MiNK Therapeutics, Inc. (NASDAQ:INKT) Q3 2024 Earnings Conference Call November 14, 2024 8:30 AM ET

Company Participants

Alexa Buffa - Corporate Communications
Jennifer Buell - President and Chief Executive Officer
Christine Klaskin - Principal Financial and Accounting Officer
Paul Ibbett - Scientist

Conference Call Participants

Emily Bodnar - H.C. Wainwright

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's 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. I'd like to remind you that this call will include forward-looking statements, including those related to our clinical development, regulatory, and commercial plans, time for data releases, and partnership opportunities.

These statements are subject to risks and uncertainties. Please refer to our SEC filings available on our website for a detailed description of these risks. Joining me today are Dr. Jennifer Buell, President and Chief Executive Officer, Christine Klaskin, Principal Financial and Accounting Officer, Dr. Nils Rutquist [ph], Director of Research, and Dr. Paul Ibbett, Scientist at MiNK. Now, I'd like to turn the call over to Dr. Buell to highlight our progress from this quarter.

Jennifer Buell

Thank you, Alexa. Good morning, and thank you all for joining us today. Today, we will share progress and updates from the third quarter of this year, highlighting developments we've made in advancing our platform, actualizing the potential of this powerful subclass of T-cells, these allogeneic Invariant Natural Killer T-cells, or INKTs.

With our fully integrated discovery platform, engineering expertise and manufacturing innovation, we're poised to deliver what we believe to be the most scalable and transformative cell therapy platform for patients facing cellular tumor cancers and other immune-related diseases.

Importantly, we have the capacity to truly democratize access to these innovative therapies, enabling their development and application beyond rare disease settings and expanding the treatment possibilities for a much broader patient population and much broader set of diseases. We've been able to make this progress with even further operating efficiencies and reductions in operating burn by nearly an additional 60% at the same time from last year alone.

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