Company: INKT
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0000950170-25-041379
Chunk: 146

Company: MiNK Therapeutics, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1B
Chunk 146
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 beginning after December 15, 2024. The Company adopted the standard in the year ended December 31, 2024. The adoption of this standard resulted in increased disclosures, including significant segment expenditures, in the notes to its consolidated financial statements.Recently Issued, Not Yet Adopted

 76

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires incremental annual disclosures around income tax rate reconciliations, income taxes paid and other related disclosures. For the Company, ASU 2023-09 is effective for fiscal years beginning after December 15, 2025. Early adoption is permitted for any annual periods for which financial statements have not been issued or made available for issuance. The Company is currently evaluating the impact that ASU 2023-09 will have on the notes to its consolidated financial statements.In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (DISE). This new guidance requires all public entities to incorporate disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. Public entities must adopt ASU 2024-03 prospectively for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption and retrospective application are permitted. The Company is currently evaluating the impact that ASU 2024-03 will have on its consolidated financial statements.No other new accounting pronouncement issued or effective during the year ended December 31, 2024 had or is expected to have a material impact on the Company’s consolidated financial statements or disclosures. 

(3) Cash and Cash Equivalents Cash equivalents consisted of the following as of as of December 31, 2024 and 2023 (in thousands):  

        December 31, 2024

        December 31, 2023

        Cost

        Estimated Fair Value

        Cost

        Estimated Fair Value

        Institutional money market funds
         
        $
        4,212

        $
        4,212

        $
        2,899

        $
        2,899

(4) Equipment Equipment, net, consisted of the following as of December 31, 2024 and 2023 (in thousands):