NEW YORK - MiNK Therapeutics, Inc. (NASDAQ: INKT), a biopharmaceutical company focused on developing cell therapies for cancer and immune diseases, has published results from a phase 1/2 study indicating that its treatment agenT-797 may significantly improve survival in patients with severe respiratory distress due to COVID-19. The study, detailed in Nature Communications, evaluated the effectiveness of a single dose of allogeneic invariant natural killer T (iNKT) cells in patients with moderate-to-severe acute respiratory distress syndrome (ARDS), a condition with a high mortality rate.
The trial, led by Dr. Terese Hammond, Associate Clinical Professor of Medicine, University of California Los Angeles, showed survival rates exceeding 70% for patients on mechanical ventilation and an 80% survival rate among those on mechanical lung support (VV-ECMO). These figures are notably higher than the 10% survival rate of a comparable in-hospital control group. Additionally, treatment with agenT-797 was associated with a reduction in secondary bacterial and fungal infections, including an over 80% decrease in pneumonia within the highest dose cohort.
Marc van Dijk, PhD, Chief Scientific Officer at MiNK, highlighted the potential of iNKT cells to modulate immunity and the disease-modifying properties observed in the study. He pointed out the tolerable safety profile of agenT-797, which contrasts with other cell therapy approaches.
MiNK plans to continue the investigation of agenT-797 in viral ARDS through a large, externally funded platform trial. The company's aim is to leverage its manufacturing platform to deliver this therapy at scale for life-threatening diseases. The research underscores the potential of allogeneic, unmodified cell therapies in critically ill patients and suggests a broader application for iNKT-based therapies in respiratory distress and critical illnesses.
This news is based on a press release statement.
InvestingPro Insights
In the context of MiNK Therapeutics' promising results for their treatment agenT-797, it's important for investors to consider the financial health and market sentiment surrounding the company. According to InvestingPro data, MiNK Therapeutics holds a market capitalization of $29.43 million, indicative of its small-cap status in the biopharmaceutical industry. Notably, the company does not have a standard P/E ratio due to lack of profitability, with a negative adjusted P/E ratio over the last twelve months as of Q3 2023. This reflects the company's current stage of development, with significant investment in research and development yet to yield profitable returns.
Despite recent clinical successes, MiNK Therapeutics' stock has experienced a substantial decline over the past six months, with a 52.9% drop in total return. This could be a reflection of the broader market's sentiment towards risk and the biotech sector, or specific concerns about the company's cash burn rate and profitability. Two InvestingPro Tips that stand out for potential investors are the company's aggressive share buyback strategy, and the fact that it holds more cash than debt on its balance sheet, which may provide some financial stability during its growth phase.
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