Segments

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segments

(14) Segments

MiNK is managed and operated as one business segment. The Company does not operate separate lines of business with respect to any of its product candidates or geographic locations. MiNK's single reportable segment is focused on the discovery, development and manufacturing of allogeneic, off-the-shelf, iNKT cell therapies to treat cancer and other immune-mediated diseases.

MiNK's CEO serves as its Chief Operating Decision Maker (“CODM”) and is responsible for reviewing company performance and making decisions regarding resource allocation. The Company's CODM evaluates company performance based on net loss, as included in the Consolidated Statements of Operations and Comprehensive Loss, ensuring resource allocation decisions support company goals. The measure of segment assets is total assets, as included in the Consolidated Balance Sheets. Refer to the consolidated financial statements for other financial information regarding the Company's single reportable segment.

The following table presents selected financial information related to the Company's single reportable segment for the years ended December 31, 2024 and 2023 (in thousands):

	Year Ended December 31,
	2024			2023
Operating expenses:
External expenses	$	(2,452	)	$	(9,885	)
Payroll related expenses		(5,217	)		(8,211	)
Other operating expenses		(3,619	)		(4,825	)
Operating loss		(11,288	)		(22,921	)
Other income (expense):
Interest expense		(93	)		(28	)
Interest income		265			491
Other income		331			—
Net loss	$	(10,785	)	$	(22,458	)

In the table above, “Other operating expenses” includes items such as the allocation of Agenus Services, depreciation and amortization expense, stock-based compensation expense, fair value adjustments and expenses related to certain foreign subsidiaries.