$TCRX

TScan Therapeutics, Inc.

CIK:0001783328|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Collaboration and license revenue	$ 1,051	$ 3,076	$ 2,033	$ 5,247
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Collaboration And License Revenue	Collaboration And License Revenue	Collaboration And License Revenue	Collaboration And License Revenue
Operating expenses:
Research and development	$ 23,402	$ 32,634	$ 45,306	$ 62,422
General and administrative	8,142	9,095	16,359	17,728
Total operating expenses	31,544	41,729	61,665	80,150
Loss from operations	(30,493)	(38,653)	(59,632)	(74,903)
Other (expense) income:
Interest and other income, net	833	2,390	1,995	5,192
Interest expense	(699)	(689)	(1,388)	(1,368)
Total other income	134	1,701	607	3,824
Net loss	$ (30,359)	$ (36,952)	$ (59,025)	$ (71,079)
Net loss per share, basic	$ (0.23)	$ (0.28)	$ (0.45)	$ (0.55)
Net loss per share, diluted	$ (0.23)	$ (0.28)	$ (0.45)	$ (0.55)
Weighted average common shares outstanding- basic	129,948,878	129,730,451	129,931,225	129,704,655
Weighted average common shares outstanding-diluted	129,948,878	129,730,451	129,931,225	129,704,655
Comprehensive loss:
Net loss	$ (30,359)	$ (36,952)	$ (59,025)	$ (71,079)
Other comprehensive loss:
Unrealized loss on available-for-sale securities	0	0		(55)
Comprehensive loss	$ (30,359)	$ (36,952)	$ (59,025)	$ (71,134)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (59,025)	$ (71,079)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	1,392	1,376
Accretion of marketable securities		(2,063)
Non-cash interest expense related to note payable	245	224
Stock-based compensation	4,822	6,687
Loss on disposal of property and equipment	99
Changes in operating assets and liabilities:
Prepaid expenses and other assets	609	(489)
Right-of-use assets and lease liabilities, net	25	2,355
Accounts payable	1,888	123
Accrued expense and other liabilities	164	(2,741)
Deferred revenue	(2,033)	(5,246)
Net cash used in operating activities	(51,814)	(70,853)
Cash flows from investing activities:
Purchases of property and equipment	(563)	(2,811)
Proceeds from sale of property and equipment	28
Purchases of marketable securities		(87,472)
Maturities of marketable securities		152,250
Net cash (used in) provided by investing activities	(535)	61,967
Cash flows from financing activities:
Proceeds from issuance of common stock under employee stock purchase plan	99	191
Cash paid for debt issuance costs		(400)
Cash paid for financing costs		(200)
Net cash provided by (used in) financing activities	99	(409)
Net increase (decrease) in cash, cash equivalents and restricted cash	(52,250)	(9,295)
Cash, cash equivalents, and restricted cash - beginning of period	157,437	183,720
Cash, cash equivalents, and restricted cash - end of period	105,187	174,425
Summary of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets:
Cash and cash equivalents	100,156	169,394
Restricted cash	5,031	5,031
Total cash, cash equivalents, and restricted cash	105,187	174,425
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 1,144	1,144
Supplemental disclosure of non-cash investing and financing activities:
Purchase of property and equipment in accounts payable and accrued liabilities		$ 928

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 100,156	$ 152,406
Prepaid expenses and other current assets	4,247	4,802
Total current assets	104,403	157,208
Property and equipment, net	7,743	8,706
Right-of-use assets	54,228	57,743
Restricted cash	5,031	5,031
Long-term deposit and other assets	47	101
Total assets	171,452	228,789
Current liabilities:
Accounts payable	3,122	1,241
Accrued expenses and other current liabilities	7,832	7,668
Operating lease liability, current portion	7,717	7,167
Deferred revenue, current portion	586	2,619
Current portion of long-term debt	11,707
Total current liabilities	30,964	18,695
Operating lease liability, net of current portion	50,397	54,437
Long-term debt, net	21,072	32,534
Total liabilities	102,433	105,666
Commitments and contingencies (Note 7)
Stockholders' equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2026 and December 31, 2025
Additional paid-in capital	632,898	627,979
Accumulated other comprehensive loss
Accumulated deficit	(563,887)	(504,862)
Total stockholders' equity	69,019	123,123
Total liabilities and stockholders' equity	171,452	228,789
Voting Common Stock
Stockholders' equity:
Common stock	7	5
Non-voting Common Stock
Stockholders' equity:
Common stock	$ 1	$ 1