INKT - MiNK Therapeutics Reports Third Quarter 2023 Results | Benzinga

• MiNK presents first-of-a-kind data with allogeneic iNKTs, agenT-797, showing durable clinical benefit in solid tumor cancers and persistence >6 months without toxic pre-conditioning.
• AgenT-797 demonstrates potential beyond cancer, with improved survival in severe respiratory distress. MiNK plans for expansion in autoimmune and inflammatory diseases.
• Conference Call on Thursday, November 9, 2023, at 8:30 a.m. ET.
  

NEW YORK, Nov. 09, 2023 (GLOBE NEWSWIRE) -- MiNK Therapeutics, Inc. (NASDAQ:INKT), a clinical-stage biopharmaceutical company pioneering the discovery, development, and commercialization of allogeneic, off-the-shelf, invariant natural killer T (iNKT) cell therapies to treat cancer and other immune-mediated diseases, today reported financial results for the third quarter 2023. MiNK executives will host a conference call and webcast at 8:30 a.m. ET to discuss the results and to provide a corporate update.

"This quarter we made important advancements across our iNKT cell platform, including new data that demonstrated the long-term persistence and clinical benefits of iNKTs in heavily pretreated solid tumor cancer patients," said Dr. Jennifer Buell, President and Chief Executive Officer. "We've also progressed our innovative engineered programs, including CARs and TCRs, and made substantial strides expanding our internal cGMP manufacturing, a critical capability to making these novel cells accessible to a broad patient population."

AgenT-797 has shown promising results in patients with late-stage metastatic cancer, including NSCLC, testicular, appendiceal, and gastric cancers, refractory to traditional therapies. More than 30% of these patients experienced disease stabilization or biomarker responses, and a patient with gastric cancer achieved a durable clinical response. This is especially significant, considering agenT-797's administration does not require HLA matching or toxic pre-conditioning, setting a new standard in the field of cell therapy.

A randomized phase 2 clinical trial of agenT-797 +/- standard of care chemotherapy +/- Agenus' botensilimab/balstilimab in patients with 2L gastric cancer is on track to launch this year. The trial will be externally funded and led by Dr. Yelena Janjigian, Chief of Gastrointestinal Oncology at Memorial Sloan Kettering Cancer Center.

Financial Results

We ended the third quarter with a cash balance of $6.4 million as compared to $10.6 million at June 30, 2023, and $19.6 million at December 31, 2022. Cash used in operations for the three and nine months ended September 30, 2023, was $4.2 million, and $12.7 million, respectively, compared to $5.6 million and $14.4 million for the same periods in 2022.

Net loss for the nine-months ended September 30, 2023 was $17 million, or $0.50 per share, compared to net loss for the same period in 2022 of $20.2 million or $0.60 per share.

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