TScan Therapeutics (TCRX) AI Stock Analysis

• Market Cap: $59.02M
• Dividend Yield: N/A
• Average Volume (3M): 740.85K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.92
• Revenue Growth: -10.03%
• EPS Growth: 11.06%
• Country: US
• Employees: 200
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.28
• Shares Outstanding: 52,471,405
• 10 Day Avg. Volume: 556,620
• 30 Day Avg. Volume: 740,851
• PEG Ratio: 0.17
• Price to Book (P/B): 1.41
• Price to Sales (P/S): 120.90
• P/FCF Ratio: -2.97
• Enterprise Value/Market Cap: 2.50
• Enterprise Value/Revenue: 6.74
• Enterprise Value/Gross Profit: 7.84
• Enterprise Value/Ebitda: -0.43
• 1Y Price Target: $5.50
• Price Target Upside: 428.85% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): -1.2
• Revenue Forecast (FY): $10.69M

• Rating: 48 Neutral
• Price Target: $0.99 ▼(-4.81% Downside)

TScan Therapeutics faces significant challenges with profitability and cash flow, reflected in a low financial performance score. The technical analysis indicates a bearish trend, though there is potential for a rebound. Valuation is weak due to negative earnings. Corporate events provide some positive outlook with strategic shifts and retention programs, but also highlight operational challenges. Overall, the stock score reflects a cautious outlook with potential for improvement if strategic initiatives succeed.

Positive Factors

Promising Clinical Trial Results

Positive trial results for TSC-101 in hematologic malignancies suggest potential for successful treatment, enhancing long-term growth prospects in oncology.

Strategic Shift to Hematologic Malignancies

Focusing on hematologic malignancies aligns with regulatory feedback and could streamline resources, potentially improving long-term financial and operational outcomes.

Employee Retention Program

The retention program aims to stabilize operations and ensure leadership continuity, crucial for advancing pivotal trials and maintaining strategic momentum.

Negative Factors

Negative Profitability Metrics

Persistent negative profitability metrics indicate ongoing operational challenges, which could hinder long-term financial stability and growth potential.

Cash Flow Challenges

Cash flow challenges may limit the company's ability to invest in R&D and strategic initiatives, potentially impacting future growth and competitiveness.

Workforce Reduction

While cost-saving, the workforce reduction could disrupt operations and morale, affecting productivity and the company's ability to execute its strategic plans.

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 through a combination of research and development collaborations, licensing agreements, and potentially through future sales of its therapeutic products once they receive regulatory approval. The company may enter into strategic partnerships with larger pharmaceutical companies, which can provide upfront payments, milestone payments based on the achievement of specific development goals, and royalties on future sales of the products developed from these collaborations. Additionally, TScan may receive funding through grants and other financial support aimed at advancing its research initiatives.

TScan Therapeutics Financial Statement Overview

Summary

TScan Therapeutics is experiencing strong revenue growth, but profitability remains a significant challenge with negative margins across key metrics. The balance sheet shows a moderate level of leverage and a solid equity base, but the negative return on equity is concerning. Cash flow improvements are noted, yet the company faces ongoing cash flow difficulties. Overall, while there are positive growth indicators, the financial health is impacted by profitability and cash flow issues.

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	21.87M	2.82M	21.05M	13.54M	10.14M	1.08M
Gross Profit	18.80M	2.82M	21.05M	13.54M	10.14M	-19.49M
EBITDA	-342.27M	-119.74M	-80.10M	-59.91M	-45.30M	-25.00M
Net Income	-356.62M	-127.50M	-89.22M	-66.22M	-48.63M	-26.13M
Balance Sheet
Total Assets	262.23M	371.12M	272.15M	199.09M	188.11M	49.74M
Cash, Cash Equivalents and Short-Term Investments	184.45M	290.11M	192.04M	120.03M	161.41M	34.79M
Total Debt	95.62M	97.38M	92.43M	85.98M	6.04M	7.43M
Total Liabilities	118.20M	130.15M	121.28M	99.66M	27.33M	92.20M
Stockholders Equity	144.02M	240.97M	150.87M	99.43M	160.78M	-42.46M
Cash Flow
Free Cash Flow	-339.48M	-114.65M	-64.50M	-70.73M	-58.62M	-7.26M
Operating Cash Flow	-326.39M	-110.82M	-61.36M	-66.50M	-48.68M	-3.02M
Investing Cash Flow	308.82M	-52.61M	-60.76M	-4.22M	-9.94M	-4.24M
Financing Cash Flow	90.56M	208.76M	135.44M	29.36M	189.67M	288.00K

TScan Therapeutics Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.04
• 50DMA: Negative
• 100DMA: Negative
• 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 Neutral. The current price of 1.04 is above the 20-day moving average (MA) of 1.00, below the 50-day MA of 1.35, and below the 200-day MA of 1.57, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 47.89 is Neutral, neither overbought nor oversold. The STOCH value of 34.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TCRX	48 Neutral	$59.02M	-0.95	-76.44%	―	-10.03%	11.06%
ZNTL	46 Neutral	$99.71M	-0.65	-49.18%	―	-33.76%	17.54%
IKT	46 Neutral	$200.09M	-3.51	-131.71%	―	-100.00%	79.01%
SRZN	43 Neutral	$196.24M	-1.02	―	―	-63.96%	-28.50%
ALXO	39 Underperform	$73.74M	-0.66	-118.95%	―	―	31.98%
TIL	34 Underperform	$77.72M	-0.99	-50.60%	―	―	1.40%

TScan Therapeutics Corporate Events

TScan Therapeutics Approves Key Employee Retention Program

On November 25, 2025, TScan Therapeutics‘ Board of Directors approved a retention program to secure key employees, including its CEO, CFO, and CMO, with cash and equity-based awards. This initiative aims to support the company’s operations and advance the pivotal trial of TSC-101, potentially impacting its market position and stakeholder interests.

TScan Therapeutics Shifts Focus to Hematologic Malignancies

On November 3, 2025, TScan Therapeutics announced a strategic shift to prioritize its hematologic malignancies program, pausing enrollment in its solid tumor trial and focusing on preclinical efforts for solid tumors and autoimmunity target discovery. This decision, following a positive meeting with the FDA regarding the pivotal trial design for TSC-101, includes a 30% workforce reduction, aiming to save $45 million annually in 2026 and 2027, and extends the company’s cash runway into the second half of 2027.

TScan Therapeutics Updates Corporate Milestones and Strategies

On September 9, 2025, TScan Therapeutics released an updated corporate presentation outlining revised development and operational milestones, including adjusted timelines for its solid tumor program and updates on its pipeline for hematologic malignancies. The presentation, intended for investors and stakeholders, reflects the company’s ongoing efforts in target discovery initiatives in autoimmunity and highlights its strategic focus on advancing its TCR-T therapy candidates. This update is significant for stakeholders as it provides insights into TScan’s future growth strategies and its potential impact on the biotechnology industry.