INKT - Mink Therapeutics sinks nearly 35% to post-IPO low as biotech sheds 65.8% in six sessions

Mink Therapeutics (NASDAQ:INKT) plummeted more than 40% intraday Monday to a post-IPO low, falling on Wall Street’s apparent lack of enthusiasm for biotech names coupled with continued fallout from last week’s poorly received quarterly results. INKT sank as much as 41.1% intraday to $6.17 before partly recovering to close 34.6% lower at $6.85, its worst showing since going public in October. The stock has shed 42.9% from its $12-a-share IPO price. Mink (INKT) has fallen 69.1% in less than five weeks since peaking at $22.16 intraday on Nov. 1. In fact, the stock has fallen 65.8% in the little more than a week since shares closed Nov. 26 at $20.01 just prior to INKT’s latest earnings release. The biotech reported that its comprehensive loss doubled year over year to $13.7M in the three months ended Sept. 30: Mink (INKT) also said that its cash on hand falling 69.6% in the

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Mink Therapeutics sinks nearly 35% to post-IPO low as biotech sheds 65.8% in six sessions