{"id":874398,"date":"2025-08-12T07:27:19","date_gmt":"2025-08-12T11:27:19","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/"},"modified":"2025-08-12T07:27:19","modified_gmt":"2025-08-12T11:27:19","slug":"tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/","title":{"rendered":"TScan Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>Two-year relapse data from ALLOHA\u2122 Phase 1 heme trial to be presented by end of year<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Expects to dose first solid tumor patients with multiplex TCR-T in the third quarter of 2025<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Cash, cash equivalents, and marketable securities continue to fund operations into the first quarter of 2027<\/em>\n      <\/p>\n<p align=\"justify\">WALTHAM, Mass., Aug.  12, 2025  (GLOBE NEWSWIRE) &#8212; TScan Therapeutics, Inc. (Nasdaq: TCRX), a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer, today reported financial results for the second quarter ended June 30, 2025, and provided a corporate update.<\/p>\n<p align=\"justify\">\u201cWe expect to dose our first solid tumor patients with multiplex TCR-T in the third quarter of this year,\u201d said Gavin MacBeath, Ph.D., Chief Executive Officer. \u201cWe are currently enrolling into three different multiplex cohorts in our PLEXI-T trial and plan to share safety and preliminary response data in the first quarter of 2026. In parallel, we are finalizing our commercial-ready process for our heme program, which results in shorter manufacturing times and substantially lower cost of goods, and look forward to presenting updated data on our ALLOHA study by the end of the year.\u201d\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/p>\n<p align=\"justify\">\n        <strong>Upcoming Anticipated Milestones<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>Heme Malignancies Program: TScan\u2019s lead TCR-T therapy candidate, TSC-101, is designed to treat residual disease and prevent relapse in patients with acute myeloid leukemia (AML), acute lymphoblastic leukemia (ALL), or myelodysplastic syndrome (MDS) undergoing allogeneic hematopoietic cell transplantation (HCT) (the ALLOHA\u00a0trial,\u00a0<\/em><br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=iLUH-C7qKIyUlK6s1_6sd_a3rGh4AmQdS12dfF1vBb_wxLkOPL2dvHCtN-kja4j8ErhIUGruoM5m0X2WC62jaVL5rTe01Ls6ts6LtUaGxV2Vgelz1_CmWpWapAuXg0sNdaT7ydmTrlCwoccyrrzFbw==\" rel=\"nofollow\" target=\"_blank\"><br \/>\n          <em>NCT05473910<\/em><br \/>\n        <\/a><br \/>\n        <em>).<\/em>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:0in;margin-bottom:0in;text-align:justify\">Plans to initiate a registrational trial for TSC-101, pending further feedback from regulatory authorities, in the second half of 2025.<\/li>\n<li style=\"margin-top:0in;margin-bottom:0in;text-align:justify\">Expects to file an investigational new drug (IND) application for TSC-102-A0301, a TCR-T targeting an HLA-A*03:01-restricted epitope on CD45, in the second half of 2025.<\/li>\n<li style=\"margin-top:0in;margin-bottom:0in;text-align:justify\">Plans to present additional data from the ALLOHA Phase 1 trial, including two-year relapse data on the initial patients treated with TSC-101, by the end of the year.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <em>Solid Tumor Program: TScan continues to develop the ImmunoBank, a collection of TCR-T therapy candidates that target different cancer-associated antigens presented on diverse HLA types. TScan\u2019s strategy is to treat patients with multiple TCR-T therapy candidates to overcome tumor heterogeneity and resistance that may arise from either target or HLA loss (the PLEXI-T trial,\u00a0<\/em><br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=iLUH-C7qKIyUlK6s1_6sd1VD0O1gD4QfXZBHqa4R1oDDZdHltOAJYtyKx4t1GlsHiFy5QGWqoQg_lrzsTIgIe-qrqvFKGDqiO4OskP2CR5q-SbJOaZt-Mf9Kox8acQClO6Tp6M4DUUYnVCZ_wTAbcA==\" rel=\"nofollow\" target=\"_blank\"><br \/>\n          <em>NCT05973487<\/em><br \/>\n        <\/a><br \/>\n        <em>).<\/em>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:0in;margin-bottom:0in;text-align:justify\">Expects to dose first patients with multiplex TCR-T in the third quarter of 2025.<\/li>\n<li style=\"margin-top:0in;margin-bottom:0in;text-align:justify\">Plans to share initial safety and response data in the first quarter of 2026.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Second Quarter 2025 Financial Results<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>Revenue:\u00a0<\/strong>Revenue for the second quarter of 2025 was $3.1 million, compared to $0.5 million for the second quarter of 2024. The increase was primarily due to timing of research activities pursuant to the Company\u2019s collaboration agreement with Amgen.<\/p>\n<p align=\"justify\">\n        <strong>R&amp;D Expenses:\u00a0<\/strong>Research and development (R&amp;D) expenses for the second quarter of 2025 were $32.6 million, compared to $26.9 million for the second quarter of 2024. The increase of $5.8 million was primarily driven by an increase in laboratory supplies, research materials and studies expenses due to ongoing activities with a global contract development and manufacturing organization, as well as an increase in facility-related and personnel expenses associated with continued expansion of internal manufacturing capabilities. R&amp;D expenses included non-cash stock compensation expense of $1.7 million and $1.2 million for the second quarter of 2025 and 2024, respectively.<\/p>\n<p align=\"justify\">\n        <strong>G&amp;A Expenses:\u00a0<\/strong>General and administrative (G&amp;A) expenses for the second quarter of 2025 were $9.1 million, compared to $7.8 million for the second quarter of 2024. The increase of $1.3 million was primarily driven by an increase in personnel expenses due to increased headcount to support business activities. G&amp;A expenses included non-cash stock compensation expense of $1.6 million and $1.1 million for the second quarter of 2025 and 2024, respectively.<\/p>\n<p align=\"justify\">\n        <strong>Net Loss:\u00a0<\/strong>Net loss was $37.0 million for the second quarter of 2025, compared to $31.7 million for the second quarter of 2024, and included net interest income of $1.7 million and $2.5 million, respectively.<\/p>\n<p align=\"justify\">\n        <strong>Cash Position:\u00a0<\/strong>Cash, cash equivalents, and marketable securities as of June 30, 2025, were $218.0 million, excluding $5.0 million of restricted cash. The Company believes that its existing cash resources will be sufficient to fund its current operating plan into the first quarter of 2027.<\/p>\n<p align=\"justify\">\n        <strong>Share Count:\u00a0<\/strong>As of June 30, 2025, the Company had 56,747,993 shares of common stock outstanding, consisting of 52,471,405 shares of voting common stock and 4,276,588 shares of non-voting common stock. In addition, the Company had 73,087,945 of pre-funded\u00a0warrants outstanding to purchase shares of voting common stock at an exercise price of $0.0001 per share. Pro forma outstanding shares as of June 30, 2025, inclusive of both common stock and pre-funded warrants, were 129,835,938.<\/p>\n<p align=\"justify\">\n        <strong>About TScan Therapeutics, Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">TScan is a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer. The Company\u2019s lead TCR-T therapy candidates are in development for the treatment of patients with hematologic malignancies to prevent relapse following allogeneic hematopoietic cell transplantation (the ALLOHA<sup>\u2122<\/sup>\u00a0Phase 1 heme trial). The Company has developed and continues to expand its ImmunoBank, the Company\u2019s repository of therapeutic TCRs that recognize diverse targets and are associated with multiple HLA types, to provide customized multiplex TCR-T therapies for patients with a variety of cancers (the PLEXI-T<sup>\u2122<\/sup>\u00a0Phase 1 solid tumor trial). The Company is currently enrolling patients into both clinical programs.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, express or implied statements regarding the Company\u2019s plans, progress, expectations, and timing relating to the Company\u2019s hematologic malignancies program, including clinical updates of the ALLOHA Phase 1 heme trial, presentation of data, opening of expansion cohorts, filing of an IND for TSC-102-A0301, and initiation of a registrational trial for TSC-101; the Company\u2019s plans, progress, expectations and timing relating to the Company\u2019s solid tumor program, including clinical updates of the PLEXI-T Phase 1 solid tumor trial, enrolling and dosing multiplex patients, and presentation of data; the progress of the hematologic malignancies and solid tumor programs being indicative or predictive of the success of each program; the Company\u2019s current and future research and development plans or expectations; the structure, timing and success of the Company\u2019s planned preclinical development, submission of INDs, and clinical trials; the potential benefits of any of the Company\u2019s proprietary platforms, multiplexing, or current or future product candidates in treating patients; the Company\u2019s ability to fund its operating plan into the first quarter of 2027 with its existing cash, cash equivalents, and marketable securities; and the Company\u2019s goals, strategy and anticipated financial performance. TScan intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, \u201cmay,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201cobjective,\u201d \u201cintend,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201ccan,\u201d \u201cwould,\u201d \u201cexpect,\u201d \u201cbelieve,\u201d \u201canticipate,\u201d \u201cproject,\u201d \u201ctarget,\u201d \u201cdesign,\u201d \u201cestimate,\u201d \u201cpredict,\u201d \u201cpotential,\u201d \u201cplan,\u201d \u201con track,\u201d or similar expressions or the negative of those terms. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. The express or implied forward-looking statements included in this release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation: the beneficial characteristics, safety, efficacy, therapeutic effects and potential advantages of TScan\u2019s TCR-T therapy product candidates; TScan\u2019s expectations regarding its preclinical studies being predictive of clinical trial results; TScan\u2019s approved INDs being indicative or predictive of bringing TScan closer to its goal of providing customized TCR-T therapies to treat patients with cancer; the timing of the launch, initiation, progress, expected results and announcements of TScan\u2019s preclinical studies, clinical trials and its research and development programs; TScan\u2019s ability to enroll patients for its clinical trials within its expected timeline; TScan\u2019s plans relating to developing and commercializing its TCR-T therapy product candidates, if approved, including sales strategy; estimates of the size of the addressable market for TScan\u2019s TCR-T therapy product candidates; TScan\u2019s manufacturing capabilities and the scalable nature of its manufacturing process; TScan\u2019s estimates regarding expenses, future milestone payments and revenue, capital requirements and needs for additional financing; TScan\u2019s expectations regarding competition; TScan\u2019s anticipated growth strategies; TScan\u2019s ability to attract or retain key personnel; TScan\u2019s ability to establish and maintain development partnerships and collaborations; TScan\u2019s expectations regarding federal, state and foreign regulatory requirements; TScan\u2019s ability to obtain and maintain intellectual property protection for its proprietary platform technology and our product candidates; the sufficiency of TScan\u2019s existing capital resources to fund its future operating expenses and capital expenditure requirements; and other factors that are described in the \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d sections of TScan\u2019s most recent Annual Report on Form 10-K and any other filings that TScan has made or may make with the SEC in the future. Any forward-looking statements contained in this release represent TScan\u2019s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Except as required by law, TScan explicitly disclaims any obligation to update any forward-looking statements.<\/p>\n<p>\n        <strong>Contacts<\/strong>\n      <\/p>\n<p>Heather Savelle<br \/> TScan Therapeutics, Inc.<br \/> VP, Investor Relations<br \/> 857-399-9840<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=W3K1P6SUUlRzDkOGENbx2XD3JWJU2-KPantfhHgLqziuS5vtUi8qkSDtSHMFZUVMoqmqIQ9k_gdL_MFmsdxryZFQGQdqZZ6hf6dTjJ2R5Mw=\" rel=\"nofollow\" target=\"_blank\">hsavelle@tscan.com<\/a><\/p>\n<p>Melissa Forst<br \/> Argot Partners<br \/> 212-600-1902<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=476R580yEnl_LLI8aRMpB3KOBx42an-vtOCQp9ahzoh80UeziinRo8S36jwMZStIpXICGqBrfZN95LpSw7-F_7M3djGckcMTiKA0FpU7f1WwYti2fvYNkNXVIFOodUuV\" rel=\"nofollow\" target=\"_blank\">TScan@argotpartners.com<\/a><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>TScan Therapeutics, Inc.<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Condensed Consolidated Balance Sheet Data<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(unaudited, in thousands, except share amount)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>June 30, 2025<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December\u00a031, 2024<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Assets<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:71%;width:71%;min-width:71%;vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Cash and cash equivalents<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: right;vertical-align: middle;vertical-align: bottom\">169,394<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: right;vertical-align: middle;vertical-align: bottom\">178,689<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Other assets<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">129,167<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">192,429<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">\n            <strong>Total assets<\/strong>\n          <\/td>\n<td style=\"border-bottom: double black 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">298,561<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">371,118<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Liabilities and Stockholders&#8217; Equity<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Total liabilities<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">121,847<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">130,148<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Total stockholders&#8217; equity<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">176,714<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">240,970<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">\n            <strong>Total liabilities and stockholders&#8217; deficit<\/strong>\n          <\/td>\n<td style=\"border-bottom: double black 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">298,561<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">371,118<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Common stock and pre-funded warrants outstanding<sup> (1)<\/sup><\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">129,835,938<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">129,678,572<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <sup>(1)<\/sup> Includes at June 30, 2025 and December 31, 2024, 73,087,945 issued and outstanding pre-funded warrants to purchase shares of voting common stock at an exercise price of $0.0001 per share.<\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>TScan Therapeutics, Inc.<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Condensed Consolidated Statements of Operations<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(unaudited, in thousands, except share and per share amounts)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"6\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30,<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Revenue:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:71%;width:71%;min-width:71%;vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Collaboration and license revenue<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: right;vertical-align: middle;vertical-align: bottom\">3,076<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: right;vertical-align: middle;vertical-align: bottom\">536<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Operating expenses:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Research and development<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">32,634<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">26,877<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">General and administrative<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">9,095<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">7,773<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Total operating expenses<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">41,729<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">34,650<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Loss from operations<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(38,653<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(34,114<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Interest and other income, net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">2,390<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">3,405<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Interest expense<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(689<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(952<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Net loss<\/strong>\n          <\/td>\n<td style=\"border-bottom: double black 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(36,952<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(31,661<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net loss per share, basic and diluted<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.28<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.28<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted average common shares outstanding\u2014basic and diluted <sup>(2)<\/sup><\/td>\n<td style=\"border-bottom: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">129,730,451<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">113,425,357<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <sup>(2)<\/sup> For the three months ended June 30, 2025 and 2024, 73,087,945 and 65,587,945 shares of the Company&#8217;s voting common stock issuable upon exercise of pre-funded warrants are included as outstanding common stock in the calculation of basic and diluted net loss per share.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUxMDA3MyM3MDg5OTY5IzIyMDcwNjk=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MGMwZjhkZjktNjNiOS00MGQ3LTgxYWEtNzg3ZDM2NmM4NWVkLTEyMTg2MjItMjAyNS0wOC0xMi1lbg==\/tiny\/TScan-Therapeutics-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Two-year relapse data from ALLOHA\u2122 Phase 1 heme trial to be presented by end of year Expects to dose first solid tumor patients with multiplex TCR-T in the third quarter of 2025 Cash, cash equivalents, and marketable securities continue to fund operations into the first quarter of 2027 WALTHAM, Mass., Aug. 12, 2025 (GLOBE NEWSWIRE) &#8212; TScan Therapeutics, Inc. (Nasdaq: TCRX), a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer, today reported financial results for the second quarter ended June 30, 2025, and provided a corporate update. \u201cWe expect to dose our first solid tumor patients with multiplex TCR-T in the third quarter of this &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;TScan Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-874398","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>TScan Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TScan Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Two-year relapse data from ALLOHA\u2122 Phase 1 heme trial to be presented by end of year Expects to dose first solid tumor patients with multiplex TCR-T in the third quarter of 2025 Cash, cash equivalents, and marketable securities continue to fund operations into the first quarter of 2027 WALTHAM, Mass., Aug. 12, 2025 (GLOBE NEWSWIRE) &#8212; TScan Therapeutics, Inc. (Nasdaq: TCRX), a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer, today reported financial results for the second quarter ended June 30, 2025, and provided a corporate update. \u201cWe expect to dose our first solid tumor patients with multiplex TCR-T in the third quarter of this &hellip; Continue reading &quot;TScan Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-12T11:27:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUxMDA3MyM3MDg5OTY5IzIyMDcwNjk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"TScan Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update\",\"datePublished\":\"2025-08-12T11:27:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\\\/\"},\"wordCount\":1720,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTUxMDA3MyM3MDg5OTY5IzIyMDcwNjk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\\\/\",\"name\":\"TScan Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update - 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(Nasdaq: TCRX), a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer, today reported financial results for the second quarter ended June 30, 2025, and provided a corporate update. \u201cWe expect to dose our first solid tumor patients with multiplex TCR-T in the third quarter of this &hellip; Continue reading \"TScan Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/","og_site_name":"Market Newsdesk","article_published_time":"2025-08-12T11:27:19+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUxMDA3MyM3MDg5OTY5IzIyMDcwNjk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"TScan Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update","datePublished":"2025-08-12T11:27:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/"},"wordCount":1720,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUxMDA3MyM3MDg5OTY5IzIyMDcwNjk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/tscan-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-update\/","name":"TScan Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update - 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