TScan Therapeutics, Inc. (TCRX)

Over the past six months, TScan Therapeutics presented positive data from the ALLOHA™ Phase 1 trial for TSC-101 at the ASH Annual Meeting in December 2025, showing improved survival rates. In November 2025 and March 2026, the company reached an agreement with the FDA on a pivotal study design for TSC-101 and strategically prioritized its heme malignancy program, extending its cash runway into the second half of 2027, which involved pausing the solid tumor PLEXI-T trial and a 30% reduction in personnel, leading to a share price drop. In February 2026, TScan completed enrollment in Cohort C of the ALLOHA™ trial, and the FDA cleared IND applications for TSC-102-A01 and TSC-102-A03. On March 4, 2026, the company reported increased revenue due to its collaboration with Amgen in its fourth quarter and full-year 2025 financial results. The share price declined by 26.60% between March 28, 2025, and March 27, 2026, and experienced a -44.78% change over six months as of May 14, 2024.

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TScan Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing T cell receptor-engineered T cell therapies for cancer and other serious diseases. Their approach involves identifying clinically-derived shared T cell antigens and off-target TCR interactions to develop effective TCR-T therapies. Major product candidates include TSC-101, a lead TCR-T therapy in Phase 1 trials for certain leukemias and myelodysplastic syndrome, TSC-102-A01 and TSC-102-A03, allogeneic and donor-derived TCR-T therapies targeting CD45 for heme malignancies, and TSC-200 series, multiplexed TCR-T therapies in early development for solid tumors. The company also has a research collaboration with Amgen Inc. to identify antigens recognized by T cells in patients with Crohn's disease.

TScan Therapeutics, Inc. is headquartered in Waltham, Massachusetts, United States, and focuses its development and treatment efforts on patients in the United States.

TScan Therapeutics' reputation has been shaped by clinical progress and strategic decisions. Positive data from the ALLOHA™ Phase 1 heme trial and FDA clearances for new drug applications have contributed positively. However, the prioritization of the hematologic malignancy program, pausing the solid tumor PLEXI-T trial, and personnel reduction led to a share price drop and raised concerns. Analysts have a generally positive outlook, with a consensus rating of "Hold" and significant upside potential, with some recommending a "Strong Buy" or "Buy" based on promising early efficacy and safety results and manufacturing improvements.

TScan Therapeutics, Inc. has a diverse ownership structure, with institutional shareholders holding 53.94% of the stock, insiders owning 29.91%, and retail investors accounting for 16.14%. As of March 31, 2026, there were 67 institutional owners holding a total of 30,852,691 shares. Lynx1 Capital Management LP is the largest individual shareholder, owning 14.09% of the shares. Other major owners include BVF Inc/il, Baker Bros. Advisors Lp, Vanguard Group Inc, BlackRock, Inc., Standard Life Aberdeen plc, Deer Management Co. LLC, Renaissance Technologies Llc, Two Sigma Investments, Lp, and DC Funds, LP.