MiNK Therapeutics, Inc.
- Open
- 11.88
- Day high
- 12.26
- Day low
- 11.61
- Prev close
- 11.91
- Volume
- 7K
- Mkt cap
- $57M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -4.5
- P/S
- —
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$19K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions reducing (13F)
MiNK Therapeutics, Inc. (INKT) is a Healthcare company listed on NASDAQ. The stock is up 59% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
MiNK Therapeutics, Inc. (INKT) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
INKT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 15, 2026 | $-0.77 | $-0.57 | +26.0% | — | — |
| Nov 14, 2025 | $-0.86 | $-0.65 | +24.4% | — | — |
| Aug 14, 2025 | $-0.55 | $-1.06 | -92.7% | — | — |
| May 15, 2025 | $-0.61 | $-0.70 | -14.8% | — | — |
| Mar 18, 2025 | $-0.50 | $-0.62 | -24.0% | — | — |
| Nov 14, 2024 | $-0.80 | $-0.50 | +37.5% | — | — |
| Mar 21, 2024 | $-1.50 | $-1.60 | -6.7% | $-11.7B | — |
| Nov 9, 2023 | $-1.80 | $-1.50 | +16.7% | — | — |
| Aug 10, 2023 | $-1.90 | $-1.80 | +5.3% | — | — |
| May 11, 2023 | $-2.40 | $-1.70 | +29.2% | $11.7B | — |
| Mar 21, 2023 | $-2.10 | $-2.30 | -9.5% | $2.7B | — |
| Nov 3, 2022 | $-2.30 | $-1.90 | +17.4% | $1.6B | — |
INKT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 5, 2026 | Ryan Barbaradirector | Sell | 500 | $12.68 |
| Jun 5, 2026 | Ryan Barbaradirector | Sell | 1,000 | $12.80 |
| Jun 2, 2026 | WIINBERG ULFdirector | Grant | 1,285 | $10.90 |
| Jun 2, 2026 | WIINBERG ULFdirector | Grant | 1,131 | $12.38 |
| Jun 2, 2026 | Holcomb John Bradleydirector | Grant | 1,239 | $10.90 |
| Jun 2, 2026 | Holcomb John Bradleydirector | Grant | 1,091 | $12.38 |
| Jun 2, 2026 | Ryan Barbaradirector | Grant | 1,629 | $10.90 |
| Jun 2, 2026 | Ryan Barbaradirector | Grant | 1,434 | $12.38 |
| Jun 2, 2026 | Corvese Briandirector | Grant | 1,640 | $10.90 |
| Jun 2, 2026 | Corvese Briandirector | Grant | 1,444 | $12.38 |
| Jun 2, 2026 | Behner Peterdirector | Grant | 1,491 | $10.90 |
| Jun 2, 2026 | Behner Peterdirector | Grant | 1,313 | $12.38 |
| Apr 30, 2026 | Holcomb John Bradleydirector | Grant | 4,174 | $14.92 |
| Mar 11, 2026 | Ryan Barbaradirector | Sell | 200 | $10.17 |
| Mar 11, 2026 | Ryan Barbaradirector | Sell | 300 | $15.28 |
Source: INKT SEC Form 4 filings, latest Jun 5, 2026. For informational purposes only — not investment advice.
See the full INKT insider & 13F page →MiNK Therapeutics, Inc. company profile
Overview
MiNK Therapeutics, Inc. (NASDAQ:INKT) is a clinical-stage biopharmaceutical company founded in 2017 and based in New York, New York. Originally incorporated as AgenTus Therapeutics, Inc., the company went public in October 2021 and operates as a subsidiary of Agenus Inc. MiNK specializes in developing innovative cancer immunotherapies using a unique type of immune cell called invariant natural killer T (iNKT) cells, positioning itself at the forefront of next-generation cell therapy development.
Business
MiNK Therapeutics operates in the cell therapy segment of biotechnology, specifically focusing on allogeneic, off-the-shelf invariant natural killer T (iNKT) cell therapies. To understand what this means, it's important to know that traditional cell therapies often require extracting a patient's own immune cells, modifying them in a laboratory, and then reinfusing them back into the same patient - a process that is time-consuming, expensive, and logistically complex. MiNK's approach is fundamentally different. Invariant natural killer T cells are a rare but powerful subset of immune cells that can recognize and attack cancer cells while also activating other parts of the immune system. The company's "allogeneic" approach means they can harvest these cells from healthy donors and use them to treat multiple patients, creating an "off-the-shelf" product that doesn't require individualized manufacturing for each patient. The company's lead product candidate is AGENT-797, which is currently in Phase 1 and Phase 2 clinical trials for treating various cancers, particularly multiple myeloma and gastric cancer. Unlike many other cell therapies that require harsh pre-conditioning treatments to suppress the patient's immune system, AGENT-797 can be administered without lymphodepletion, potentially reducing treatment-related complications. Beyond oncology, MiNK is exploring applications in immune-mediated diseases, including acute respiratory distress syndrome (ARDS) and graft-versus-host disease (GvHD). The company is also developing next-generation engineered iNKT cell therapies, including CAR-iNKT (chimeric antigen receptor-modified iNKT cells) and TCR-iNKT (T cell receptor-modified iNKT cells) programs that could target specific cancer antigens more precisely.
Revenue model
MiNK Therapeutics currently generates no revenue as it remains in the clinical development stage. The company's future business model will likely center on product sales of its cell therapy treatments to hospitals and cancer treatment centers, with potential additional revenue from licensing agreements and strategic partnerships. The paying customers will primarily be healthcare institutions, including hospitals, cancer centers, and specialized treatment facilities that administer cell therapies to patients. Given the complexity and cost of cell therapy treatments, reimbursement will likely come through insurance providers and government healthcare programs, similar to other approved cell therapies that can cost hundreds of thousands of dollars per treatment. Several factors could significantly impact MiNK's future margins and commercial success. Positive factors include the company's off-the-shelf manufacturing approach, which could provide substantial cost advantages over patient-specific cell therapies, and their ability to dose patients without lymphodepletion, potentially reducing hospitalization costs and improving patient outcomes. The company has also internalized its manufacturing process and developed automated, closed-system production capabilities that could generate over 5,000 doses per year from a single facility. Challenging factors include intense competition in the cell therapy space from both established pharmaceutical companies and emerging biotechs, regulatory hurdles that could delay or prevent approval, and the inherent risks of clinical trial failures. Manufacturing scale-up challenges, reimbursement difficulties, and the high costs associated with clinical development and commercialization could also pressure margins. Additionally, as a subsidiary of Agenus Inc., MiNK's strategic flexibility may be somewhat constrained by its parent company's priorities and financial situation.
Competitive moat
MiNK Therapeutics' competitive moat appears relatively narrow at this stage, typical of early-stage biotechnology companies. The company's primary potential advantages lie in its proprietary iNKT cell platform technology and its off-the-shelf manufacturing approach, which could provide cost and logistical benefits over autologous (patient-specific) cell therapies. The company has developed specialized expertise in iNKT cell biology and manufacturing, including FDA-cleared automated production processes and the ability to generate billions of cells from single donors. Their approach of administering cells without lymphodepletion could represent a meaningful clinical advantage if proven safe and effective in larger trials. Additionally, MiNK has built intellectual property around their iNKT cell therapies and manufacturing processes. However, the moat faces significant challenges. The cell therapy field is highly competitive, with major pharmaceutical companies like Bristol Myers Squibb, Gilead, and Novartis having substantial resources and established CAR-T cell franchises. Potential disruption could come from competing allogeneic cell therapy approaches, including other companies developing off-the-shelf NK cell, T cell, or other immune cell therapies. Companies like Allogene Therapeutics, Fate Therapeutics, and others are pursuing similar strategies with different cell types. The regulatory pathway for cell therapies remains complex and expensive, and clinical trial failures could quickly erode any competitive advantages. Furthermore, as a small company with limited resources, MiNK faces execution risks in manufacturing scale-up, clinical development, and eventual commercialization that larger, better-funded competitors may navigate more successfully.
Risks & safety
MiNK Therapeutics presents significant financial risk with very limited margin of safety for investors. • Cash burn and solvency risk: With only $3.2 million in cash as of Q1 2025 and quarterly operating cash burn of $1.3 million, the company has extremely limited runway - potentially less than 3 quarters at current burn rates. Total current liabilities of $12.1 million far exceed current assets of $3.6 million, creating a current ratio of just 0.30. • Debt and capital structure: The company carries $26.1 million in total liabilities against just $4.3 million in total assets, resulting in negative shareholders' equity. While there appears to be no traditional debt, the company's liabilities likely include obligations to its parent company Agenus. • Valuation metrics: With no revenue and massive losses, traditional valuation metrics are not meaningful. The company trades at a significant discount to book value, but this reflects the dire financial condition rather than an attractive investment opportunity. • Other considerations: As a subsidiary of Agenus Inc., MiNK's survival may depend on continued financial support from its parent company. The company is actively seeking partnerships and non-dilutive funding, but success is uncertain. Clinical trial failures or delays could quickly exhaust remaining resources.
Recent development
Over the past few years, MiNK Therapeutics has made several strategic pivots and developments to advance its iNKT cell therapy platform. The company has successfully internalized its manufacturing capabilities, developing FDA-cleared automated production processes that can generate over 5,000 doses annually from a single facility. This represents a significant operational achievement that could provide cost advantages and supply chain control. Clinically, MiNK has advanced its lead program AGENT-797 into Phase 2 trials for gastric cancer while continuing to explore applications in multiple myeloma, acute respiratory distress syndrome (ARDS), and graft-versus-host disease (GvHD). The company has demonstrated that its therapy can be administered without lymphodepletion, potentially offering safety advantages over competing cell therapies. Recent clinical data has shown promising signals, including a complete response in a metastatic testicular cancer patient and encouraging survival rates in ARDS patients. The company has expanded its pipeline beyond its native iNKT cell therapy to include next-generation engineered approaches. This includes the development of CAR-iNKT therapies (MiNK-215 targeting FAP-expressing tumors) and TCR-iNKT programs targeting intracellular tumor antigens like PRAME. MiNK has also entered strategic collaborations, including partnerships with Autonomous Therapeutics for encrypted RNA technology and ImmunoScape for neoantigen discovery. Financially, the company has focused on operational efficiency, reducing cash burn by approximately 47% year-over-year while maintaining key scientific leadership. Management has actively pursued non-dilutive funding sources, including potential government grants from NIAID, and is exploring multiple partnership opportunities across oncology, immunology, and next-generation pipeline development.
INKT company profile · for informational purposes only — not investment advice.
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