The following is a summary of the MiNK Therapeutics, Inc. (INKT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• MiNK Therapeutics managed to reduce its operating expense by over 45% owing to enhanced manufacturing efficiency, strategic infrastructure alignment, and non-dilutive external financing for ongoing Phase II trials.

• They have successfully attracted an investment of $5.8 million from a new investor, securing a 25% premium for their MiNK-215 program.

• As of Q1 2024, the company reported a net loss of $3.8 million, with a cash balance of $5.8 million before the new investment and $2.5 million used in operations for the three month period ending on March 31, 2024.

Business Progress:

• Significant progress was noted in two of MiNK Therapeutics' major programs - AgenT-797 and MiNK-215. Positive preliminary data from the studies on MiNK-215 have shown promising results against FAP solid tumors.

• The company initiated a Phase II investigator-sponsored trial for AgenT-797 and is working on a Phase II trial in severe respiratory distress.

• MiNK-215 has shown monotherapy activity, especially against FAP suppressing tumors and there has been a notable infiltration of T cells within the tumor microenvironment in preclinical models.

• The company is also exploring potential combinations, particularly with BOT/BAL, in areas where non-responsiveness to PD-1 CTLA-4 has been observed.

• MiNK Therapeutics is committed to advancing clinical programs, fortifying their financial foundation and striving to deliver innovative medicines for patients with cancer and other immune mediated diseases.

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