INKT - Earnings call transcript Q3 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Thank you for standing by. I would like to welcome everyone to the MiNK Therapeutics Third Quarter 2024 Financial Results. I would now like to turn the call over to Alexa Buffa from MiNK Corporate Communications. Please go ahead.

Alexa Buffa

Thank you, operator, and thank you all for joining us today. Today's call is being webcast and will be available on our website for replay. releases you related call regulatory to plans, for remind statements, include and to time those opportunities. including our data like that will this forward-looking commercial I'd partnership and clinical development, statements subject risks uncertainties. and These are to on our description a risks. available these website for Please refer filings our to SEC detailed of

Scientist Financial Jennifer Research; Dr. Officer; Nils Director of are Joining and Executive Accounting me Dr. today Officer; and Chief Dr. at Paul Ibbett, and President Buell, Christine MiNK. Klaskin, Principal Rudqvist,

turn to highlight this like Now over to call I'd Dr. Buell the our to progress quarter. from

Jennifer Buell

all Alexa. joining share you, subclass powerful invariant Good the the year integrated T Thank solid morning cell updates cells, in we're believe T and and we've fully of and immune today. will third actualizing and thank most diseases. iNKTs. allogeneic discovery potential you manufacturing related tumor advancing other With we of developments to scalable of platform, to platform, this deliver natural highlighting our innovation; for this cells patients facing and we Today quarter these from platform for what us the progress made poised expertise killer cancers or be therapy engineering transformative our

further operating therapies, time development XX% population reductions alone. of and truly to access set we additional from this the a and been with able efficiencies broader year diseases. We've even patient broader expanding for operating have make much last much same nearly settings Importantly, burn to in the at an by capacity progress the and rare and to enabling these disease democratize beyond innovative their applications treatment possibilities

remain clinical of call and today we like continue cost by to manufacturing to while reduce develop leadership addition and the cost efficiencies we we've and a of We cost efficiency. offset to acutely containment goods additional I'd and While this is continued aware large position, you to of forward this in for key strengthening cash by programs, scale identify our capacity. of begin external our production look our will that funding position increase a to areas our team. part informing

of invaluable platform, value experience Kadlec's partnerships to and ago, into medical health Bob Board Human in public immense Secretary tackling critical challenges. or spearheaded Robert MiNK. Dr. including and Kadlec our impact of Assistant application of Dr. decades Response of insights health we our Department as iNKT of cell role and biodefense, be Just we health and Preparedness welcomed weeks the brings in Health preparedness, initiatives Directors. development. Kadlec for the and as emergency public-private at coordination a couple infectious Dr. and His pandemic expand strategic Services comprehensive U.S. will high disease response to strategies in countermeasure particularly his

and leadership, we've strengthening programs clinical to In advancements our in addition in our made advancements preclinical progress. our

short approaches XXX On the of progress signals or to data inhibitors presented cell potential the oncology top at of for in SITC as gastric Data at of XXXX. of Cancer data a iNKT treated progressing second-line forward promising Center. II in This conference benefit early Society significant have seen meeting therapy immune Immunotherapy in our existing areas annual options. We very Cancer our compared as XXX treatment these major incorporates Furthermore, of the first last wonderful engagers iNKT the fall these in the expand on clinic. the clinical front, where look week we well patient highlighting bispecific our programs, checkpoint half showcased presenting the indicate Phase or efficacy therapy. cohorts cancer from of lead of very at activity a is Sloan-Kettering for program chemotherapy trial Memorial botensilimab/balstilimab, advanced trial cell to to

targeting through promising give challenging diseases. To call intracellular PRAME-TCR used platform synergistic to at designed novel new needs our combinations. can therapies medicines highlight underscore of to we expressing effectiveness on patients turn I'd of findings overview. These that the activity data unique enhance and of Dr. with for offer we advancements create an tumors. Ibbett our Nils? These and Additionally, throughput Paul cells, strategies detail our Nils of Dr. PRAME on SITC, the like mechanisms address the unmet strategic iNKT provide to commonly high presented to eradicate to over findings presented the quickly more the show to Rudqvist you

Nils Rudqvist

monotherapy whether Thank we or durable you, tumor on heavily therapies in weekend, our I control patients. demonstrated as nivolumab disease combination At a or with continued building anti-PD-X achieved in Jen. pretreated used agenT-XXX, SITC Phase like which that solid last data, pembrolizumab,

bispecific at expanded data MUCXX, and of activation, agenT-XXX that pro-inflammatory HERX, reinvigorated such secretion DLLX and combination engagers regimens to with addition cell myeloma SITC more cell by compelling demonstrate data year, combined cells. as ClaudinXX.X those the compared of amplify the tumor therapy a immune shows the and T exposed new preclinical when increased killing with T to activating to existing in agenT-XXX This tumors by periphery from effective resulted T cytokines. treatments. as the on mechanistically antigens cells for demonstrated the that cells potential and position impact killing solid of and findings agenT-XXX also presented targeting This Our the subset engaging important we checkpoint

IND over to Now it Dr. Paul I'll Ibbett to discuss hand program. our PRAME-TCR

Paul Ibbett

you, Nils. Thank

GvHD iNKT of We offers This PRAME-positive therapies therapy SITC therapy sarcoma. and cell the non-small like next targeted administered are in allogeneic free lung TCR be generation T to ovarian PRAME cancer, overcome last approach melanoma tumors excited off-the-shelf solid lymphodepletion cell that at can gene conventional week. cancer, editing a limitations our cell present or to without

therapy improving TCR for this represents leveraging immunity, cancers. PRAME are PRAM-specific functionality and facing and outcomes iNKTs variant of which potent TCR. activity that their option exhibit promising scalable, patients these difficult-to-treat cell show a iNKTs, dual full for and By studies preclinical and the retain Our precise highly innate the killing of tumor bridge adaptive natural treatment

Jennifer Buell

Nils median glimpse our from our we've and months patients to component heavily beyond important long-term of that data Phase These is presented underscore modulation where persistence continued to data overall we've survival clinically. cells is the progress are a I our patients of Paul. study induce these XX treated. that data the continued follow-up. stabilization you, also An that of see was What now in observed of a ascertain the and disease program and they and we an of pretreated immune on lack progression further have at SITC Thank who expanded of

pleased investigators program patients engagement. to advancing cancer already and iNKT with during disease. And enrollment the last gastric made provide graft-versus-host in a to on activated that agenT-XXX update to mentioned expert we've addition brief we in we enrolling this complete with our the we've advance identified and to in our call, As I'm advancements have a program mid-next expected last year, cells program by that in since also

We transplantation. prevention recurrence chronic complication and are and significant stem that These other following transplant post-transplant GVHD, hematopoietic focusing affect outcomes factors on primarily the disease GVHD, cell infection. acute as allogeneic and treatment of a such

well fact organs mortality. triggering immune the potential fact have iNKTs affect agenT-XXX graft-versus-host and and preclinically as of Our through as severe experience that we graft-versus-host in And GVHD, data is responses lead who without effectively modulate major to preliminary what demonstrated some and in our biologically collaboration has patients lead reactions. is This observed in to which immunologically. high disease particularly can for morbidity mitigate our impactful candidate

and cell hematopoietic a Our Phase stem undesired patients other Europe and in of have risk ongoing undergone GvHD in implementation I who with institutions at leading high are collaboration transplant target trial a U.S. developing outcomes. the for and

in Laboratory XXX's conduct are eliminating and immune School investigations defined protocol at Jenny cell University the collaboration disease We will further the advancing transplantation. and study preclinical activation the post in efficacy and currently improving with are reducing in after Dr. project to we This phase with the having of parallel preclinical design. activation, graft-versus-host Health. Wisconsin clinical I in evaluate Gumperz's engraftment stem studies Phase optimal of And Public Medicine

cutting-edge step in of announced strategic to to programs forward in We're our encouraged project solutions aim this innovative grant collaboration targeting for cancer quarter, represents with we discipline delivering XXX and continue cells more this through our partnership position. and better we combining financial significant our This at technology finally, with effectively. course encRNA financial develop strengthen technology. same from by initiatives therapies, expect or receive We earlier we this our patients cell explore enhancing time, remain a to progress encrypted the Autonomous later By metastatic this RNA quarter clinical therapies MiNK's to care patient funding outcomes to need submitted and their accelerating feedback to and Therapeutics. a agenT-XXX, month. And iNKT and on bring prioritize focused these

growth goal of Our MiNK therapy have for call our dedication review support the iNKT and our team to your entire to financials. our the and partners resources development over the ensure turn is to Thank Christine continued the platform. necessary cell now and we support. I'll you to to our

Christine Klaskin

$X.X used significantly X of $X.XX or per with X respectively. XXXX of the or $X.XX the now and $XX.X to for and same for was $X.X per the ended Thank respectively. reduced turn for million, share, quarter for This is share months operations $X.X million X or the MiNK of a compares ended period Net XXXX. I same over and operations or balance and $X.XX for share in This operator share in million million $X.X periods and reflecting million million X Jen. cash the per back cash $X.XX XXXX in in loss million $XX and September per you, questions. $X.X XXXX. call the used from $X to $X.X will million XX, cash September months the million ended

Operator

from And Instructions] Emily H.C. from [Operator question first your line Bodnar comes Wainwright. of the

Emily Bodnar

you year. like right it we are might patients front that's study just your expectations are the prioritizing first main What be about kind the that has in the on update guess just how frame to And data early see that one, what significantly in comment enrollment II R&D and terms R&D kind kind might of and been now? gastric many been thinking relative of of and for I maybe release? on the side factors driving maybe on you XXXX the of in should are this endpoints quite we how what Phase expenses, how declining financial looks going internal

Jennifer Buell

second-line very is we And that and alone with period and the quite relatively an bot/bal given course the are you data. thank We're this conducting a which by is enrollment have standard combination the rapidly a of XXXX, started started first call say have of and is induction halfway with agents, trial its quarter kind. multiple getting your this out bit end would continued in of and to much patients I some of Emily, with subsequently care combination essentially gastric questions support. your of The we and done of a setting in progressing first that cells of the chemotherapy. point mature and we at then adding close and patients for

that team. But some the quite date conference be second XXXX. early will patients. a with because that informative we gastric at it clinical will looking and is enthusiastic nothing So which I'll type presentation Yelena line also upcoming setting the and take to in Dr. that with the the not cancer, leave data there these place we're updates about some there the it her for and of be observations an tolerability hands is of activity, forward of to Janjigia And the we're IST will in in in seeing combination, but of only

to quite standard is care for something that of actually us. exciting have can disease on So and top properties of have modulating

continues. So more to this. Enrollment come on

the where year. give we that give of so an enrollment trial we will you will by into with midyear we'll And and insights be update where also are next

doing work Regarding scalability that an manufacturing. internally that and to really efficiencies is our of and R&D expenses, you're maximize the been part of in we've we amount have right immense

costly. able viral donor accessing to to So regulatory to What with exploit and manufacturing with somewhat we've then donor-derived our and those a clearance with testing conducting purposes is a the product, scalability now which include obligations, couple been and we ensure for exponentiate of single donor. the a really have do are

for material an So now starting that's and us. impact for manufacturing financially made we've really of right reduced our cost enormous cell

address you've our towards our activities, SITC continue areas posters, we're continuing, we IND that new MiNK-XXX while So as and the innovations unmet program need. also the advancing we're seen from in of pipeline with

our associated are operational the We endeavors. also our reducing That's where return costs for manufacturing expenses particularly and with we're innovation. our giving scientific highest having

Operator

Jack of from from line Allen Our the next Baird. question comes

Charles Moore

just wondering disease trial trial? were the what This graft-versus-host endpoints see from program Jack. you this color for and maybe is to and if more the could on on Charlie you'd We like for provide any design

Jennifer Buell

actually Charlie, the one are call and we have a lead I call thanks to the trial you you tell for therapies directly to the at hosting of done here. have at in and subsequent patients disease from this is to time. inquiry. opportunity would hear graft-versus-host like this your with cell going work be a world a she's I'll of because quite all Moffitt who's expert an investigators And designer bit at on of with

get plan continuing activation advance first next to do period which this a to we're in the to trial and So through the we on design year. man, into

the patients here very minimal factors aren't the at include therapies for predominantly to look trials which patient that undergoing when allogeneic at is care ensure with at GVHD. intended point. now stem risk of of there of target you stem markers transplantation this, end patients standard eligibility with active risk similar managed treatment. When Patients with population an are cells of receive very The this cell corticosteroids. function, landscape So to infections we intended that's many will organ elevated acute identified at hematopoietic look population, this

get Some progress patients population. which this than patients problematic still get patients will of will much is incredibly to GVHD, will half extent acute abatacept, those more lesser a some but in Jakafi, to patient and

the -- risk will to engraftment in design success very immunosuppressive GvHD. choice, likely mitigate really, heavily certainly physician's mechanism So but be not widely used what's That's of the only program, likely from we The arm this look of cells, control are based action to be the indication. leaning of on improve mitigate and corticosteroid. most the going these and of this in

the will sharing that more next of of and around the the color, have leadership the sites program, in be So our selected, the you more earnings providing particularly call. the launch with design trial we been formal

Operator

Seeing no Jennifer remarks. over back questions call will our more queue, you. the Thank concludes now that as in the closing I there question-and-answer session. are for turn to Buell

Jennifer Buell

Thank your thank for you and continued you, again operator, support. all

to call. Looking our care. forward next Take

Operator

gentlemen, a for pleasant Thank you Have and today's call. concludes all joining. day. that Ladies

MiNK Therapeutics (INKT) 14 Nov 242024 Q3 Earnings call transcript