Loading...
•
Jun 30, 2021
Tscan Therapeutics Q2 2021 Earnings Report
TScan Therapeutics' financial results for Q2 2021 were reported, recent program progress was highlighted, and key upcoming milestones were outlined.
Key Takeaways
TScan Therapeutics reported financial results for the quarter ended June 30, 2021. The company had cash and cash equivalents totaling $106.2 million as of June 30, 2021, excluding gross proceeds of $100 million from the IPO. Net loss for the second quarter 2021 was $10.7 million or $7.69 per common share.
TScan completed its IPO, raising $100 million in gross proceeds.
IND submissions are expected in the fourth quarter of 2021 for lead liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101.
The company plans to complete IND-enabling studies for its lead liquid tumor candidates and submit IND applications to the FDA during the fourth quarter.
TScan continues to progress its solid tumor program with the ongoing discovery of novel shared T cell targets.
Tscan Therapeutics
Tscan Therapeutics
Forward Guidance
TScan expects that cash and cash equivalents as of June 30, 2021, combined with the proceeds from the IPO, will enable it to fund its operating expenses into 2024.
Positive Outlook
- Present additional preclinical data of TSC-100 and TSC-101 during the fourth quarter of 2021.
- Complete Investigational New Drug (IND)-enabling studies and submit IND applications to the U.S. Food and Drug Administration (FDA) for TSC-100 and TSC-101 during the fourth quarter 2021.
- Initiate clinical trials for TSC-100 and TSC-101 in the first half of 2022 with initial top-line data expected in the second half of 2022.
- Present additional preclinical data of TSC-200 series during the first half of 2022.
- Complete three IND-enabling studies for TSC-200 series and submit subsequent IND applications to FDA during the second half of 2022. A fourth IND is also planned for the first half of 2023.
Challenges Ahead
- No specific negatives were mentioned in the provided text.