MiNK Therapeutics Corporate Update and First Quarter 2022 Financial Report
- Clinical updates from solid tumor cancers and ARDS with allo-agenT-797 are on track for 2H 2022
- GMP manufacturing launch in 1H 2022 with target 10,000 doses/yr
- BCMA-CAR-iNKT and stromal-CAR-iNKT preclinical results 2H 2022
- Ended First Quarter with
$34.7Min cash with a projected 2022 cash burn of $16.8M
“MiNK has made important progress in advancing our ongoing clinical programs, manufacturing platform, and differentiated pipeline,” said
Recent Business Progress and Future Milestones
AgenT-797 +/- CPIs in Solid Tumors:
- Phase 1 study evaluating agenT-797, without lymphodepletion, alone and in combination with approved anti-PD-1 in solid tumor cancers has cleared early dose cohorts and is in expansion cohorts. On track for data readouts in 2H 2022.
AgenT-797 in Multiple Myeloma:
- Accrual continues in phase 1 study of agenT-797, without lymphodepletion, in relapsed/refractory multiple myeloma. Completed early dose cohorts with early biomarker signals of activity and no dose limiting toxicities. Data updates on track for 2H 2022.
Acute respiratory distress syndrome (ARDS) program:
- Phase 1/2 expansion initiated and underway evaluating agenT-797 in severe ARDS secondary to COVID-19 and influenza.
Next generation iNKT platforms (iNKT engagers, CAR-iNKT platforms, TCRs):
- IND enabling studies underway for BCMA-CAR-iNKT and stromal targeting CAR-iNKT (undisclosed target). Presentation of preclinical data planned for 2H 2022.
- Advancing differentiated and novel programs for TCRs (IND ready program) and iNKT cell engagers.
MiNK Internal Manufacturing Capabilities Ready for GMP Launch:
- Launched automated closed system manufacturing process in-house for high yield iNKT production. In-house manufacturing preparing to launch GMP production to support internal clinical supply in 2022.
Fourth Quarter and Full Year 2021 Financial Results
Cash used in operations for the three-months ended
We ended the first quarter 2022 with a cash balance of
Net loss for the quarter ended
|Summary Consolidated Financial Information|
|Condensed Consolidated Balance Sheet Data|
|Cash and cash equivalents||$||34,688||$||38,889|
|Total stockholders' equity||17,308||23,776|
|Other Financial Information|
|Three months ended
|Cash used in operations||$||4,196||$||4,209|
|Condensed Consolidated Statements of Operations Data|
|(in thousands, except per share data)|
|Three months ended
|Research and development||5,277||3,097|
|General and administrative||2,097||595|
|Change in fair value of convertible affiliated note (non-cash)||-||(684||)|
|Other expense (income), net||403||838|
|Per common share data, basic and diluted:|
|Weighted average number of common shares outstanding, basic and diluted||33,504||24,177|
This release contains forward-looking statements. You can identify these forward-looking statements by the fact they use words such as “could,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “intend,” “plan,” “believe,” “will,” “potential,” “opportunity,” “future” and other words and terms of similar meaning and include statements that they do not relate strictly to historical or current facts. In particular, these statements relate to, among other things, our business strategy, our research and development, our product development efforts, uncertainty regarding our future operating plans, results, objectives, expectations, and intentions. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes to differ materially from current expectations. Therefore, we caution investors such statements need to be evaluated in light of all the information contained in our filings with the
Source: MiNK Therapeutics