SAN FRANCISCO - MiNK Therapeutics, Inc. (NASDAQ: INKT), a clinical-stage biopharmaceutical company with a current market capitalization of approximately $40 million, specializing in allogeneic, off-the-shelf cell therapies for cancer and immune diseases, announced its presentation at the American Society of Clinical Oncology Gastrointestinal Cancers Symposium today. According to InvestingPro data, the company's stock has shown strong momentum with a 21% return over the past week. The company showcased its Phase 2 trial results involving a novel combination therapy for patients with gastroesophageal cancers.
The trial, conducted at Memorial Sloan Kettering Cancer Center under the identifier NCT06251793, explores the efficacy of a treatment regimen combining agenT-797 (iNKT cells) with botensilimab, balstilimab, ramucirumab, and paclitaxel in patients who have previously undergone at least one line of therapy. Preliminary results from the Phase 1 trial (NCT05108623) indicated promising long-term responses and tolerability among various cancer types, including significant clinical and immunologic responses in gastric cancer patients.
Dr. Jennifer Buell, CEO of MiNK Therapeutics, highlighted the treatment's potential to modify the tumor environment and enhance the immune system's response to cancer. The company anticipates providing further clinical updates from the ongoing Phase 2 study in the latter half of 2025. InvestingPro analysis indicates the company faces financial challenges with a current ratio of 0.89, suggesting careful cash management will be crucial for its development pipeline.
The symposium presentation, titled "A phase II study of agenT-797 (invariant natural killer T-cells), botensilimab (Fc-enhanced CTLA-4 inhibitor) and balstilimab (anti-PD-1) in patients with advanced, refractory gastroesophageal adenocarcinoma," was shared during the Trials in Progress Poster Session A, focusing on gastrointestinal cancers.
MiNK Therapeutics continues to advance its pipeline of native and engineered iNKT programs, aiming to address the challenges of advanced cancers through innovative immunotherapies. The company's approach involves scalable manufacturing processes to ensure consistent and accessible cell therapy options.
Investors and interested parties can find more details on the presentation and ongoing studies on the MiNK Therapeutics website's publications page. This article is based on a press release statement from MiNK Therapeutics.
In other recent news, MiNK Therapeutics announced a reverse stock split of its common stock, a decision supported by a majority of stockholders. The biopharmaceutical company, valued at $34.8 million, has been grappling with financial challenges as evidenced by a negative EBITDA of -$14.07 million in the last twelve months. The reverse stock split, scheduled to take effect at the start of trading on January 28, 2025, arrives after an amendment to the company's Certificate of Incorporation.
In financial developments, MiNK Therapeutics reported a reduced net loss of $1.8 million in its third-quarter 2024 financial results, an improvement from the $5.1 million loss in the same quarter the previous year. This progress was attributed to a nearly 60% year-over-year reduction in operational costs.
In the realm of analysts' views, Baird, a financial firm, recently adjusted its price target for MiNK Therapeutics to $4 from $8 while maintaining an Outperform rating. This adjustment was based on the company's disclosed financials and updates on its research pipeline.
In terms of research and development, MiNK Therapeutics' ongoing gastric cancer trials have seen robust enrollment, with results expected to be presented at an upcoming medical conference. The company's lead program, Agent 797, is showing promising efficacy signals in its Phase 2 trial. Additionally, MiNK Therapeutics is advancing its MiNK-215 program towards an IND, with a trial on graft-versus-host disease planned for the following year.
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