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Sep 30, 2023
Tscan Therapeutics Q3 2023 Earnings Report
TScan Therapeutics reported financial results for the third quarter ended September 30, 2023.
Key Takeaways
TScan Therapeutics reported revenue of $3.9 million and a net loss of $23.0 million for the third quarter ended September 30, 2023. The company ended the quarter with $215.4 million in cash, cash equivalents, and marketable securities, which is expected to fund operations into 2026.
TScan will present initial data from heme malignancies Phase 1 trial at the 65th ASH Annual Meeting and Exposition.
The company announced recent FDA clearance of IND for TSC-203-A0201 targeting PRAME.
TScan presented six posters at the SITC 38th Annual Meeting, highlighting solid tumor Phase 1 trial design and addition of melanoma-associated antigen C2 (MAGE-C2) to ImmunoBank.
TScan ended Q3 with cash, cash equivalents, and marketable securities of $215.4 million, funding operations into 2026.
Revenue by Segment
Forward Guidance
TScan anticipates several clinical milestones for its heme malignancies and solid tumor programs. The company expects to reach the recommended Phase 2 dose for both TSC-100 and TSC-101 and report interim clinical data for the heme program by the end of 2023. For the solid tumor program, TScan anticipates further expansion of the ImmunoBank with IND filings for two additional TCR-Ts by year-end 2023 and plans to initiate a Phase 1 solid tumor clinical study and enroll the first patient by year-end 2023.
Positive Outlook
- Reach the recommended Phase 2 dose for both TSC-100 and TSC-101 by the end of 2023.
- Report interim clinical data for the heme program by the end of 2023.
- Expand the ImmunoBank with IND filings for two additional TCR-Ts by year-end 2023.
- Initiate Phase 1 solid tumor clinical study and enroll the first patient by year-end 2023.
- 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.
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