MiNK Therapeutics, Inc. (INKT) Balance Sheet
INKT balance sheet, 2025
December 31, 2025 · U.S. dollars$14.2M assets = $28.5M liabilities + −$14.2M equity
Liabilities exceed assets: shareholders’ equity is negative (−$14.2M).
Both columns are drawn to the same scale: what INKT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
INKT financial health
Descriptive bands, not a rating. Fiscal 2025.
INKT balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.3M2019 | $14.2M2025 | +48.9%/yr | |
| Total liabilities | $37.6M2019 | $28.5M2025 | −4.6%/yr | |
| Shareholders’ equity | −$36.3M2019 | −$14.2M2025 | — | |
| Cash & short-term investments | $299,0362019 | $13.4M2025 | +88.4%/yr | |
| Total debt | $26.8M2019 | $5.2M2025 | −24.0%/yr | |
| Net cash (debt) | −$26.5M2019 | $8.2M2025 | +$34.7M | |
| Working capital | −$6.5M2019 | $816,5252025 | +$7.3M | |
| Book value per share | −$15.092019 | −$3.332025 | — | |
| Current ratio | 0.122019 | 1.062025 | +0.94 | |
| Shares outstanding | 2.4M2019 | 4.3M2025 | +10.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
INKT assets
INKT liabilities and equity
INKT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
INKT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $13.4M | $4.6M | $3.4M | $19.6M | $38.9M | $2.7M | $299,036 |
| Cash & equivalents | $13.4M | $4.6M | $3.4M | $19.6M | $38.9M | $2.7M | $299,036 |
| Short-term investments | — | $4.57B | — | — | — | — | — |
| Receivables | $0 | $0 | $0 | $0 | $23,000 | $254,000 | $526,000 |
| Inventory | $0 | $0 | $0 | $0 | $1,761 | $1.0M | $87,700 |
| Other current assets | $487,633 | $410,844 | $231,075 | $768,967 | $721,321 | $0 | $5,664 |
| Total current assets | $13.8M | $5.0M | $3.6M | $20.4M | $39.6M | $3.6M | $918,400 |
| Property, plant & equipment (net) | $390,869 | $732,929 | $953,977 | $1.1M | $606,595 | $458,384 | $390,519 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $539,000 | $0 |
| Total assets | $14.2M | $5.7M | $4.6M | $21.5M | $40.2M | $4.6M | $1.3M |
| Liabilities | |||||||
| Accounts payable | $3.4M | $2.7M | $3.9M | $5.8M | $3.0M | $3.1M | $2.5M |
| Short-term debt | $5.2M | — | — | — | — | — | $4.8M |
| Deferred revenue | — | — | — | — | — | — | $191,012 |
| Total current liabilities | $13.0M | $7.0M | $11.4M | $12.7M | $16.5M | $14.2M | $7.4M |
| Long-term debt | $0 | $4.9M | $0 | $0 | $0 | $43.8M | $26.8M |
| Other long-term liabilities | $15.4M | $13.4M | $11.2M | $9.2M | $3.0M | $383,058 | $3.4M |
| Total liabilities | $28.5M | $25.3M | $22.6M | $21.9M | $16.5M | $58.4M | $37.6M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $48 | $40 | $346 | $339 | $335 | $87 | $241 |
| Retained earnings (deficit) | −$156.7M | −$144.2M | −$133.4M | −$110.9M | −$82.9M | −$52.7M | −$36.5M |
| Accumulated other comprehensive income | −$718,916 | −$631,576 | −$430,947 | −$292,468 | −$625,269 | −$1.5M | −$132,590 |
| Total shareholders' equity | −$14.2M | −$19.6M | −$18.1M | −$401,303 | $23.8M | −$53.9M | −$36.3M |
| Key figures | |||||||
| Total debt | $5.2M | $4.9M | — | — | — | $43.8M | $26.8M |
| Net cash (debt) | $8.2M | −$347,572 | — | — | — | −$41.1M | −$26.5M |
| Working capital | $816,525 | −$2.0M | −$7.8M | $7.7M | $23.2M | −$10.7M | −$6.5M |
| Tangible book value | −$14.2M | −$19.6M | −$18.1M | −$401,303 | $23.8M | −$53.9M | −$36.3M |
| Book value per share | −$3.33 | −$5.07 | −$5.25 | −$0.12 | $7.10 | −$16.28 | −$15.09 |
| Shares outstanding | 4.3M | 3.9M | 3.4M | 3.4M | 3.3M | 3.3M | 2.4M |
| Current ratio | 1.06 | 0.72 | 0.32 | 1.61 | 2.41 | 0.25 | 0.12 |
| Quick ratio | 1.03 | 0.66 | 0.30 | 1.55 | 2.36 | 0.21 | 0.11 |
| Equity / assets | −99.9% | −342.4% | −396.6% | −1.9% | 59.1% | −1,182.7% | −2,775.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $8.8M | $9.5M | $13.4M | $14.3M | $1.7M | $3.2M | $4.6M | $6.3M | $9.3M | $5.8M | $3.4M | $6.4M |
| Cash & equivalents | $8.8M | $9.5M | $13.4M | $14.3M | $1.7M | $3.2M | $4.6M | $6.3M | $9.3M | $5.8M | $3.4M | $6.4M |
| Short-term investments | — | — | — | — | — | — | — | $6.32B | — | — | — | — |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $489,791 | $496,778 | $487,633 | $253,109 | $329,287 | $344,914 | $410,844 | $246,981 | $159,973 | $181,871 | $231,075 | $71,300 |
| Total current assets | $9.3M | $10.0M | $13.8M | $14.5M | $2.0M | $3.6M | $5.0M | $6.6M | $9.5M | $6.0M | $3.6M | $6.5M |
| Property, plant & equipment (net) | $318,474 | $354,518 | $390,869 | $429,344 | $473,215 | $687,500 | $732,929 | $799,522 | $849,957 | $894,992 | $953,977 | $991,458 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $9.6M | $10.4M | $14.2M | $15.0M | $2.5M | $4.3M | $5.7M | $7.4M | $10.3M | $6.9M | $4.6M | $7.5M |
| Liabilities | ||||||||||||
| Accounts payable | $3.9M | $3.4M | $3.4M | $3.7M | $3.3M | $2.7M | $2.7M | $2.4M | $3.2M | $3.5M | $3.9M | $4.3M |
| Short-term debt | — | — | $5.2M | $5.7M | $5.5M | $5.1M | — | — | — | — | — | — |
| Total current liabilities | $7.6M | $7.3M | $13.0M | $13.4M | $13.2M | $12.1M | $7.0M | $7.4M | $10.1M | $11.1M | $11.4M | $10.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $4.9M | $4.6M | $4.4M | $4.2M | $0 | $0 |
| Other long-term liabilities | $16.1M | $15.8M | $15.4M | $15.0M | $14.5M | $13.9M | $13.4M | $12.9M | $12.3M | $11.9M | $11.2M | $10.6M |
| Total liabilities | $23.6M | $23.1M | $28.5M | $28.5M | $27.7M | $26.1M | $25.3M | $24.9M | $26.9M | $27.2M | $22.6M | $21.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $52 | $51 | $48 | $46 | $40 | $40 | $40 | $395 | $394 | $347 | $346 | $345 |
| Retained earnings (deficit) | −$162.5M | −$159.4M | −$156.7M | −$154.1M | −$151.2M | −$146.9M | −$144.2M | −$141.7M | −$139.9M | −$137.2M | −$133.4M | −$127.9M |
| Accumulated other comprehensive income | −$699,892 | −$697,426 | −$718,916 | −$692,114 | −$719,318 | −$662,441 | −$631,576 | −$672,838 | −$611,375 | −$385,780 | −$430,947 | −$313,188 |
| Total shareholders' equity | −$14.0M | −$12.7M | −$14.2M | −$13.5M | −$25.2M | −$21.8M | −$19.6M | −$17.6M | −$16.6M | −$20.3M | −$18.1M | −$13.6M |
| Key figures | ||||||||||||
| Total debt | — | — | $5.2M | $5.7M | $5.5M | $5.1M | $4.9M | $4.6M | $4.4M | $4.2M | — | — |
| Net cash (debt) | — | — | $8.2M | $8.6M | −$3.8M | −$1.9M | −$347,572 | $1.7M | $4.9M | $1.6M | — | — |
| Working capital | $1.7M | $2.7M | $816,525 | $1.1M | −$11.2M | −$8.5M | −$2.0M | −$823,773 | −$673,718 | −$5.1M | −$7.8M | −$3.9M |
| Tangible book value | −$14.0M | −$12.7M | −$14.2M | −$13.5M | −$25.2M | −$21.8M | −$19.6M | −$17.6M | −$16.6M | −$20.3M | −$18.1M | −$13.6M |
| Book value per share | −$2.79 | −$2.64 | −$3.33 | −$3.04 | −$6.33 | −$5.50 | −$5.19 | −$4.44 | −$4.46 | −$5.86 | −$5.22 | −$3.94 |
| Shares outstanding | 5.0M | 4.8M | 4.3M | 4.4M | 4.0M | 4.0M | 3.8M | 4.0M | 3.7M | 3.5M | 3.5M | 3.4M |
| Current ratio | 1.23 | 1.38 | 1.06 | 1.08 | 0.15 | 0.30 | 0.72 | 0.89 | 0.93 | 0.54 | 0.32 | 0.62 |
| Quick ratio | 1.16 | 1.31 | 1.03 | 1.06 | 0.13 | 0.27 | 0.66 | 0.86 | 0.92 | 0.52 | 0.30 | 0.62 |
| Equity / assets | −145.9% | −122.3% | −99.9% | −90.3% | −1,013.9% | −510.7% | −342.4% | −238.0% | −160.6% | −294.4% | −396.6% | −182.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
INKT financial position
At the end of fiscal 2025 (December 31, 2025), MiNK Therapeutics had total assets of $14.2 million (up 148.9% from a year earlier), total liabilities of $28.5 million and shareholders' equity of -$14.2 million. It held $13.4 million in cash and short-term investments against $5.2 million of debt, a net cash position of $8.2 million. Its current ratio was 1.06. In the latest quarter (ended June 30, 2026) total assets were $9.6 million and equity -$14.0 million.
Related: INKT income statement, INKT cash flow statement, INKT key metrics. See the INKT stock overview for the latest quote and news.
INKT balance sheet FAQ
What are MiNK Therapeutics's total assets?
MiNK Therapeutics reported total assets of $14.2 million at the end of fiscal 2025 (December 31, 2025), compared with $5.7 million a year earlier.
How much debt does MiNK Therapeutics have?
MiNK Therapeutics had $5.2 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does MiNK Therapeutics have?
MiNK Therapeutics held $13.4 million in cash and short-term investments at the end of fiscal 2025; with $5.2 million of debt that is net cash of $8.2 million.
What is MiNK Therapeutics's book value?
MiNK Therapeutics's shareholders' equity (book value) was -$14.2 million at the end of fiscal 2025, or −$3.33 per share.
What is MiNK Therapeutics's current ratio?
MiNK Therapeutics had current assets of $13.8 million and current liabilities of $13.0 million, a current ratio of 1.06 (it can cover its short-term obligations).