Tscan Therapeutics Inc · Q3 2024 earnings

Briefing

Reported financial results for the third quarter ended September 30, 2024 and provided a corporate update.

TScan Therapeutics reported third quarter 2024 financial results, with revenue at $1.0 million compared to $3.9 million for the same period in 2023. Net loss was $29.9 million, compared to $23.0 million for the third quarter of 2023. Cash, cash equivalents, and marketable securities totaled $271.1 million, expected to fund operations into the fourth quarter of 2026.

• Upcoming oral presentation for the ALLOHATM Phase 1 heme trial at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition.
• Company to host virtual KOL event on December 10th to discuss clinical updates from the ALLOHA Phase 1 trial and heme development strategy.
• On track to dose first patient with multiplex TCR-T therapy and will provide an update on our Phase 1 study by the end of the year.
• Cash, cash equivalents, and marketable securities continue to fund operations into the fourth quarter of 2026.

Headline financials

Revenue & EPS history

TScan Therapeutics plans to open expansion cohorts at the proposed recommended Phase 2 dose level to further characterize safety and evaluate translational and efficacy endpoints by the end of 2024. One-year clinical and translational data on initial patients to be reported by the end of 2024. Initiate a registration trial, pending feedback from regulatory authorities, and plans to report two-year clinical and translational data in 2025. Update on solid tumor program expected by the end of 2024. Investigational new drug (IND) filing for TCR targeting MAGE-A4 on HLA-A*02:01 (TSC-202-A0201) planned by the end of the year. Response data for multiplex therapy anticipated in 2025.