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Mar 31, 2022
Tscan Therapeutics Q1 2022 Earnings Report
Reported financial results for the first quarter ended March 31, 2022.
Key Takeaways
TScan Therapeutics reported a net loss of $16.2 million for the first quarter ended March 31, 2022, with cash and cash equivalents of $140.8 million, sufficient to fund operations into 2024. Revenue for the quarter was $3.0 million, driven by research activities related to the collaboration agreement with Novartis.
Ended the first quarter with cash and cash equivalents of $140.8 million, funding operations into 2024.
Phase 1 umbrella trial for leukemia program on track to initiate in the first half of 2022.
To present preclinical data at the American Society of Gene & Cell Therapy 25th Annual Meeting.
Revenue for the first quarter ended March 31, 2022, was $3.0 million.
Revenue by Segment
Forward Guidance
TScan Therapeutics is focused on advancing its leukemia and solid tumor programs, with anticipated milestones including initiating a Phase 1 umbrella trial, presenting clinical and preclinical data, and submitting IND applications.
Positive Outlook
- Initiate Phase 1 umbrella trial for TSC-100, with plans to enroll patients in the first half of 2022 in the TSC-100 and standard-of-care arms.
- Anticipate presentation of initial clinical data from both treatment arms of the leukemia program at a medical meeting in the second half of 2022.
- Present initial preclinical data on the TSC-200 series at the ASGCT 25th Annual Meeting.
- Progress IND-enabling studies for the TSC-200 series and submit two IND applications during the second half of 2022. These are expected to include TSC-200-A02 for HPV and TSC-204-C7 for MAGE-A1.
- In 2023, the Company plans to release initial clinical data for the TSC-200 series TCRs, as well as file further INDs for additional programs in this series.
Challenges Ahead
- As previously disclosed, the FDA placed a clinical hold on the IND for TSC-101 in January 2022.
- The Company has since received written communication from the FDA asking for additional assessment of the potential for off-tumor reactivity in certain tissues.
Historical Earnings Impact
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