TScan Therapeutics, Inc.
TCRX evidence brief
What we can confirm
- BioSniper Score:
- 7.8 / 10
- Market Cap:
- $20.9M
- Lead Asset:
- tsc-100 (Phase 3)
What it means
What to watch
Prepared research question
What matters most for TCRX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · TCRX
TScan Therapeutics (TCRX) is a clinical-stage biotechnology company developing TCR-engineered T cell (TCR-T) therapies for cancer, with a pipeline spanning hematologic malignancies and solid tumors, and is currently undergoing a strategic reorganization to focus on in vivo cell therapy for solid tumors.
Key risk: Capital insufficiency
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$20.9M
Cash Runway
—
Lead Asset
tsc-100 (Phase 3)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 4 pipeline candidates for TScan Therapeutics, Inc..
TScan Therapeutics (TCRX) is a clinical-stage biotechnology company developing TCR-engineered T cell (TCR-T) therapies for cancer, with a pipeline spanning hematologic malignancies and solid tumors, and is currently undergoing a strategic reorganization to focus on in vivo cell therapy for solid tumors.
- Cash and cash equivalents of $100.2M as of 2026-06-30 fund operations into the second quarter of 2027 [sec].
- Total revenue of $1.1M and net loss of -$30.4M for the period ending 2026-06-30 [sec].
- First patient dosed in Phase 3 ALLOHA-2™ study; topline readout expected mid-2028 [news · 2026-08-12].
- Positive initial data from Cohort C of Phase 1 ALLOHA™ study reported, with 100% (13/13) patients showing complete donor chimerism [news · 2026-09-02].
- Strategic reorganization announced in September 2026, including a ~75% workforce reduction and a pause in further enrollment in Phase 3 ALLOHA-2™ study due to insufficient capital [news · 2026-09-02].
What works
- Positive initial data from Cohort C of Phase 1 ALLOHA™ study showed 100% (13/13) patients with complete donor chimerism, validating the commercial-ready manufacturing process [news · 2026-09-02].
- Cash and cash equivalents of $100.2M as of 2026-06-30 provide a runway into Q2 2027, supporting ongoing operations [sec].
- Two in vivo-engineered TCR-T candidates for solid tumors have advanced to IND-enabling studies, with plans to initiate Phase 1 development in Q4 2027 [news · 2026-09-02].
What to weigh
- Net loss of -$30.4M for the period ending 2026-06-30, with total revenue of only $1.1M, indicating significant cash burn relative to revenue [sec].
- Paused further enrollment in Phase 3 ALLOHA-2™ study of TSC-101 due to insufficient capital, and is actively seeking collaboration partners [news · 2026-09-02].
- Workforce reduction of approximately 75% announced in September 2026, reflecting a major strategic downsizing [news · 2026-09-02].
- Shareholders' equity of $69.0M against total debt of $32.5M as of 2026-06-30, indicating a leveraged balance sheet [sec].
From the filings
Quoted directly from source documents.
Cash runway into Q2 2027
“Cash and cash equivalents fund operations into the second quarter of 2027”
News · August 12, 2026
100% complete donor chimerism in Cohort C
“100% (13/13) patients currently being tracked show complete donor chimerism”
News · September 2, 2026
Paused Phase 3 enrollment due to insufficient capital
“Pauses further enrollment in Phase 3 ALLOHA-2™ study of TSC-101 due to insufficient capital”
News · September 2, 2026
Workforce reduction of approximately 75%
“Workforce reduction of approximately 75% and strategic”
News · September 2, 2026
Catalyst timeline
- 2022-11-01 · Phase1_Start: A Phase 1/3 Study Evaluating the Efficacy and Safety of T-Cell Receptor Engineered Donor T Cells in Subjects Undergoing Allogeneic Peripheral Blood Stem Cell Transplantation (ALLOHA-2) — Initiation of the Phase 1/3 ALLOHA-2 study; topline readout expected mid-2028.
- 2024-05-06 · Phase1_Start: A Phase 1 Basket Study Evaluating the Safety and Feasibility of T-Plex, Autologous Customized T Cell Receptor-Engineered T Cells Targeting Multiple Peptide/HLA Antigens in Participants With Antigen-positive Locally Advanced (Unresectable) or Metastatic Solid Tumors — Initiation of the Phase 1 PLEXI-T solid tumor study.
- 2026-06-18 · Phase3_Start: A Phase 1/3 Study Evaluating the Efficacy and Safety of T-Cell Receptor Engineered Donor T Cells in Subjects Undergoing Allogeneic Peripheral Blood Stem Cell Transplantation — Start of Phase 3 portion of the ALLOHA-2 study; enrollment later paused due to insufficient capital.
Risks & what to watch (4)›
Key risks
- Capital insufficiency — Phase 3 ALLOHA-2™ study paused due to insufficient capital; seeking collaboration partners [news · 2026-09-02].
- Workforce reduction — Approximately 75% workforce reduction announced in September 2026, impacting operational capacity [news · 2026-09-02].
- Low revenue generation — Total revenue of $1.1M against net loss of -$30.4M as of 2026-06-30, indicating heavy reliance on funding [sec].
- Competitive landscape — Pipeline candidates face numerous competitors in Phase 2/3 for hematologic malignancies [pipeline].
What to watch
- Topline readout from Phase 3 ALLOHA-2™ study expected mid-2028 [news · 2026-08-12].
- Initiation of Phase 1 development for in vivo-engineered TCR-T candidates for solid tumors planned in Q4 2027 [news · 2026-09-02].
- Outcome of strategic collaboration partner search for ALLOHA-2™ study [news · 2026-09-02].
- Cash runway into Q2 2027; monitor cash position and burn rate [sec].
Sources: Catalysts · News · Pipeline · Generated October 11, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 1.48 · 0% dilution
Lead: Phase 3
4 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Financials
Short Interest
as of Apr 28, 2026- % of float
- 2.4%
- Days to cover
- 0.9
- Shares short
- 942,877
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
TCRX short interestGovernance
Frequently asked questions
What is the AI investment thesis for TScan Therapeutics, Inc.?
TScan Therapeutics (TCRX) is a clinical-stage biotechnology company developing TCR-engineered T cell (TCR-T) therapies for cancer, with a pipeline spanning hematologic malignancies and solid tumors, and is currently undergoing a strategic reorganization to focus on in vivo cell therapy for solid tumors.
What is TScan Therapeutics, Inc.'s lead drug candidate?
TScan Therapeutics, Inc.'s most advanced tracked candidate is tsc-100 (Phase 3) for AML.
Who is the CEO of TScan Therapeutics, Inc.?
Dr. Gavin MacBeath Ph.D. is the chief executive officer of TScan Therapeutics, Inc. (TCRX).
Where is TScan Therapeutics, Inc. headquartered?
TScan Therapeutics, Inc. (TCRX) is headquartered in Waltham, MA, United States.
What therapeutic areas does TScan Therapeutics, Inc. focus on?
TScan Therapeutics, Inc. develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.