MiNK Therapeutics Initiates Phase 2 Trial for agenT-797
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
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MiNK Therapeutics and First Lviv Territorial Medical Union announced the initiation of a randomized Phase 2 clinical trial evaluating agenT-797, MiNK's off-the-shelf allogeneic invariant natural killer T cell therapy, in patients with severe acute lung injury. The study has received authorization from the Ministry of Health of Ukraine and is supported by an active U.S. IND.
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Current: 10.510
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About INKT
MiNK Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery, development, and commercialization of allogeneic invariant natural killer T (iNKT) cell therapies to treat cancer and other immune-mediated diseases. It is advancing a pipeline of both native and engineered iNKT programs, with a platform designed to facilitate scalable and reproducible manufacturing for off-the-shelf delivery. Its advanced product candidate, agenT-797, is an off-the-shelf, allogeneic, native iNKT cell therapy designed to provide transformative treatment options. AgenT-797 is an iNKT cell therapy that harnesses the dual power of innate and adaptive immunity. In addition, it is advancing a pipeline of allogeneic, engineered iNKT programs. Its two advanced preclinical engineered programs are MiNK-413, an IL-15 armored CAR-iNKT program targeting B cell maturation antigen (BCMA), and MiNK-215, an IL-15 armored tumor stromal targeting FAP-CAR-iNKT program.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Earnings Surprise: MiNK Therapeutics reported a Q1 GAAP EPS of -$0.57, beating expectations by $0.20, indicating an improvement in financial performance that could bolster investor confidence.
- Cash Position: As of Q1 2026, MiNK's cash and cash equivalents stood at approximately $9.5 million, down from about $13.4 million as of December 31, 2025, suggesting some pressure on the company's financial management.
- Clinical Development: MiNK plans to release initial ARDS Phase II data in H2 2026, which could provide critical support for the company's future product development and market positioning.
- Strategic Collaboration: The partnership with C-Further led to a 60% surge in MiNK Therapeutics' stock price, enhancing the company's market visibility and potentially laying the groundwork for expansion in the pediatric cancer sector.
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- Clinical Trial Progress: MiNK Therapeutics announced the initiation of a randomized Phase II clinical trial for acute lung injury in Q1 2026, with expectations for rapid early clinical data that supports its strategic development in pulmonary diseases.
- Strong Financial Position: As of the end of 2025, the company reported approximately $13.4 million in cash and cash equivalents, and after repaying $5.2 million in debt and raising $3 million, it ended the quarter with about $9.5 million, ensuring operational funding for at least the next 12 months.
- Partnership Strategy: The collaboration with C-Further aims to advance the PRAME-targeted TCR-engineered iNKT cell therapy for pediatric cancers, providing nondilutive support and potential commercial economics, showcasing its strategic positioning in oncology treatment.
- Survival Rate Data: At the AACR meeting, MiNK reported Phase II data in gastroesophageal cancer, with a median overall survival exceeding 23 months in the immune-primed cohort, highlighting the treatment's potential and market prospects.
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- Clinical Trial Results: Agenus' Phase 1b trial data reveals that in 19 patients with treatment-refractory hepatocellular carcinoma (HCC), the combination of BOT and BAL achieved an objective response rate of 17%, including one complete response and two partial responses, indicating potential efficacy in this challenging patient population.
- Survival Analysis: Among 18 efficacy-evaluable patients, the median overall survival was reported at 12.3 months, despite 47% of the cohort having ALBI grade 2 liver function, which typically indicates poorer prognosis, thus highlighting the potential of BOT and BAL in improving survival outcomes.
- Safety Assessment: The safety profile of BOT and BAL in HCC patients was consistent with prior studies, with 68% of patients experiencing immune-mediated adverse events and no treatment-related deaths, suggesting that the combination is manageable and suitable for further investigation.
- Future Research Directions: Investigators noted that the BOT and BAL combination demonstrated promising efficacy and manageable safety in post-immunotherapy HCC patients, supporting continued exploration in this area to assess its applicability in a broader patient population.
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- Trial Initiation: MiNK Therapeutics has launched a randomized Phase 2 clinical trial for agenT-797, targeting severe acute lung injury and critical illness, with preliminary data expected in the second half of 2026, which will provide crucial insights for further development of the drug.
- Biological Rationale Strengthened: Presentations at AACR and ASGCT highlighted the durable survival and context-dependent activity of iNKT cells, particularly showing a 77% disease control rate and over 20 months of long-term survival in PD-1 refractory gastroesophageal cancer patients, underscoring its clinical potential.
- Capital Efficiency Improvement: MiNK secured approximately $1.1 million in non-dilutive funding through a collaboration with C-Further to advance a PRAME-targeted TCR-engineered iNKT cell therapy for pediatric cancers, a strategy that not only reduces capital burden but also offers potential downstream commercial revenue opportunities.
- Financial Update: As of Q1 2026, MiNK reported approximately $9.5 million in cash and cash equivalents, down from $13.4 million at the end of 2025, although net loss slightly decreased to $2.74 million, indicating the company's ongoing commitment to advancing high-priority clinical programs.
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- Trial Launch: MiNK Therapeutics, in collaboration with First Lviv Medical Union, has initiated a randomized Phase 2 clinical trial in Lviv, Ukraine, to evaluate the efficacy of its iNKT cell therapy, agenT-797, in patients with acute lung injury, with preliminary data expected in the second half of 2026.
- Study Design: The trial is a randomized, placebo-controlled study aimed at assessing whether iNKT cell therapy can improve survival rates, ventilator-free days, and secondary infection control in critically ill patients, addressing a significant gap in effective treatments.
- Global Relevance: Acute lung injury and ARDS affect approximately 3 million people globally, with around 200,000 cases annually in the U.S., highlighting the clinical significance and potential market demand for this research on a global scale.
- Restoration of Immune Function: iNKT cells may restore immune coordination in critically ill patients by modulating immune responses, and MiNK believes this study will provide supportive data for future regulatory pathways in acute lung injury and related critical care conditions.
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- Therapeutic Efficacy: MiNK Therapeutics' agenT-797 demonstrated rapid IFN-gamma elevation in 34 solid tumor patients, indicating anti-tumor immune activation, while also producing IL-4 and IL-13 elevation in 20 ARDS patients, showcasing its potential for immune restoration across different disease states.
- Manufacturing Platform Advantage: The therapy's manufacturing platform isolates iNKT cells from the same donor batch and scales them to billions, ensuring intrinsic biological activity is preserved across various disease environments, thus supporting broad applications in acute critical care and oncology.
- Clinical Trial Outlook: MiNK plans to advance agenT-797 into a randomized Phase 2 trial for acute lung injury, with preliminary data expected in 2026, which will provide crucial evidence for further development and could transform existing treatment paradigms.
- Favorable Safety Profile: Immune activation observed in both oncology and ARDS patients occurred without uncontrolled cytokine release syndrome or pathological hyperinflammation, indicating a favorable therapeutic index that enhances the feasibility of clinical applications in intensive care settings.
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