Start here if you're new
what it is
MiNK builds ready-made immune cell therapies and related cancer tools.
how it gets paid
Last year Mink Therapeutics made $173K in revenue. AGENT-797 collaboration was the main engine at $69K, or 40% of sales.
what just happened
The latest quarter brought $69K of revenue and a $2.39 loss per share.
At a glance
C++ balance sheet — some cracks in the foundation
25/100 earnings predictability — expect surprises
-$2.86 fy2024 eps est
n/a operating margin
1.7 beta
xvary composite: 31/100 — weak
What they do
MiNK builds ready-made immune cell therapies and related cancer tools.
MiNK's edge is small and weird. It has 23 employees and an off-the-shelf iNKT platform, which means donor-made cells can be shipped ready instead of custom-built. AGENT-797 is already in a randomized Phase 2 trial, so your payoff depends on one program moving before the cash runs out.
How they make money
$173K
annual revenue
AGENT-797 collaboration
$69K
+25.0%
research grants
$52K
0.0%
platform licensing
$30K
0.0%
other contract revenue
$22K
0.0%
The products that matter
engineered cell therapy platform
iNKT cell platform
$173K current revenue base
it supports essentially 100% of the investment case, yet the company produced only $173K in annual revenue. this is still a science project with a ticker.
platform bet
IND-enabling oncology program
PRAME-TCR-iNKT program
~$1.1M non-dilutive support
this program received roughly $1.1M in non-dilutive funding for IND-enabling work. useful money, but not enough to remove company-level financing risk.
early catalyst
clinical pipeline optionality
broader iNKT pipeline
$46M equity value
the market is assigning roughly $46M of value to a pipeline with almost no current revenue. if clinical data disappoints, there is not much operating business underneath to catch you.
binary outcome
Key numbers
$173K
annual revenue
That is $173K of sales against a $46M market cap. You are paying for a pipeline, not a business.
-$2.86
FY2024 EPS
EPS → profit per share → so what: each share lost $2.86 in 2024, which is ugly next to almost no revenue.
1.7
beta
Beta → how much the stock swings → so what: 1.7 means you get about 70% more wobble than the market.
5/100
price stability
Price stability → how calm the stock is → so what: 5 out of 100 means the chart moves like it owes someone money.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for INKT right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The latest quarter brought $69K of revenue and a $2.39 loss per share.
Revenue was up 25% vs. prior year, but the base is tiny. Losses widened 268% from a year earlier.
$69K
revenue
-$2.39
eps
n/a
n/a
revenue
The $69K quarter matters because it is tiny next to the $46M market cap.
source: company earnings report
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What could go wrong
the #1 risk is running out of cash before meaningful iNKT clinical data arrives.
med
financing risk
You are starting from a single-digit million cash balance while the company generates only $173K in annual revenue. That is not enough operating support for a clinical-stage burn profile.
A raise would likely matter more to the stock near term than any small change in revenue because dilution risk sits at the center of the story.
med
clinical translation risk
The bull case assumes engineered iNKT cells will turn promising biology into human efficacy. Right now, the company still looks pre-revenue in economic terms.
If the science does not translate, the market can compress a roughly $46M equity value fast because there is little current business underneath it.
med
legal and governance overhang
Agenus identifies miNK as a former subsidiary and notes a potential legal proceeding. For a company this small, even non-core distractions can matter.
Legal cost, management distraction, or reputational drag would land harder here than at a larger biotech with a deeper balance sheet.
With $173K in annual revenue and a single-digit million cash balance, almost all of the equity story depends on outside funding and clinical progress.
source: institutional data · regulatory filings · risk analysis
Pay attention to
timeline
PRAME-TCR IND-enabling milestones
The roughly $1.1M non-dilutive support matters because it keeps this program moving. If you stop getting timeline updates, the market will assume slippage.
financing
cash moving from single-digit millions to something sturdier
This is the cleanest kill switch for the bear case. If funding arrives without brutal dilution, the balance sheet argument weakens immediately.
trading
volume spikes around data or financing headlines
The 52-week range of $6–$76 already told you this stock can reprice violently. Thin coverage amplifies every headline.
proof point
anything that makes $173K stop being the defining number
A partnership, a cleaner funding package, or meaningful human data would all help. Until then, the operating base is too small to carry the valuation on its own.
Analyst rankings
earnings predictability
25 / 100
The reported numbers can swing hard because there is no stable operating base. in human-speak, you should expect lumpy updates rather than a clean trend.
beta
1.7
Beta measures how much a stock moves relative to the market. At 1.7, INKT has historically moved more than the index, and biotech headlines add their own chaos.
source: institutional data
Institutional activity
institutional ownership data for INKT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$13
current price
n/a
target midpoint · n/a from current
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