Analyst Conference Summary

biotechnology

conference date: March 18, 2025 @ 5:30 AM Pacific Time
for quarter ending: December 31, 2024 (fourth quarter, Q4)

Forward-looking statements

Overview: Continues to make progress with clinical trials, but very low on cash.

Basic data (GAAP):

Revenue was zero.

Net income, diluted, was negative $ million, up sequentially from negative $1.8 million, and up from negative $ million year-earlier.

EPS (earnings per share), diluted, was negative $, up sequentially from negative $0.05, and up from negative $ year-earlier.

Guidance:

Cash runway into 2025.

Conference Highlights:

Dr. Jennifer Buell, President and CEO of MiNK said: "" Working on getting more external financial support.

In Q4 2024 MiNK entered into a research collaboration withAutonomous Therapeutics, a pioneer in disease-activated RNA medicines, to treat metastatic tumors. The collaboration combines Autonomous encrypted RNA (encRNA) technology with MiNK iNKT cell therapies, MiNK-215 and agenT-797, to develope therapies for metastatic cancer cells.

AgenT-797 demonstrated enhanced activity of checkpoint inhibitors and bispecific engagers at the Society for Cancer Immunotherpay (SITC) 2024 annual meeting in November.

At SITC 2024, in November, a presentation of "PRAME-targeted TCR iNKT cell therapy showcased the potential to address limitations of traditional T cell therapies in targeting solid tumors such as NSCLC, ovarian cancer, melanoma, and sarcoma. Preclinical studies indicate that PRAME-TCR-iNKTs can specifically target and kill tumor cells." Can be administered without lymphodepletion. Highly scalable.

AgenT-797 launched an investigator-sponsored Phase 2 trial in 2L gastric cancer in Q4 2023, at Memorial Sloan Kettering, funded by non-dilutive grants. Includes 797 with standard of care chemo, plus 797 + chemo + bot/bal. This is funded by Stand Up to Cancer. Initial data will be presented at an early 2025 conference.

AgenT-797 Phase 1 trial in GvHD (graft v. host disease) should start in 2025. Has external financial support. Will also conduct further pre-clinical studies.

MiNK-215, a novel FAP-CAR-iNKT, presented preclinical data at AACR in MSS colorectal cancer liver metastases in April 2024. MiNK-215 IND filing planned for early 2025. FAP is often found on cancer cells but rarely on healthy cells. The $5.8 million investor cash raised in May 2024 is specifically for funding MiNK-215.

MiNK-413, is a differentiated FAP allogeneic armored-BCMA-CAR-iNKT, in preclinical development.

Partnership with ImmunoScape is underway to develop T-cell receptors to tumor antigens. Our iNKT hosts should be ideal for these PCRs.

Mink Therapeutics ended the quarter with a cash balance of $ million, down sequentially from $6.3 million. $ million cash used in operations.

Operating expenses were $1.9 million, consisting of: R&D $ million; G&A $ million. Change in fair value $ million. Other expense $ million.

Q&A selective summary:

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