TScan Therapeutics (TCRX) AI Stock Analysis

• Market Cap: $99.31M
• Dividend Yield: N/A
• Average Volume (3M): 239.88K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.73
• Revenue Growth: -42.94%
• EPS Growth: N/A
• Country: US
• Employees: 200
• Sector: Healthcare
• Sector Strength: 49
• Industry: Biotechnology
• EPS (TTM): -0.28
• Shares Outstanding: 52,471,405
• 10 Day Avg. Volume: 207,420
• 30 Day Avg. Volume: 239,881
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.67
• Enterprise Value/Revenue: 9.59
• Enterprise Value/Gross Profit: 10.68
• Enterprise Value/Ebitda: -0.51
• 1Y Price Target: $8.60
• Price Target Upside: 355.03% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6

• Rating: 48 Neutral
• Price Target: $1.50 ▼(-20.63% Downside)

TScan Therapeutics' overall score is primarily impacted by its financial performance, with strong revenue growth overshadowed by significant profitability and cash flow challenges. Technical analysis provides a neutral outlook, while valuation metrics reflect the company's current unprofitability. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Clinical Efficacy

Data for TSC-100/101 continued to strongly favor the treatment arm, with a significantly lower relapse rate compared to the control arm.

Financial Position

The company ended with $218M, supporting operations into the future.

Regulatory Progress

TCRX remains on track for a meeting with the FDA to discuss details for the pivotal study of TSC-101, with study start still planned.

Negative Factors

Clinical Challenges

Initial data for the multiplex solid tumor program has been pushed out, indicating challenges in identifying suitable patients.

Market Valuation

Adjusting the valuation framework to reflect a more risk-averse market environment.

TScan Therapeutics Business Overview & Revenue Model

Company Description

TScan Therapeutics, Inc., a preclinical-stage biopharmaceutical company, develops T cell receptor-engineered T cell therapies for the treatment of patients with cancer. It is developing TSC-100 and TSC-101 for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation; and TSC-200, TSC-201, TSC-202, TSC-203, and TSC-204 for the treatment of solid tumors. The company is also developing vaccines for infectious diseases, such as SARS-CoV-2. It has a collaboration and license agreement with Novartis Institutes for BioMedical Research, Inc., to identify novel cancer antigens from the T cells of patients with a certain specific type of cancer. TScan Therapeutics, Inc. was incorporated in 2018 and is headquartered in Waltham, Massachusetts.

How the Company Makes Money

TScan Therapeutics generates revenue primarily through strategic collaborations, research and development partnerships, and potentially future product sales. The company partners with other pharmaceutical and biotech firms to advance its technology and therapies, often receiving milestone payments, research funding, and royalties as part of these agreements. Additionally, TScan may secure funding through grants and government programs aimed at supporting innovative cancer treatments. As its product candidates advance through clinical trials and potentially reach commercialization, the company anticipates generating revenue from the sale of its TCR-T cell therapies.

TScan Therapeutics Financial Statement Overview

Summary

TScan Therapeutics shows strong revenue growth but faces significant profitability challenges with negative margins. The balance sheet indicates moderate leverage and a solid equity base, yet the negative return on equity is concerning. Cash flow improvements are noted, but the company still faces cash flow difficulties.

Income Statement

TScan Therapeutics shows a significant revenue growth rate of 57.45% in the TTM, indicating strong top-line expansion. However, the company is struggling with profitability, as evidenced by negative net profit, EBIT, and EBITDA margins. The high gross profit margin of 81.70% in the TTM suggests efficient cost management, but the overall negative margins highlight ongoing operational challenges.

Balance Sheet

The company's debt-to-equity ratio of 0.36 in the TTM indicates a moderate level of leverage, which is manageable. However, the negative return on equity of -63.84% suggests that the company is not generating sufficient returns for its shareholders. The equity ratio of 59.19% reflects a solid capital structure, but the overall financial health is weakened by the negative profitability metrics.

Cash Flow

TScan Therapeutics has a positive free cash flow growth rate of 6.03% in the TTM, showing some improvement in cash generation. However, the operating cash flow to net income ratio of -4.03 indicates significant cash flow challenges. The free cash flow to net income ratio of 1.04 suggests that the company is generating slightly more free cash flow than net income, but the overall cash flow situation remains strained.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.96M	2.82M	21.05M	13.54M	10.14M	1.08M
Gross Profit	6.25M	2.82M	-67.10M	8.40M	6.81M	-19.49M
EBITDA	-130.55M	-119.74M	-80.10M	-59.91M	-45.30M	-25.00M
Net Income	-136.78M	-127.50M	-89.22M	-65.81M	-48.63M	-26.02M
Balance Sheet
Total Assets	298.56M	371.12M	272.15M	199.09M	188.11M	49.74M
Cash, Cash Equivalents and Short-Term Investments	218.04M	290.11M	192.04M	120.03M	161.41M	34.79M
Total Debt	64.40M	97.38M	92.43M	85.98M	6.04M	7.43M
Total Liabilities	121.85M	130.15M	121.28M	99.66M	27.33M	92.20M
Stockholders Equity	176.71M	240.97M	150.87M	99.43M	160.78M	-42.46M
Cash Flow
Free Cash Flow	-131.25M	-114.65M	-64.50M	-70.73M	-58.62M	-7.26M
Operating Cash Flow	-126.18M	-110.82M	-61.36M	-66.50M	-48.68M	-3.02M
Investing Cash Flow	6.91M	-52.61M	-60.76M	-4.22M	-9.94M	-4.24M
Financing Cash Flow	46.51M	208.76M	135.44M	29.36M	189.67M	288.00K

TScan Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.89
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TCRX, the sentiment is Positive. The current price of 1.89 is above the 20-day moving average (MA) of 1.77, above the 50-day MA of 1.74, and below the 200-day MA of 2.12, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 56.63 is Neutral, neither overbought nor oversold. The STOCH value of 54.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TCRX.

TScan Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.91B	-0.36	-41.71%	2.23%	23.45%	-1.86%
TCRX	48 Neutral	$99.31M	―	-63.33%	―	-42.94%	―
ADAG	47 Neutral	$99.92M	―	-63.24%	―	-87.65%	11.76%
ADVM	41 Neutral	$66.52M	―	-222.28%	―	―	1.80%
CNTX	37 Underperform	$76.23M	―	-37.25%	―	―	62.83%
RANI	32 Underperform	$33.49M	―	-1372.59%	―	―	22.94%
ELTX	30 Underperform	$169.10M	―	-9999.00%	―	―	-4.60%

TScan Therapeutics Corporate Events

TScan Therapeutics Elects New Directors at Annual Meeting

On June 30, 2025, TScan Therapeutics held its annual meeting of stockholders, where two key proposals were voted upon. The stockholders elected Stephen Biggar, Gavin MacBeath, and Garry Nicholson as Class I directors for a three-year term and ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.