The early Phase 2 data and named-patient access program are positive catalysts but the stock remains a binary bet on the C-1300-02 trial outcome. With only $8.8M cash and no revenue, monitor cash runway closely — the next catalyst is additional Phase 2 data expected early 2027. The improved expense discipline is a modest positive but does not change the fundamental risk profile.
Price Chart
Executive Summary
MiNK Therapeutics reported Q2 2026 net loss of $3.1M ($0.62/share), improving from $4.2M ($1.06/share) in Q2 2025, with cash burn slowing to $0.7M from $9.5M to $8.8M. The key catalyst is the randomized Phase 2 trial of agenT-797 in acute lung injury showing early positive Day 28 signals, plus the first paid named-patient access program in Brazil establishing a potential revenue stream. The stock has historically shown strong positive drift at T+20 (80% win rate, +7.66% avg) on prior filings, but this is a pre-revenue clinical-stage biotech with only $8.8M cash — the clinical data is early and the financials show continued losses, making the risk/reward binary on upcoming data.
Key Financial Metrics
Key Facts
- Net loss improved to $3.1M in Q2 2026 from $4.2M in Q2 2025, a 26% reduction
- Cash and equivalents $8.8M as of June 30, 2026, down from $9.5M at March 31, 2026
- First patients in randomized Phase 2 trial C-1300-02 for agenT-797 in acute lung injury were alive at Day 28 with improved oxygenation and ventilator liberation
- First paid international named-patient access program established in Brazil for agenT-797
- U.S. clinical site activation underway for the Phase 2 trial; additional data expected early 2027
- EPS of -$0.62 vs -$1.06 in prior year quarter; no consensus estimate provided for Q2 2026
Financial Impact
Net loss improved by $1.1M YoY to $3.1M; cash burn of $0.7M in Q2 2026 vs $4.6M in Q1 2026; cash runway at current burn rate approximately 12 months
Risk Factors
- Cash runway limited to ~12 months at current burn rate, likely requiring additional financing
- Phase 2 data is from a small number of patients in an ongoing blinded trial — early observations may not be predictive of final results
- Named-patient access program revenue is uncertain and subject to per-patient regulatory authorization
- No approved products or revenue from commercial sales
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-347907 |
| Document: inkt-20260813.htm | 0001193125-26-347907 |
| Document: 0001193125-26-347907-index-headers.html | 0001193125-26-347907 |
| Document: 0001193125-26-347907-index.html | 0001193125-26-347907 |
| Document: 0001193125-26-347907.txt | 0001193125-26-347907 |
| 8-K Data (Synthetic) | 0001193125-26-347907 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 7w ago | 8-K | $11.00 $12.00 | ▲ +9.09% | ▲ +10.84% | $12.44 (+13.09%) |
Aug 13, 2026 7w ago | Press Release | $11.00 $12.00 | ▲ +9.09% | ▲ +10.84% | $12.44 (+13.09%) |
Aug 6, 2026 8w ago | Press Release | $11.00 $11.23 | ▲ +2.09% | ▲ +1.49% | $12.44 (+13.09%) |
May 28, 2026 18w ago | Press Release | $12.20 $11.64 | ▼ −4.59% | ▼ −1.45% | $12.44 (+1.97%) |
May 20, 2026 19w ago | Press Release | $10.72 $12.14 | ▲ +13.25% | ▲ +12.51% | $12.44 (+16.04%) |
May 15, 2026 20w ago | 8-K | $10.72 $12.54 | ▲ +16.93% | ▲ +14.81% | $12.44 (+16.04%) |
May 15, 2026 20w ago | Press Release | $10.72 $12.54 | ▲ +16.93% | ▲ +14.81% | $12.44 (+16.04%) |
May 14, 2026 20w ago | Press Release | $10.51 $12.02 | ▲ +14.37% | ▲ +15.23% | $12.44 (+18.36%) |
May 12, 2026 20w ago | Press Release | $11.41 $12.19 | ▲ +6.84% | ▲ +8.56% | $12.44 (+9.03%) |
May 8, 2026 20w ago | Press Release | $10.95 $11.82 | ▲ +7.95% | ▲ +8.25% | $12.44 (+13.61%) |
US Market Status
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