the second half of 2026. In oncology, data presented at SITC 2025 showed agenT-797 delivering durable clinical benefit in checkpoint-refractory solid tumors, with a median overall survival exceeding 23 months in combination with a PD-1 therapy. The company also secured a collaboration with the C-Further Consortium, providing up to $1.1 million in non-dilutive funding for the PRAME-TCR iNKT program in pediatric oncology. Operationally, MiNK appointed Melissa Orilall as Principal Financial Officer to strengthen financial leadership as the company transitions into a more execution-driven clinical-stage biopharmaceutical entity. The combination of clinical progress, non-dilutive funding inflows, and operational readiness positions MiNK for multiple near-term clinical milestones in 2026.