MiNK Therapeutics (INKT) stock rocketed higher on Friday after the clinical-stage biopharmaceutical company announced the publication of a complete remission in Oncogene. This case saw a patient with metastatic, treatment-refractory testicular cancer undergo a complete, durable remission with the use of agenT-797, the company’s allogeneic iNKT cell therapy.
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Investors will note that the patient has been in complete remission for two years with no signs of the cancer returning. Additionally, he underwent several therapies before MiNK Therapeutics’ that failed to eliminate the cancer. He reached complete remission after a single treatment with agenT-797 alongside nivolumab.
Dr. Benjamin Garmezy, Assistant Director of Genitourinary Research for Sarah Cannon Research Institute at SCRI Oncology Partners, said, “We observed a remarkable response in a patient who had exhausted standard and experimental treatments, offering compelling evidence to further pursue clinical studies of iNKT cell therapies in solid tumors.”
MiNK Therapeutics Stock Movement Today
MiNK Therapeutics stock was up 192.63% in pre-market trading on Friday, following a 6.16% rally yesterday. The shares were also up 10.9% year to date, but have fallen 30.98% over the past 12 months. Today’s rally came with heavy trading of INKT stock, as some 5 million shares changed hands, compared to a three-month daily average of about 10,930 units.
Is MiNK Therapeutics Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for MiNK Therapeutics is Moderate Buy, based on two Buy ratings over the past three months. With that comes an average INKT stock price target of $35, representing a potential 352.78% upside for the shares.
