Note F – Investment in MiNK Therapeutics, Inc.

In July 2025, our ownership percentage of MiNK dropped below 50%, resulting in a loss of control. As a result, MiNK was deconsolidated in the quarter ended September 30, 2025. We retain the ability to exercise significant influence with ownership of approximately 43% as of June 30, 2026. In accordance with ASC 825, we have made the irrevocable election to measure our investment and all other eligible interest in MiNK at fair value.

All subsequent changes in fair value are reported as part of Non-operating income (expense) in our condensed consolidated statements of operations and comprehensive income (loss). We continue to have involvement with MiNK, including providing services under an Amended and Restated Intercompany Services Agreement, and MiNK has been deemed a related party. Refer to Note P for further detail.

The fair value of our equity investment in MiNK at June 30, 2026 was $25.5 million. The total carrying value of our investment in MiNK at June 30, 2026, including the carrying value of the Due from related parties receivable, was approximately $41.5 million.

Our investment in MiNK is considered a significant investee as the carrying value of our total investment is greater than 20% of our total consolidated asset balance. The following tables present summarized balance sheet information as of June 30, 2026 and summarized results of operations for the three and six months ended June 30, 2026 (in thousands):

The summarized amounts presented above are provided solely to satisfy the disclosure requirements applicable to a significant investee. They are not recognized in our results of operations, which reflect the fair value option election described above.