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Sep 30, 2022

Tscan Therapeutics Q3 2022 Earnings Report

TScan Therapeutics reported financial results and provided a business update.

Key Takeaways

TScan Therapeutics reported Q3 2022 financial results, highlighting progress in their pipeline, including the opening of four sites for their hematologic malignancies program and the completion of a pre-IND meeting with the FDA for their solid tumor program. The company ended the quarter with $137.3 million in cash and cash equivalents, which is expected to fund operations into Q2 2024.

Four sites for the hematologic malignancies program are open and enrolling patients.

Completed pre-IND meeting with the FDA for the solid tumor program.

Ended the quarter with cash and cash equivalents of $137.3 million, funding operations into Q2 2024.

A virtual investor event is scheduled for November 14 to highlight clinical trial design.

Total Revenue
$3.36M
Previous year: $2.41M
+39.4%
EPS
-$0.67
Previous year: -$0.8
-16.3%
Gross Profit
$3.36M
Previous year: -$11.8M
-128.5%
Cash and Equivalents
$137M
Previous year: $182M
-24.7%
Free Cash Flow
-$17.4M
Previous year: -$14.5M
+20.2%
Total Assets
$165M
Previous year: $205M
-19.2%

Tscan Therapeutics

Tscan Therapeutics

Forward Guidance

TScan plans to progress IND-enabling studies for its solid tumor programs and submit IND applications for two MAGE-A1 TCRs (TSC-204-A2 and TSC-204-C7) by the end of 2022. The Company plans to file INDs for HPV (TSC-200-A2) and PRAME (TSC-203-A2) in the first half of 2023 with two additional INDs to be filed by the end of 2023. The Company expects to release preliminary clinical safety data for the most advanced TCRs by the end of 2023.

Positive Outlook

  • Progress IND-enabling studies for solid tumor programs
  • Submit IND applications for two MAGE-A1 TCRs (TSC-204-A2 and TSC-204-C7) by the end of 2022
  • File INDs for HPV (TSC-200-A2) and PRAME (TSC-203-A2) in the first half of 2023
  • File two additional INDs by the end of 2023
  • Release preliminary clinical safety data for the most advanced TCRs by the end of 2023