$INKT

MiNK Therapeutics, Inc.

CIK:0001840229|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 1,887,168	$ 1,839,176	$ 3,091,258	$ 3,101,077
General and administrative	1,329,726	1,849,130	3,007,423	3,119,994
Change in fair value of related party note	0	364,090	0	532,012
Operating loss	(3,216,894)	(4,052,396)	(6,098,681)	(6,753,083)
Other income (expense), net:
Interest income, net	72,884	348	153,717	13,865
Other income (expense), net	15,809	(185,703)	74,394	(265,230)
Net loss	$ (3,128,201)	$ (4,237,751)	$ (5,870,570)	$ (7,004,448)
Per common share data:
Basic net loss per common share	$ (0.62)	$ (1.06)	$ (1.2)	$ (1.76)
Diluted net loss per common share	$ (0.62)	$ (1.06)	$ (1.2)	$ (1.76)
Weighted average number of common shares outstanding, basic	5,023,450	3,981,992	4,911,265	3,973,534
Weighted average number of common shares outstanding, diluted	5,023,450	3,981,992	4,911,265	3,973,534
Other comprehensive income (loss):
Foreign currency translation gain (loss)	$ (2,466)	$ (56,877)	$ 19,024	$ (87,742)
Comprehensive loss	$ (3,130,667)	$ (4,294,628)	$ (5,851,546)	$ (7,092,190)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (5,870,570)	$ (7,004,448)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	72,130	99,528
Share-based compensation	1,052,588	1,487,641
Loss on disposal of assets		167,103
Change in fair value of related party note	0	532,012
Interest accrued on related party note		49,722
Changes in operating assets and liabilities:
Prepaid expenses	(1,143)	(27,452)
Accounts payable	494,301	577,453
Accrued liabilities and other current liabilities	(39,622)	84,280
Other operating assets and liabilities	476,907	1,124,067
Net cash used in operating activities	(3,815,409)	(2,910,094)
Cash flows from financing activities:
Net proceeds from sale of equity	4,385,682
Repayment of related party note	(5,000,000)
Proceeds from employee stock purchases and option exercises	131,410	1,116
Payment for shares to satisfy tax withholdings	(251,768)
Net cash provided by (used in) financing activities	(734,676)	1,116
Effect of exchange rate changes on cash	(3,278)	13,853
Net decrease in cash and cash equivalents	(4,553,363)	(2,895,125)
Cash and cash equivalents, beginning of period	13,360,340	4,577,040
Cash and cash equivalents, end of period	8,806,977	1,681,915
Supplemental cash flow information:
Cash paid for interest	6,238	$ 5,695
Employee Bonus
Supplemental disclosures - non-cash activities:
Issuance of common stock, $0.00001 par value, for payment of certain employee bonuses	$ 481,229

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 8,806,977	$ 13,360,340
Prepaid expenses	277,573	276,431
Other current assets	212,218	211,202
Total current assets	9,296,768	13,847,973
Equipment, net of accumulated depreciation of $647,801 and $612,245 at March 31, 2026 and December 31, 2025, respectively	318,474	390,869
Total assets	9,615,242	14,238,842
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable	3,918,739	3,425,314
Accrued liabilities	1,195,746	1,579,147
Related party note	0	5,179,444
Other current liabilities	2,454,258	2,847,543
Total current liabilities	7,568,743	13,031,448
Due to related parties	16,074,795	15,435,053
Commitments and contingencies
STOCKHOLDERS' DEFICIT
Common stock, par value $0.00001 per share; 150,000,000 shares authorized; 4,968,794 and 4,706,246 shares issued at March 31, 2026 and December 31, 2025, respectively	52	48
Additional paid-in capital	149,218,108	143,167,204
Accumulated other comprehensive loss	(699,892)	(718,916)
Accumulated deficit	(162,546,564)	(156,675,995)
Total stockholders' deficit	(14,028,296)	(14,227,659)
Total liabilities and stockholders' deficit	$ 9,615,242	$ 14,238,842