MiNK Therapeutics Eyes Late-Stage Catalysts, Phase II Gastric Cancer Data by 2025 Amid Expansion of Partnerships.

MiNK Therapeutics has outlined multiple late-stage catalysts and plans to report Phase II gastric cancer data by end of 2025. The company continues to expand partnerships and is the most clinically advanced in the off-the-shelf, invariant natural killer T cells space, according to CEO Jennifer S. Buell.

MiNK Therapeutics, Inc. (INKT) has outlined multiple late-stage catalysts and is set to report Phase II gastric cancer data by the end of 2025. The company continues to expand its partnerships and remains the most clinically advanced in the off-the-shelf, invariant natural killer T cells (iNKT) space, according to CEO Jennifer S. Buell.

During the Q2 2025 earnings call, Buell highlighted significant clinical and financial milestones achieved by MiNK. The company has extended its runway beyond mid-2026 through deliberate burn rate reduction, streamlined operations, and strategic integration of high-impact funding. Notably, a complete clinical response in a 49-year-old man with metastatic testicular cancer, whose durable remission was recently published in Nature's Oncogene, demonstrates the efficacy of MiNK's iNKT therapies. Additionally, a greater than 40% tumor shrinkage in a refractory gastric cancer patient has prompted an ongoing Phase II trial at Memorial Sloan Kettering Cancer Center.

MiNK has also reported a reduced Q2 operating cash burn by over 30% year-over-year, reflecting operational efficiencies. The company's cash balance at the end of the quarter was $1.7 million, and it has since strengthened its financial position by raising an additional $13 million through equity sales. This additional funding extends the company's cash runway through the middle of next year, providing a solid foundation to advance its programs and execute on upcoming milestones.

Key catalysts ahead for MiNK include top line data from the Phase II gastric cancer trial by the end of 2025, the initiation of the GvHD Phase I trial, and further advancement of the MiNK-215 engineered iNKT program. The company anticipates that the GvHD and ARDS programs will advance with minimal capital impact due to Department of Defense (DoD) funding for the STTR grant and supportive funding from the University of Wisconsin Cancer Center grants.

The company's financial results for the second quarter 2025 showed a net loss of $4.2 million or $1.06 per share, compared to $2.7 million or $0.73 per share for the same period in 2024. For the first six months of 2025, net loss was $7 million or $1.76 per share, compared to $6.5 million or $1.82 per share for the same period last year. The operating cash burn for Q2 was reduced by over 30% year-over-year.

Management's outlook is positive, with a focus on operational discipline, scientific milestones, and partnership momentum. The company is well positioned to advance multiple programs in parallel while preserving shareholder value.

References:
[1] https://seekingalpha.com/news/4485675-mink-therapeutics-outlines-multiple-late-stage-catalysts-and-targets-phase-ii-gastric-cancer
[2] https://newsroom.ucla.edu/stories/immunotherapy-ovarian-cancer-ucla-scientists-develop