Tscan Therapeutics Q1 2024 Earnings Report
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.
Tscan Therapeutics
Tscan Therapeutics
Tscan Therapeutics 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.