Release Date: August 13, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- MiNK Therapeutics Inc (INKT, Financial) has made significant progress in reducing its operating burn by over 50% from the previous year, primarily through internalization of key activities.
- The company is advancing its lead program, AgenT-797, in a Phase 2 trial for second-line gastric cancer and acute respiratory distress syndrome (ARDS), showing promising early results.
- MiNK Therapeutics Inc (INKT) has secured substantial external funding, including a commitment of nearly $120 million from BARDA for a Phase 2 program in ARDS.
- The company is launching a Phase 1 trial in steroid-refractory acute graft versus host disease (GvHD), supported by external funding, indicating strong interest and support for its therapies.
- MiNK Therapeutics Inc (INKT) is actively pursuing non-dilutive funding sources and strategic partnerships to maintain financial health and accelerate therapy development.
Negative Points
- Despite progress, MiNK Therapeutics Inc (INKT) faces the challenge of addressing critical unmet medical needs in conditions with high mortality rates, such as ARDS and second-line gastric cancer.
- The company reported a net loss of $2.7 million for the quarter, reflecting ongoing financial challenges despite reductions in operating expenses.
- MiNK Therapeutics Inc (INKT) has a limited cash balance of $9.3 million, which may necessitate further funding to sustain operations and development efforts.
- The company is still in the early stages of clinical trials for several programs, including MiNK-215, which may delay potential market entry and revenue generation.
- There is uncertainty regarding the regulatory pathway and market acceptance for its innovative iNKT cell therapies, which could impact future success.
Q & A Highlights
Q: Jen, can you confirm if the GvHD study will be funded with external capital? Also, can you provide more context on the early signs of activity in the gastric cancer study?
A: Yes, the GvHD program will be supported by external funding. Regarding the gastric cancer study, we are seeing exciting signals of clinical benefit that exceed expectations with standard chemotherapy alone. However, detailed results will be presented at a conference by Dr. Janjigian.
Q: Can you remind us about the different cohorts in the gastric cancer study and any comments on patient enrollment? Also, any details on the size and initial data timeline for the GvHD trial?
A: The gastric cancer study includes cohorts for iNKT as induction, iNKT with standard chemo, and iNKT with BOT/BAL and chemo. The GvHD trial will activate this year, with data expected in the second half of 2025. It will focus on response rates and mitigation within a 28-day window.
Q: Could you discuss the combination work with T-cell engagers and the 215 IND filing plans?
A: For 215, we are finalizing preclinical data to identify effective starting doses and patient populations. Manufacturing will be in-house. Regarding T-cell engagers, combining them with iNKT cells like AgenT-797 could enhance efficacy in solid tumors without lymphodepletion.
Q: Can you provide more details on the dosing schemes for the GvHD trial?
A: We plan to target a dose of 1 billion cells, potentially exploring single and multiple doses. We aim for a homogeneous population to accelerate development into a randomized Phase 2 trial.
Q: What is the strategy for securing additional non-dilutive funding and partnerships?
A: Partnering is core to our strategy to expand our global presence and accelerate cell therapy development. We are in active discussions with pharma groups interested in our technology, particularly in autoimmunity, GvHD, and respiratory diseases.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
