MiNK Therapeutics Inc. (NASDAQ: INKT) initiated a randomized Phase 2 clinical trial for its investigational therapy agenT-797 in patients with severe acute lung injury and respiratory distress. The company reported first quarter 2026 financial results and provided a business update based on information from a company press release.

The randomized trial evaluates agenT-797 plus standard of care compared with placebo plus standard of care in adults with severe acute lung injury and critical illness. The study targets patients with moderate to severe acute hypoxemic respiratory failure due to severe pneumonia who meet Global ARDS criteria and are admitted to intensive care units. Preliminary data are expected in the second half of 2026.

The trial has received authorization from the Ukraine Ministry of Health and is supported by an active U.S. IND, though it remains subject to FDA clearance for planned U.S. site activation. The study includes a seamless Phase 2/3 operational framework designed to support efficient transition into later-stage development.

MiNK presented clinical data at the American Association for Clinical Research Annual Meeting and the American Society of Gene and Cell Therapy Meeting. In PD-1 refractory gastroesophageal cancer, investigator-sponsored Phase 2 data showed a 77% disease control rate, with long-term survival beyond 20 months observed in a subset of patients.

The company announced a collaboration with C-Further for developing a PRAME-targeted TCR-engineered iNKT cell therapy for pediatric cancers. The collaboration provides up to approximately $1.1 million in non-dilutive funding for IND-enabling development.

MiNK ended the first quarter with approximately $9.5 million in cash and cash equivalents, compared with approximately $13.4 million as of December 31, 2025. Net loss for the first quarter was approximately $2.7 million, or $0.57 per share, compared with approximately $2.8 million, or $0.70 per share, for the same period in 2025.