TScan Therapeutics (TCRX)
NASDAQ:TCRX
Want to see TCRX full AI Analyst Report?
Top Page
TScan Therapeutics
(NASDAQ:TCRX)
Select Model
Select Model
Rating:43Neutral
Price Target:
$0.89
▼(-25.38% Downside)
Action:Reiterated
Date:05/23/26
The score is primarily weighed down by weak financial performance—large ongoing losses and substantial cash burn with a weakening equity base—suggesting continued dependence on external funding. Technicals also remain bearish with the stock below major moving averages and negative MACD. Valuation provides limited support due to negative earnings and no dividend, and the increased authorized shares heightens dilution risk.
Positive Factors
High gross margin
Very high gross margins (~92%) indicate a structurally low direct cost base for productized outputs. For a platform-focused biotech, durable high margins support strong operating leverage as collaboration or product revenues scale, improving long-term path to profitability once commercialization begins.
Negative Factors
Heavy cash burn
Sustained operating cash outflows (~-$122M) and free cash flow (~-$125M) indicate ongoing high cash consumption. This structural burn requires recurrent external financing, limits strategic optionality, and raises the risk of program delays or reprioritization absent new capital, affecting multi‑quarter resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin
Very high gross margins (~92%) indicate a structurally low direct cost base for productized outputs. For a platform-focused biotech, durable high margins support strong operating leverage as collaboration or product revenues scale, improving long-term path to profitability once commercialization begins.
Read all positive factors
TScan Therapeutics (TCRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$60.12M
Dividend YieldN/A
Average Volume (3M)476.93K
Price to Earnings (P/E)―
Beta (1Y)1.97
Revenue Growth106.65%
EPS Growth12.20%
CountryUS
Employees200
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.96
Shares Outstanding61,074,230
10 Day Avg. Volume455,904
30 Day Avg. Volume476,927
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)1.05
Price to Sales (P/S)12.58
P/FCF Ratio-0.93
Enterprise Value/Market Cap0.32
Enterprise Value/Revenue2.13
Enterprise Value/Gross Profit2.30
Enterprise Value/Ebitda-0.16
Forecast
1Y Price Target
$6.00Price Target Upside404.20% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-1.02
Revenue Forecast (FY)$7.56M
TScan Therapeutics Business Overview & Revenue Model
Company Description
TScan Therapeutics, Inc. is a biopharmaceutical enterprise, currently in its preclinical development stage, focused on engineering T cell receptor (TCR) therapies to combat various cancers. The company's pipeline features programs like TSC-100 and...
How the Company Makes Money
TScan Therapeutics is a clinical-stage biotech and therefore has historically not depended on recurring product sales; instead, its revenue, when reported, is primarily generated through collaboration and licensing arrangements (e.g., upfront paym...
TScan Therapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.14M | 10.32M | 2.82M | 21.05M | 13.54M | 10.14M |
| Gross Profit | 8.44M | 7.46M | 2.82M | 21.05M | 13.54M | 10.14M |
| EBITDA | -118.64M | -124.13M | -119.74M | -80.10M | -59.91M | -45.30M |
| Net Income | -124.31M | -129.77M | -127.50M | -89.22M | -66.22M | -48.63M |
Balance Sheet | ||||||
| Total Assets | 201.99M | 228.79M | 371.12M | 272.15M | 199.09M | 188.11M |
| Cash, Cash Equivalents and Short-Term Investments | 128.06M | 152.41M | 290.11M | 192.04M | 120.03M | 161.41M |
| Total Debt | 92.54M | 94.14M | 97.38M | 92.43M | 85.98M | 6.04M |
| Total Liabilities | 105.07M | 105.67M | 130.15M | 121.28M | 99.66M | 27.33M |
| Stockholders Equity | 96.92M | 123.12M | 240.97M | 150.87M | 99.43M | 160.78M |
Cash Flow | ||||||
| Free Cash Flow | -124.96M | -139.73M | -114.65M | -64.50M | -70.73M | -58.62M |
| Operating Cash Flow | -122.01M | -135.32M | -110.82M | -61.36M | -66.50M | -48.68M |
| Investing Cash Flow | 95.77M | 109.37M | -52.61M | -60.76M | -4.22M | -9.94M |
| Financing Cash Flow | 189.00K | -336.00K | 208.76M | 135.44M | 29.36M | 189.67M |
TScan Therapeutics Technical Analysis
Negative
1.19
Price Trends
1.09
Negative
1.07
Negative
1.27
Negative
Market Momentum
-0.05
Positive
41.70
Neutral
23.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TCRX, the sentiment is Negative. The current price of 1.19 is above the 20-day moving average (MA) of 0.98, above the 50-day MA of 1.09, and below the 200-day MA of 1.27, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 41.70 is Neutral, neither overbought nor oversold. The STOCH value of 23.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TCRX.
TScan Therapeutics Risk Analysis
TScan Therapeutics disclosed 106 risk factors in its most recent earnings report. TScan Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TScan Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $241.62M | -3.53 | -41.31% | ― | ― | 73.45% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $263.39M | -2.09 | -53.61% | ― | -100.00% | 44.78% | |
47 Neutral | $205.88M | -0.93 | -124.06% | ― | ― | 39.66% | |
45 Neutral | $269.94M | -0.74 | 309.79% | ― | -35.61% | -68.92% | |
44 Neutral | $50.86M | -1.07 | -39.76% | ― | ― | 40.85% | |
43 Neutral | $60.12M | -0.96 | -91.94% | ― | 106.65% | 12.20% |
* Healthcare Sector Average
TCRX
TScan Therapeutics
0.92
-0.53
-36.55%
ZNTL
Zentalis Pharmaceuticals
3.70
2.40
184.62%
ALXO
ALX Oncology Holdings
1.53
1.07
232.61%
IKT
Inhibikase Therapeutics
1.83
0.17
10.24%
SRZN
Surrozen
23.25
14.23
157.76%
TIL
Instil Bio
7.50
-22.34
-74.87%
TScan Therapeutics Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
TScan Therapeutics Expands Authorized Shares After Stockholder Vote
Positive
May 22, 2026
On May 20, 2026, TScan Therapeutics, Inc. held its 2026 Annual Meeting of Stockholders, where shareholders elected Katina Dorton and R. Keith Woods as Class II directors to three-year terms ending in 2029 and ratified Deloitte Touche LLP as the i...
Executive/Board Changes
TScan Therapeutics Consolidates Finance Leadership After Officer Resignation
Neutral
Apr 2, 2026
On March 31, 2026, TScan Therapeutics, Inc. said Vice President of Finance and principal accounting officer Leiden Dworak had resigned, effective April 10, 2026, adding that his departure did not stem from any disagreement over the company’s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.