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Jun 30, 2023
Tscan Therapeutics Q2 2023 Earnings Report
TScan Therapeutics reported financial results for the second quarter ended June 30, 2023, and provided a corporate update.
Key Takeaways
TScan Therapeutics reported a net loss of $24.0 million for the second quarter ended June 30, 2023, compared to a net loss of $15.1 million for the same period in 2022. The company ended the quarter with $208.8 million in cash and cash equivalents. Revenue for the quarter was $3.1 million, compared to $4.1 million for the second quarter ended June 30, 2022.
Presented preliminary Phase 1 clinical data from heme malignancies trial at the ASGCT 26th Annual Meeting.
Announced FDA clearance of fourth IND for solid tumor program – TSC-200-A0201 targeting HPV16.
Closed underwritten public offering with net proceeds of approximately $134.7 million.
Ended 2Q 2023 with cash and cash equivalents of $208.8 million, which along with $30 million proceeds from Amgen, will fund the Company into 2026.
Tscan Therapeutics
Tscan Therapeutics
Tscan Therapeutics Revenue by Segment
Revenue by Segment
Collab & License Revenue
CapyFin.com Forward Guidance
TScan Therapeutics anticipates reaching the recommended Phase 2 dose for both TSC-100 and TSC-101 and reporting interim clinical data for the program by the end of 2023. The company also plans to initiate a Phase 1 solid tumor clinical study in the second half of 2023 and anticipates sharing preliminary data by the end of 2023.
Positive Outlook
- Expects to reach the recommended Phase 2 dose for both TSC-100 and TSC-101 and report interim clinical data for the program by the end of 2023.
- Plans to complete Phase 1 dosing and report prevention of relapse data in 2024.
- Anticipates further expansion of the ImmunoBank with the recent filing of an IND for TSC-203-A0201, an HLA-A*02:01-restricted TCR targeting PRAME, and IND filings for two additional TCRs by year-end.
- Plans to initiate Phase 1 solid tumor clinical study in the second half of 2023 and anticipates sharing preliminary data by the end of 2023.
- Expects to report initial multiplexed therapy data for its first combinations of TCR-Ts under T-Plex, as well as response data for singleplex cohorts, in 2024.