$INKT
MiNK Therapeutics, Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023021191 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.785M $1.661M $4.534M
YoY Change -65.54% -63.38% 662.08%
% of Gross Profit
Research & Development $4.558M $4.194M $2.840M
YoY Change -22.42% 47.66% -8.32%
% of Gross Profit
Depreciation & Amortization $51.90K $45.69K $27.08K
YoY Change 83.33% 68.73% 67.2%
% of Gross Profit
Operating Expenses $4.558M $4.194M $7.374M
YoY Change -22.42% -43.13% 99.7%
Operating Profit -$6.343M -$5.854M -$7.374M
YoY Change -17.6% -20.61% 145.14%
Interest Expense $146.4K $168.1K $848.00
YoY Change 454.93% 19718.4% -99.89%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 -$402.0K
YoY Change -100.0% -100.0% 326.52%
Pretax Income -$6.197M -$5.686M -$7.777M
YoY Change 1.38% -26.89% 102.2%
Income Tax
% Of Pretax Income
Net Earnings -$6.197M -$5.686M -$7.777M
YoY Change 1.38% -26.89% 102.2%
Net Earnings / Revenue
Basic Earnings Per Share -$0.18 -$0.17 -$0.23
Diluted Earnings Per Share -$0.18 -$0.17 -$232.1K
COMMON SHARES
Basic Shares Outstanding 34.42M 33.91M 33.56M
Diluted Shares Outstanding 34.41M 33.97M 33.50M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.62M $14.89M $34.69M
YoY Change -64.41% -57.07%
Cash & Equivalents $10.60M $14.90M $34.70M
Short-Term Investments
Other Short-Term Assets $166.0K $320.9K $788.4K
YoY Change -56.09% -59.3%
Inventory
Prepaid Expenses $265.8K $309.1K
Receivables
Other Receivables
Total Short-Term Assets $11.05M $15.52M $35.48M
YoY Change -63.55% -56.25%
LONG-TERM ASSETS
Property, Plant & Equipment $1.058M $1.067M $665.2K
YoY Change 34.32% 60.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.058M $1.067M $665.2K
YoY Change 34.32% 60.36%
TOTAL ASSETS
Total Short-Term Assets $11.05M $15.52M $35.48M
Total Long-Term Assets $1.058M $1.067M $665.2K
Total Assets $12.11M $16.59M $36.14M
YoY Change -61.08% -54.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.886M $6.002M $3.727M
YoY Change 1.98% 61.04%
Accrued Expenses $4.250M $2.753M $2.653M
YoY Change 49.38% 3.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.46M $11.25M $18.83M
YoY Change -34.21% -40.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $79.34K $94.18K
YoY Change
Total Long-Term Liabilities $79.34K $94.18K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $11.46M $11.25M $18.83M
Total Long-Term Liabilities $79.34K $94.18K $0.00
Total Liabilities $11.54M $11.34M $18.83M
YoY Change -33.76% -39.77%
SHAREHOLDERS EQUITY
Retained Earnings -$122.8M -$116.6M -$90.70M
YoY Change 26.86% 28.56%
Common Stock $113.7M $112.5M
YoY Change 4.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.495M -$4.476M $17.31M
YoY Change
Total Liabilities & Shareholders Equity $12.11M $16.59M $36.14M
YoY Change -61.08% -54.1%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$6.197M -$5.686M -$7.777M
YoY Change 1.38% -26.89% 102.2%
Depreciation, Depletion And Amortization $51.90K $45.69K $27.08K
YoY Change 83.33% 68.73% 67.2%
Cash From Operating Activities -$4.151M -$4.366M -$4.196M
YoY Change -10.25% 4.05% -0.29%
INVESTING ACTIVITIES
Capital Expenditures $37.02K $13.50K $0.00
YoY Change -159.32% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$37.02K -$13.50K $0.00
YoY Change -40.68% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -75.69K -334.4K 689.0
YoY Change -51.76% -48637.74% -99.97%
NET CHANGE
Cash From Operating Activities -4.151M -4.366M -4.196M
Cash From Investing Activities -37.02K -13.50K 0.000
Cash From Financing Activities -75.69K -334.4K 689.0
Net Change In Cash -4.264M -4.744M -4.200M
YoY Change -11.99% 12.93% 123.32%
FREE CASH FLOW
Cash From Operating Activities -$4.151M -$4.366M -$4.196M
Capital Expenditures $37.02K $13.50K $0.00
Free Cash Flow -$4.188M -$4.380M -$4.196M
YoY Change -8.21% 4.37% -1.22%

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4047686
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
6720366
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.02
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y11M19D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
4047686
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3594127
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.23
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y2M19D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4027006
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.74
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.15
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5400000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
726163
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.01
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
666810
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.30
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
507217
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
2.34
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
885756
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2.87
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
600000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y7M6D
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
61844
CY2023Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
30413
CY2023Q1 us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
476804
CY2023Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
163759
CY2023Q1 inkt Stock Issued During Period Shares Employee Benefit Plan Net Of Shares Withheld For Taxes
StockIssuedDuringPeriodSharesEmployeeBenefitPlanNetOfSharesWithheldForTaxes
313045
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
921000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
786000
CY2023Q1 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">(8) Contingencies</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company may currently be, or may become, a party to legal proceedings. While the Company currently believes that the ultimate outcome of any of these proceedings will not have a material adverse effect on its financial position, results of operations, or liquidity, litigation is subject to inherent uncertainty and consumes both cash and management attention.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>

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