TScan Therapeutics, Inc.(TCRX)Earnings, Financials & Key Ratios

TCRX•NASDAQ

$1.07

Price updated Jul 7, 2026

SectorHealthcare IndustryBiotechnology Sub-IndustryCell and Gene Therapy Developers

AboutTScan 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.Show more

Revenue$10M+266.7%
EBITDA-$133M-1.7%
Net Income-$130M-1.8%
EPS (Diluted)-1.00+12.3%
Gross Margin72.24%-27.8%
EBITDA Margin-1287.62%+72.3%
Operating Margin-1315.38%+72.5%
Net Margin-1256.81%+72.2%
ROE-71.28%-9.5%

TCRX Price & Volume

TScan Therapeutics, Inc. (TCRX) stock price & volume — 10-year historical chart

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Clinical Pipeline Development Drives Persistent Cash Burn

Investment Thesis • Updated 2026Q1

VerdictNegative

Growth:Mixed

Profitability:Negative

Financial:Adequate

Cash Flow:Burning

Primary Risk:Clinical milestone funding dependency

Key Thesis Takeaways

TScan Therapeutics remains a high-risk, pre-commercial biotechnology entity whose valuation is tethered to the successful execution of its broad hematologic and solid tumor pipeline.
While the company maintains a current ratio of 6.65, its reliance on episodic milestone-based revenue creates significant earnings volatility and obscures the underlying operational deficit.
Investors should monitor the company's ability to secure non-dilutive funding or reach clinical inflection points before its $128.1M cash position is further eroded by ongoing R&D expenditures.

Verdict Logic

the company's ongoing cash burn, which resulted in a $24.3M free cash flow deficit in 2026Q1, combined with a lack of recurring commercial revenue, presents a high risk of future shareholder dilution.

TCRX Growth Metrics

TScan Therapeutics, Inc. (TCRX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years56.92%

3 Years-8.63%

TTM106.65%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM5.46%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM11.93%

Return on Capital

10 Years-46.3%

5 Years-45.54%

3 Years-46.86%

Last Year-49.82%

TCRX Recent Earnings

TScan Therapeutics, Inc. (TCRX) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 8/12 qtrs (67%)●Beat Revenue 5/12 qtrs (42%)

Q2 2026Latest

May 6, 2026

Metric

Actual

Est

EPS

$0.22+0.0%

$0.22

Rev

$982,000-60.7%

$3M

Q2 2026

Mar 4, 2026

Metric

Actual

Est

EPS

$0.18+33.3%

$0.27

Rev

$3M+5.4%

$2M

Q4 2025

Nov 12, 2025

Metric

Actual

Est

EPS

$0.28+20.0%

$0.35

Rev

$3M+29.4%

$2M

Q3 2025

Aug 12, 2025

Metric

Actual

Est

EPS

$0.28+0.0%

$0.28

Rev

$3M+65.4%

$2M

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 6, 2026	$0.22vs $0.22+0.0%	$982,000vs $3M-60.7%
Q2 2026	Mar 4, 2026	$0.18vs $0.27+33.3%	$3Mvs $2M+5.4%
Q4 2025	Nov 12, 2025	$0.28vs $0.35+20.0%	$3Mvs $2M+29.4%
Q3 2025	Aug 12, 2025	$0.28vs $0.28+0.0%	$3Mvs $2M+65.4%

Based on last 12 quarters of dataView full earnings history →

Latest TCRX News

Recent stock market news and headlines for TScan Therapeutics, Inc. (TCRX)

GlobeNewsWire·Jun 24, 2026

TScan Therapeutics to Participate in the H.C. Wainwright 4th Annual Cell Therapy Virtual Conference

WALTHAM, Mass., June 24, 2026 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (Nasdaq: TCRX), a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer, today announced that the Company will participate in a fireside chat at the H.C. Wainwright 4th Annual Cell Therapy Virtual Conference on Tuesday, June 30, 2026 at 11:30 a.m. Eastern Time.

GlobeNewsWire·Jun 22, 2026

TScan Therapeutics Announces Positive Initial Data from Cohort C of Ongoing ALLOHA™ Phase 1 Study Evaluating TSC-101 in Patients with Heme Malignancies Undergoing Allogeneic Hematopoietic Cell Transplantation

11 of 14 patients dosed had complete donor chimerism within ~three weeks of receiving first infusion of TSC-101; an additional two had improving chimerism following TSC-101

Peers Comparison

Key metrics vs top competitors for TScan Therapeutics, Inc. (TCRX)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
TCRXTScan Therapeutics, Inc.Current	$1.07	$139.01M	-1.07	266.65%	-1256.81%	-71.28%	—
IMVTImmunovant, Inc.	$40.09	$8.23B	-14.47	—	—	-68.16%	—
TCRTAlaunos Therapeutics, Inc.	$2.20	$5.37M	-1.00	-50%	-136966.67%	-165.94%	—
AGENAgenus Inc.	$3.50	$145.75M	-1029.41	10.37%	52.16%	—	—
CABACabaletta Bio, Inc.	$3.10	$505.47M	-1.89	—	—	-131.58%	—
KYMRKymera Therapeutics, Inc.	$119.24	$9.74B	-32.31	-16.72%	-612.17%	-25.02%	—

Compare TCRX vs Peers

TScan Therapeutics, Inc. (TCRX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs IMVT

Most directly comparable listed peer for TCRX.

Scale Benchmark

vs TMO

Larger-name benchmark to compare TCRX against a more recognizable public peer.

Peer Set

Compare Top 5

vs IMVT, TCRT, AGEN, CABA

TCRX SEC Filings & Documents

TScan Therapeutics, Inc. (TCRX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

May 6, 2026·SEC

Material company update

Apr 2, 2026·SEC

Material company update

Mar 4, 2026·SEC

10-K Annual Reports

FY 2026

Mar 4, 2026·SEC

FY 2025

Mar 5, 2025·SEC

FY 2024

Mar 6, 2024·SEC

10-Q Quarterly Reports

FY 2026

May 6, 2026·SEC

FY 2025

Nov 12, 2025·SEC

FY 2025

Aug 12, 2025·SEC

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TCRX Frequently Asked Questions

TScan Therapeutics, Inc. (TCRX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is TScan Therapeutics, Inc.'s revenue?

TScan Therapeutics, Inc. (TCRX) reported $9.1M in revenue for fiscal year 2025.

How fast is TScan Therapeutics, Inc. growing?

TScan Therapeutics, Inc. (TCRX) grew revenue by 266.7% over the past year. This is strong growth.

Is TCRX profitable?

TScan Therapeutics, Inc. (TCRX) reported a net loss of $124.3M for fiscal year 2025.

Dividend & Returns

What is TCRX's return on equity?

TScan Therapeutics, Inc. (TCRX) has a return on equity (ROE) of -71.3%. Negative ROE indicates the company is unprofitable.

What is TScan Therapeutics, Inc.'s free cash flow?

TScan Therapeutics, Inc. (TCRX) had negative free cash flow of $125.0M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in TCRX back in 2019?

Total return calculator · dividends reinvested · 7+ years of data

See returns →

Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q2 2026Latest

May 6, 2026

$0.22vs $0.22+0.0%

$982,000vs $3M-60.7%

Q2 2026

Mar 4, 2026

$0.18vs $0.27+33.3%

$3Mvs $2M+5.4%

Q4 2025

Nov 12, 2025

$0.28vs $0.35+20.0%

$3Mvs $2M+29.4%

Q3 2025

Aug 12, 2025

$0.28vs $0.28+0.0%

$3Mvs $2M+65.4%

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

TCRXTScan Therapeutics, Inc.Current

$1.07

$139.01M

-1.07

266.65%

-1256.81%

-71.28%

—

IMVTImmunovant, Inc.

$40.09

$8.23B

-14.47

—

-68.16%

—

TCRTAlaunos Therapeutics, Inc.

$2.20

$5.37M

-1.00

-50%

-136966.67%

-165.94%

—

AGENAgenus Inc.

$3.50

$145.75M

-1029.41

10.37%

52.16%

—

CABACabaletta Bio, Inc.

$3.10

$505.47M

-1.89

—

-131.58%

—

KYMRKymera Therapeutics, Inc.

$119.24

$9.74B

-32.31

-16.72%

-612.17%

-25.02%

—