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NEW YORK - MiNK Therapeutics, Inc. (NASDAQ: INKT), a biopharmaceutical company focused on developing iNKT cell therapies for cancer and other diseases, has announced that it has regained compliance with Nasdaq’s listing requirements. The company, currently trading at $9.49 and showing a strong year-to-date return of 36%, has demonstrated resilience despite its relatively small market capitalization of $37.64 million. According to InvestingPro analysis, the stock is currently trading near its Fair Value. The formal notice from Nasdaq confirmed that MiNK now meets the minimum bid price and market value of listed securities criteria for continued listing on The Nasdaq Capital Market.
The company, which specializes in allogeneic, off-the-shelf invariant natural killer T (iNKT) cell therapies, has resolved the issues that previously put its Nasdaq listing at risk. With this development, MiNK has closed the matter concerning its compliance with Nasdaq Capital Market listing requirements. InvestingPro data reveals that while the company maintains a FAIR overall financial health score, it faces challenges with cash burn and current ratio of 0.89, indicating potential liquidity concerns.
MiNK Therapeutics is advancing its pipeline of native and engineered iNKT cell therapy programs, with a focus on scalable and reproducible manufacturing processes for off-the-shelf therapeutic delivery. The company is headquartered in New York, NY. Notably, analyst price targets range from $40 to $90, suggesting significant potential upside according to Wall Street expectations. Discover more insights and 8 additional key ProTips with a subscription to InvestingPro.
The press release also included forward-looking statements about the potential benefits of iNKT cell therapies and the company’s plans and goals for its current and future programs. These statements are subject to various risks and uncertainties and should be considered with caution.
The news of MiNK’s regained compliance may be of interest to investors, as it indicates the company’s ability to meet the financial standards set by Nasdaq for its listed companies. This development is based on a press release statement from MiNK Therapeutics.
In other recent news, MiNK Therapeutics has been active with significant developments that may interest investors. The company presented its Phase 2 trial results at the American Society of Clinical Oncology Gastrointestinal Cancers Symposium. This trial explores a novel combination therapy for gastroesophageal cancers, showing promising clinical and immunologic responses in gastric cancer patients. Additionally, MiNK Therapeutics announced a reverse stock split at a 1-for-10 ratio, which was approved by a majority of stockholders. This corporate action is set to take effect on January 28, 2025, and aims to improve the stock’s marketability. The reverse split follows a special meeting where 26,500,274 votes were cast in favor of the proposal. These recent developments highlight MiNK Therapeutics’ ongoing efforts in advancing cancer therapies and corporate restructuring.
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