MiNK Therapeutics, Inc. Q1 FY2025 earnings call

• Clinical progress: Presented new data in second-line gastric cancer at AACR IO Conference showing immune activation and early responses in refractory patients; Phase 2 trial of agenT-797 in second-line advanced gastric cancer with promising results; peer-reviewed publication expected on complete response in metastatic testicular cancer patient; advancing 797 in ARDS and GvHD; preparing Phase 1 trial of 797 in GvHD patients. • Cash burn: Reduced operating cash burn by 47% year-on-year, operating efficiently and preserving ability to invest in core programs. • Strategic momentum: Advancing confidential proposals to extend runway and accelerate impact, with three distinct proposals aligned with oncology, immunology/inflammatory conditions, and next-gen pipeline. • Operational efficiency: Continued to reduce operating burn, retain top scientific leaders, and internalize operational execution for more efficient and capital-light operations.

• Expect to advance one or more of the ongoing proposals in the very near-term. • Target to share additional clinical updates on second-line gastric cancer by end of 2025 or early 2026. • Anticipate formal award from NIAID by June 2025 providing critical nondilutive funding for GvHD research.

Q: Regarding the testicular patient, how long after treatment was initiated was the complete response observed?

A: The complete response was formally designated at month 24 after initial treatment of 797. The patient had multiple lesions and showed disease reduction in all lesions including the liver. We'll be doing a further clinical sweep of patients on the trial.

Q: On the Phase 2 gastric trial, is it still on track for initial efficacy data in the second half of 2025?

A: On target to present initial efficacy data, continuing to enroll, with targeting to get something out by end of 2025, latest early 2026.

Q: Any changes or delays in government funding for GvHD?

A: Heard of a six-month delay globally, but received formal notification from NIAID of probable funding and expect formal award by June 2025; NIAID funding is a high priority and our technology is novel for addressing GvHD.

Q: Details on the GvHD trial, including patient enrollment?

A: Phase 1 program for steroid-refractory acute GvHD and prophylaxis for engraftment success and GvHD reduction; both going to regulators for discussion, will choose priority program to advance; exploring other transplant complications in Phase 1 with potential for faster approval in prophylaxis