Tscan Therapeutics Q2 2022 Earnings Report
Key Takeaways
TScan Therapeutics reported a revenue of $4.1 million for the second quarter, primarily driven by research activities related to the collaboration agreement with Novartis. The company's cash and cash equivalents totaled $125.6 million, sufficient to fund operations into 2024. Net loss for the quarter was $15.1 million.
Phase 1 umbrella trial for hematologic malignancies is open for enrollment.
Publication in Cell further validates use of foundational technology to identify novel tumor antigens and effective TCRs.
TSC-200-A2 (HPV) and TSC-204-C7 (MAGE-A1) IND filings are anticipated by year-end 2022.
Debora Barton, M.D., was appointed as Chief Medical Officer.
Tscan Therapeutics
Tscan Therapeutics
Tscan Therapeutics Revenue by Segment
Forward Guidance
TScan Therapeutics anticipates several near-term catalysts, including providing an update on the Phase 1 umbrella trial for TSC-100 and TSC-101 by the end of 2022, progressing IND-enabling studies for solid tumor programs, and submitting IND applications for two TCRs by the end of 2022.
Positive Outlook
- Progressing IND-enabling studies for solid tumor programs.
- Submitting IND applications for two TCRs by the end of 2022, including TSC-200-A2 for HPV and TSC-204-C7 for MAGE-A1.
- Filing additional INDs for solid tumor programs by the end of 2023.
- Releasing initial clinical data for TCRs in the solid tumor series by the end of 2023.
- Existing cash and cash equivalents are expected to fund operating expenses and capital expenditure requirements into 2024.
Challenges Ahead
- Up to 40% of patients who receive HCT with RIC relapse within two years, at which point there are limited treatment options and poor prognosis.
- The company reported a net loss of $15.1 million for the second quarter ended June 30, 2022.
- Research and development expenses increased by $3.7 million compared to the same quarter in the previous year.
- General and administrative expenses increased by $2.1 million compared to the same quarter in the previous year.
- The company's future success depends on the successful development and commercialization of its TCR-T therapy candidates, which are subject to numerous risks and uncertainties.