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Sep 30, 2021
Tscan Therapeutics Q3 2021 Earnings Report
TScan Therapeutics reported financial results and highlighted recent company progress.
Key Takeaways
TScan Therapeutics reported a net loss of $15.8 million for the third quarter of 2021, with research and development expenses at $14.2 million and general and administrative expenses at $4.0 million. The company's cash and cash equivalents totaled $182.3 million as of September 30, 2021, expected to fund operations into 2024. They are advancing their TCR-T therapy candidates, including IND submissions expected for TSC-100 and TSC-101 in Q4 2021.
Advanced lead TCR-T therapy candidate for TSC-200 program into IND-enabling activities.
Discovered a novel HLA-C*07:02-restricted epitope encoded by the MAGE-A1 gene and launched a new program, TSC-204.
Expanded management team with appointments of Zoran Zdraveski as Chief Legal Officer and Heather Savelle as VP, Investor Relations.
Completed initial public offering in July 2021, raising $100 million in gross proceeds.
Tscan Therapeutics
Tscan Therapeutics
Forward Guidance
TScan Therapeutics anticipates key milestones for its liquid and solid tumor programs, including IND submissions and clinical trial initiations, while continuing research into infectious disease programs.
Positive Outlook
- Present two posters related to TSC-100 and TSC-101 at the upcoming ASH Annual Meeting and Exposition.
- IND-enabling studies and the submission of IND applications to the FDA are planned for TSC-100 and TSC-101 during the fourth quarter 2021.
- Following the IND submissions and pending acceptance by the FDA, clinical trials for TSC-100 and TSC-101 are expected to begin in the first half of 2022 with preliminary data expected in the second half of 2022.
- TScan plans to present preclinical data of the TSC-2xx series during the first half of 2022.
- TScan plans to progress IND-enabling studies for the TSC-2xx series and submit IND applications during the second half of 2022, including for TSC-200 for HPV, during the second half of 2022.
Challenges Ahead
- Uncertainties regarding the timing of preclinical studies and clinical trials.
- Dependence on regulatory requirements and ability to obtain and maintain intellectual property protection.
- Potential challenges in attracting or retaining key personnel.
- Risks associated with establishing and maintaining development partnerships and collaborations.
- Potential impact of the COVID-19 pandemic on TScan’s business and operations.