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Mar 31, 2024
Tscan Therapeutics Q1 2024 Earnings Report
TScan Therapeutics reported financial results for the first quarter ended March 31, 2024, and provided a corporate update.
Key Takeaways
TScan Therapeutics reported a revenue of $0.6 million and a net loss of $30.1 million for the first quarter of 2024. The company dosed the first patient in its Phase 1 solid tumor program and closed an upsized public offering with gross proceeds of $167.8 million, extending the company's cash runway into the fourth quarter of 2026.
First patient dosed in Phase 1 clinical trial for the treatment of solid tumors; initial data anticipated in 2024.
All treatment-arm patients in the Phase 1 heme program remain relapse-free with no detectable disease, with a median follow-up of >10 months.
Closed upsized underwritten public offering with gross proceeds of $167.8 million, extending runway into the fourth quarter of 2026.
The Company expects to complete Phase 1 enrollment and open expansion cohorts at the proposed recommended Phase 2 dose in the third quarter of 2024 and provide a data update near the end of 2024.
Revenue by Segment
Forward Guidance
TScan anticipates several milestones for its Heme Malignancies Program and Solid Tumor Program.
Positive Outlook
- Opening of expansion cohorts at the proposed recommended Phase 2 dose level to further characterize safety and evaluate translational and efficacy endpoints is planned for the third quarter of 2024.
- Completion of Phase 1 enrollment and reporting of one-year clinical and translational data on initial patients is anticipated in the second half of 2024.
- Expects to initiate registration trial pending feedback from regulatory authorities and report two-year clinical and translational data in 2025.
- Phase 1 solid tumor clinical study has been initiated; first patient dosed in early May, with three additional patients enrolled and manufacturing underway.
- Initial data expected in the second half of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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