MiNK Therapeutics Files Q2 2024 10-Q
Ticker: INKT · Form: 10-Q · Filed: Aug 13, 2024 · CIK: 1840229
Sentiment: neutral
Topics: 10-Q, biotech, R&D, corporate-actions
Related Tickers: AGEN
TL;DR
MiNK Therapeutics 10-Q filed. R&D expenses for Atlant Clinical noted. Formerly AgenTus.
AI Summary
MiNK Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported research and development expenses related to Atlant Clinical Ltd. for the first six months of 2024. MiNK Therapeutics was formerly known as AgenTus Therapeutics, Inc., with a name change effective January 12, 2021.
Why It Matters
This filing provides insight into MiNK Therapeutics' ongoing research and development activities and financial reporting for the second quarter of 2024.
Risk Assessment
Risk Level: medium — Biotech companies often carry higher risk due to the nature of drug development and regulatory hurdles.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 20210112 — Name Change Date (Marks the transition from AgenTus Therapeutics, Inc. to MiNK Therapeutics, Inc.)
Key Players & Entities
- MiNK Therapeutics, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- AgenTus Therapeutics, Inc. (company) — Former company name
- 20210112 (date) — Date of name change
- Atlant Clinical Ltd (company) — Entity associated with R&D expenses
- Agenus Inc (company) — Related entity in intercompany service agreement
FAQ
What were the total research and development expenses for Atlant Clinical Ltd. during the six months ended June 30, 2024?
The filing indicates research and development expenses for Atlant Clinical Ltd. for the period from January 1, 2024, to June 30, 2024, but does not provide a specific dollar amount in the provided text.
What is the primary business of MiNK Therapeutics, Inc.?
MiNK Therapeutics, Inc. is in the Biological Products sector, specifically Biological Products (No Diagnostic Substances) [2836].
When did MiNK Therapeutics, Inc. change its name from AgenTus Therapeutics, Inc.?
The name change from AgenTus Therapeutics, Inc. to MiNK Therapeutics, Inc. was effective on January 12, 2021.
What is the fiscal year end for MiNK Therapeutics, Inc.?
The fiscal year end for MiNK Therapeutics, Inc. is December 31.
Is there any mention of an intercompany service agreement with Agenus Inc.?
Yes, the filing mentions a 'NewIntercompanyServiceAgreementMember' with 'AgenusIncMember' for the period of January 1, 2024, to June 30, 2024.
Filing Stats: 4,448 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2024-08-13 16:03:18
Key Financial Figures
- $0.00001 — ch registered Common Stock, par value $0.00001 per share INKT Nasdaq Capital Marke
Filing Documents
- inkt-20240630.htm (10-Q) — 1041KB
- inkt-ex10_1.htm (EX-10.1) — 335KB
- inkt-ex31_1.htm (EX-31.1) — 15KB
- inkt-ex31_2.htm (EX-31.2) — 15KB
- inkt-ex32_1.htm (EX-32.1) — 10KB
- 0000950170-24-096142.txt ( ) — 4643KB
- inkt-20240630.xsd (EX-101.SCH) — 723KB
- inkt-20240630_htm.xml (XML) — 490KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Deficit for the three and six months ended June 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 5 Notes to Unaudited Interim Condensed Consolidated Financial Statements 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 18 Item 4.
Controls and Procedures
Controls and Procedures 18 PART II. OTHER INFORMATION 19 Item 1.
Legal Proceedings
Legal Proceedings 19 Item 1A.
Risk Factors
Risk Factors 19 Item 5. Other Information 19 Item 6. Exhibits 20
—FINANCI AL INFORMATION
PART I—FINANCI AL INFORMATION
Financi al Statements
Item 1. Financi al Statements. MINK THERAPEUTICS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDAT ED BALANCE SHEETS (Unaudited) June 30, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 9,313,668 $ 3,367,229 Prepaid expenses 98,829 53,111 Other current assets 61,144 177,964 Total current assets 9,473,641 3,598,304 Equipment, net of accumulated depreciation of $ 408,951 and $ 495,638 at June 30, 2024 and December 31, 2023, respectively 849,957 953,977 Total assets $ 10,323,598 $ 4,552,281 LIABILITIES AND STOCKHOLDERS' DEFICIT Accounts payable $ 3,202,146 $ 3,911,973 Accrued liabilities 4,626,711 5,037,361 Other current liabilities 2,318,502 2,453,251 Total current liabilities 10,147,359 11,402,585 Related party note 4,405,703 — Other long-term liabilities 23,280 48,072 Due to related parties 12,323,399 11,157,073 Commitments and contingencies STOCKHOLDERS' DEFICIT Common stock, par value $ 0.00001 per share; 150,000,000 shares authorized; 39,445,520 and 34,599,119 shares issued at June 30, 2024 and December 31, 2023, respectively 394 346 Additional paid-in capital 123,946,872 115,772,085 Accumulated other comprehensive loss ( 611,375 ) ( 430,947 ) Accumulated deficit ( 139,912,034 ) ( 133,396,933 ) Total stockholders' deficit ( 16,576,143 ) ( 18,055,449 ) Total liabilities and stockholders' deficit $ 10,323,598 $ 4,552,281 See accompanying notes to unaudited condensed consolidated financial statements. 1 MINK THERAPEUTICS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating expenses: Research and development $ 1,839,874 $ 4,558,430 $ 4,389,355 $ 8,751,992 General and administrative 1,061,793 1,784,914 2,342,226 3,445,4