A Business at a Glance
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We are a fully integrated clinical-stage biotechnology company focused on developing a robust pipeline of T cell receptor (TCR)-engineered T cell, or TCR-T, therapies for the treatment of patients with cancer. Our lead product candidate, TSC-101, is in development for the treatment of patients with acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS) who are undergoing allogeneic hematopoietic cell transplantation (HCT). The product is designed to eliminate residual disease and promote complete donor chimerism, thereby preventing relapse. TSC-101 targets HA-2, an antigen that is present on all blood cells, malignant or benign, in patients with the HLA type A*02:01. We are currently conducting a Phase 1 clinical study of TSC-101 (the ALLOHA™ trial, NCT05473910) and during the fourth quarter of 2025, following a productive End-of-Phase meeting with the U.S.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | - | - | - | - |
| Net Income | -130M | -130M | -127M | -89M | -66M | -49M |
| EPS | $-1.00 | $-1.00 | $-1.14 | $-1.36 | $-2.75 | $-4.17 |
| Free Cash Flow | -140M | -140M | -115M | -65M | -71M | -59M |
| ROIC | -3300.3% | -83.4% | -46.7% | -50.2% | -51.4% | -30.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.26 | 0.26 | 0.15 | 0.22 | 0.29 | 0.17 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -136M | -136M | -135M | -93M | -67M | -49M |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | -105.4% | -71.3% | -52.9% | -59.1% | -50.9% | -82.2% |
| Shares Outstanding | 57M | 57M | 112M | 66M | 24M | 12M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 1.1M | N/A | N/A | N/A | N/A | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 21M | 45M | 60M | 88M | 107M | 114M | 114M |
| SG&A | 6.7M | 14M | 20M | 26M | 30M | 32M | 32M |
| EBIT | -26M | -49M | -67M | -93M | -135M | -136M | -136M |
| Op. Margin | -2417.8% | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | N/A | -49M | -66M | -89M | -127M | -130M | -130M |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | -2K | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | N/A | -30.2% | -51.4% | -50.2% | -46.7% | -83.4% | N/M |
| ROE | N/A | -82.2% | -50.9% | -59.1% | -52.9% | -71.3% | -105.4% |
| ROA | N/A | -40.9% | -34.2% | -32.8% | -34.4% | -43.3% | -56.7% |
| Cash Flow | |||||||
| Op. Cash Flow | -3.0M | -49M | -67M | -61M | -111M | -135M | -135M |
| Free Cash Flow | -7.3M | -59M | -71M | -65M | -115M | -140M | -140M |
| Owner Earnings | -5.3M | -56M | -81M | -72M | -124M | -150M | -150M |
| CapEx | 4.2M | 9.9M | 4.2M | 3.1M | 3.8M | 4.4M | 4.4M |
| Maint. CapEx | 1.8M | 5.1M | 10M | 5.4M | 4.1M | 2.9M | 2.9M |
| Growth CapEx | 2.5M | 4.9M | 0 | 0 | 0 | 1.5M | 1.5M |
| D&A | 1.8M | 5.1M | 10M | 5.4M | 4.1M | 2.9M | 2.9M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 515K | 2.5M | 4.6M | 5.2M | 9.5M | 12M | 12M |
| Debt Repayment | 0 | 0 | 324K | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||
| Net Debt | N/A | N/A | -91M | -159M | -255M | -272M | -120M |
| Cash & Equiv. | 35M | 161M | 120M | 133M | 179M | 152M | 152M |
| Long-Term Debt | N/A | N/A | 29M | 27M | 32M | 33M | 33M |
| Debt/Equity | -0.77 | 0.17 | 0.29 | 0.22 | 0.15 | 0.26 | 0.26 |
| Interest Coverage | N/A | N/A | -56.7 | -24.9 | -36.9 | -49.0 | -49.0 |
| Equity | -42M | 161M | 99M | 151M | 241M | 123M | 123M |
| Total Assets | 50M | 188M | 199M | 272M | 371M | 229M | 229M |
| Total Liabilities | 33M | 27M | 100M | 121M | 130M | 106M | 106M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -44M | -92M | -158M | -248M | -375M | -505M | -505M |
| Working Capital | 19M | 144M | 107M | 164M | 257M | 139M | 139M |
| Current Assets | 36M | 166M | 124M | 194M | 293M | 157M | 157M |
| Current Liabilities | 17M | 21M | 17M | 30M | 36M | 19M | 19M |
| Per Share Data | |||||||
| EPS | -28.52 | -4.17 | -2.75 | -1.36 | -1.14 | -1.00 | -1.00 |
| Owner EPS | N/A | -4.83 | -3.38 | -1.10 | -1.11 | -2.63 | -2.63 |
| Book Value | N/A | 13.79 | 4.13 | 2.30 | 2.15 | 2.16 | 2.16 |
| Cash Flow/Share | N/A | -4.17 | -2.76 | -0.94 | -0.99 | -2.38 | -2.23 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | N/A | 11.7M | 24.1M | 65.6M | 111.8M | 56.9M | 56.9M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | -1.1 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 0.4 | 0.4 | 2.6 | 1.4 | 0.5 | 0.5 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | N/A | -103.9% | -187.1% | -16.4% | -33.5% | -231.7% | -231.7% |
| Market Cap | N/A | 56M | 38M | 392M | 342M | 60M | 60M |
| Avg. Price | N/A | 8.25 | 3.23 | 2.97 | 6.20 | 1.72 | 1.06 |
| Year-End Price | N/A | 4.84 | 1.57 | 5.98 | 3.06 | 1.06 | 1.06 |
TScan Therapeutics, Inc. passes 0 of 9 quality checks, indicating weak fundamentals.
TScan Therapeutics, Inc. (TCRX) has a 5-year average return on invested capital (ROIC) of -52.4%. This is below average and may indicate limited pricing power.
TScan Therapeutics, Inc. (TCRX) has a market capitalization of $60M. It is classified as a small-cap stock.
TScan Therapeutics, Inc. (TCRX) does not currently pay a regular dividend.
TScan Therapeutics, Inc. (TCRX) operates in the Biological Products, (No Diagnostic Substances) industry, within the Healthcare sector.
TScan Therapeutics, Inc. (TCRX) generated $-140 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
TScan Therapeutics, Inc. (TCRX) has a debt-to-equity ratio of 0.26. This indicates a conservatively financed balance sheet.
TScan Therapeutics, Inc. (TCRX) reported earnings per share (EPS) of $-1.00 in its most recent fiscal year.
TScan Therapeutics, Inc. (TCRX) has a return on equity (ROE) of -71.3%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 6 years of financial data for TScan Therapeutics, Inc. (TCRX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TScan Therapeutics, Inc. (TCRX) has a book value per share of $2.16, based on its most recent annual SEC filing.