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On Tuesday, H.C. Wainwright increased its price target on MiNK Therapeutics (NASDAQ:INKT) shares to $35.00, a substantial rise from the previous target of $9.00. The firm maintained a Buy rating on the stock. Currently trading at $10.65, with a market capitalization of $37.6 million, INKT has shown strong momentum with a 52.8% return year-to-date. Analyst Emily Bodnar cited the promising biomarker data from the company’s Phase 2 study in refractory gastroesophageal cancer (GEC) as the reason for the adjustment.According to InvestingPro data, INKT has delivered impressive returns, with a nearly 30% gain over the past six months. Subscribers can access 8 additional real-time ProTips and comprehensive financial metrics for deeper analysis.
MiNK Therapeutics presented the data on Monday, showcasing results from their ongoing study of agenT-797, an unmodified allogeneic iNKT cell therapy. The study, led by Dr. Yelena Janjigian from Memorial Sloan Kettering Cancer Center, is investigating the therapy’s effectiveness in patients with second-line GEC. While the company shows promise in its clinical developments, InvestingPro analysis indicates the company faces financial challenges, with an EBITDA of -$14.07 million in the last twelve months and a current ratio of 0.89, suggesting tight liquidity.
The Phase 2 trial, which does not include a control arm, is utilizing historical data to evaluate efficacy against standard of care (SOC) chemotherapy for GEC. The study’s design involves various combinations of induction therapies followed by consistent treatment regimens starting from the second cycle. Although primary and secondary endpoint data were not released, the biomarker data demonstrated notable increases in immune cell infiltration and pro-inflammatory biomarkers, which are indicative of cytotoxic activity.
The biomarker and translational data presented by MiNK Therapeutics revealed significant increases in T-cell activation and pro-inflammatory biomarkers in the peripheral blood of patients. These findings, especially the sustained increase in IFN-γ, suggest a strong immune response which is a positive sign for the ongoing study.
The analyst also referenced the RAINBOW Phase 3 study, which evaluated the combination of ramucirumab and paclitaxel versus paclitaxel alone in previously treated gastric cancer, to provide context for the expectations of MiNK’s study. The RAINBOW study’s objective response rate (ORR) of 28% serves as a benchmark for MiNK’s ongoing trial, despite the latter’s smaller scale.
In conclusion, H.C. Wainwright’s reiteration of their Buy rating and significant increase in the price target for MiNK Therapeutics comes after the company’s recent 1-for-10 reverse stock split. The broader analyst consensus remains strongly bullish, with price targets ranging from $40 to $90. The updated price target reflects the analyst’s optimism in the potential of agenT-797 to treat refractory gastroesophageal cancer.For comprehensive analysis of MINK Therapeutics and 1,400+ other stocks, including detailed Fair Value assessments and financial health scores, visit InvestingPro.
In other recent news, MiNK Therapeutics, Inc. has announced several key developments that may interest investors. The company has regained compliance with Nasdaq’s listing requirements, meeting the necessary criteria for continued listing on The Nasdaq Capital Market. This marks a resolution to previous issues that had put its listing at risk. Additionally, MiNK Therapeutics presented promising Phase 2 trial results at the American Society of Clinical Oncology Gastrointestinal Cancers Symposium. The trial explores a combination therapy for gastroesophageal cancers, showing potential for modifying the tumor environment and enhancing immune response. Furthermore, MiNK Therapeutics declared a reverse stock split of its common stock at a 1-for-10 ratio, which will take effect at the start of trading on January 28, 2025. This corporate action follows a majority approval from stockholders and aims to improve marketability and meet listing requirements. These developments highlight MiNK’s ongoing efforts to advance its therapeutic programs and maintain its market presence.
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