TScan Reports Q1 Revenue of $982,000, Below Consensus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 06 2026
0mins
Reports Q1 revenue $982,000, consensus $2.5M. "2026 will be a critical year for TScan as we advance our mission to deliver transformative T cell therapies to patients. We have multiple key milestones on the horizon, anchored around the planned initiation of our Phase 3 study of TSC-101 in patients with AML and MDS undergoing allogenic hematopoietic cell transplantation," said Gavin MacBeath, Chief Executive Officer. "We look forward to sharing initial data from Cohort C of our Phase 1 ALLOHA trial, where we have enrolled and treated over 10 patients with our commercial-ready manufacturing process. The robust enrollment in this cohort underscores strong physician support, providing us greater conviction as we prepare to launch the pivotal study."
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Analyst Views on TCRX
Wall Street analysts forecast TCRX stock price to rise
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Current: 0.865
Low
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Averages
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High
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About TCRX
TScan Therapeutics, Inc. is a clinical-stage biotechnology company. The Company is focused on developing a robust pipeline of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer. The Company's lead product candidate, TSC-101, is in development for the treatment of patients with acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS) who are undergoing allogeneic hematopoietic cell transplantation (HCT). The Company is also developing multiple TCR-T therapy product candidates for the treatment of solid tumors. The Company builds a collection of therapeutic TCRs that recognize cancer-specific targets and are associated with multiple human leukocyte antigen (HLA) types, to provide customized multiplex TCR-T treatments for patients with a variety of solid tumors. Its solid tumors programs include TSC-200, TSC-201, TSC-202, TSC-203, and TSC-204.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
TScan Therapeutics Reports Progress on TSC-101 Clinical Trials
- Clinical Trial Results: Among the 14 patients treated with TSC-101, 11 achieved complete donor chimerism approximately three weeks after their first infusion, indicating the therapy's potential in treating hematologic malignancies and possibly improving long-term patient outcomes.
- Safety and Tolerability: The infusions of TSC-101 were generally well-tolerated, with safety profiles consistent with those observed in Cohort A, suggesting promising applications in high-risk patient populations and laying the groundwork for future clinical adoption.
- Trial Progress: The company is on track to enroll its first patient in the Phase 3 ALLOHA-2™ study of TSC-101 this month, reflecting positive advancements in clinical development that could expedite the product's market entry.
- Expert Event: The company will host a virtual KOL event on June 22 featuring renowned medical experts discussing initial data from Cohort C and future plans for TSC-101, aimed at enhancing market awareness and investor confidence in the therapy.
See More
Cellares and TScan Announce Automated Manufacturing Agreement
- Automated Manufacturing Agreement: Cellares and TScan have entered into an agreement to evaluate the application of Cellares' Cell Shuttle® and Cell Q™ platforms for TSC-101, aiming to provide a scalable and cost-effective manufacturing pathway for acute myeloid leukemia patients, which is expected to significantly reduce production costs and enhance efficiency.
- Clinical Trial Preparation: TScan plans to initiate a pivotal trial for TSC-101 in Q2 2026, with Cellares' automated platform providing essential manufacturing support, thereby ensuring production capacity and quality control during the clinical phase, enhancing patient access to treatment.
- Technological Advantages: Cellares' automated systems are designed to reduce process variability and labor intensity, ensuring consistent execution across different regions and production batches, which is anticipated to deliver the economic and reliability requirements for large-scale commercial production.
- Market Potential: By incorporating TCR-T cell therapies into its portfolio, Cellares further expands its market share in the cell therapy sector, expected to meet the growing patient demand, particularly among those with acute myeloid leukemia and myelodysplastic syndromes.
See More
TScan Therapeutics Q1 Earnings Miss Expectations
- Disappointing Earnings: TScan Therapeutics reported a Q1 GAAP EPS of -$0.22, missing expectations by $0.01, indicating ongoing challenges in profitability for the company.
- Significant Revenue Decline: The company generated $1M in revenue for the first quarter, a 54.5% year-over-year decrease, falling short of the expected $1.5M, reflecting weak market demand and insufficient sales strategies.
- Stable Cash Position: As of March 31, 2026, TScan's cash and cash equivalents stood at $128.1 million, excluding $5.0 million in restricted cash, indicating relative stability in its financial resources.
- Sufficient Funding Outlook: TScan believes its existing cash resources will be adequate to fund its operating plan into the second half of 2027, suggesting that the company will not face immediate liquidity risks.
See More
Global Oncology Market Set for Rapid Growth
- Market Size Forecast: The global oncology market is projected to reach $279.98 billion in 2026 and grow to $748.17 billion by 2035, indicating a structural shift from single-agent treatments to combination therapies and next-generation cell therapies.
- Immuno-Oncology Expansion: The immuno-oncology segment is expected to expand from $65.22 billion in 2025 to $170.19 billion by 2032, as approvals of combination therapies convert previously resistant tumors into viable treatment targets, driving market demand.
- Oncolytics Biotech New Data: Oncolytics Biotech will present new data at the 2026 American Association for Cancer Research Annual Meeting, indicating that its lead drug pelareorep can make tumors more susceptible to immunotherapy, particularly showing positive results in breast and gastrointestinal cancer trials.
- Clinical Trial Progress: Oncolytics' REO 033 trial demonstrated a total survival of 27 months in second-line RAS-mutant, microsatellite-stable metastatic colorectal cancer patients, with the FDA granting Fast Track Designation, which is expected to enhance the company's position in high-value markets.
See More
Global Oncology Market Expected to Reach $748.17 Billion
- Market Growth Potential: The global oncology market is valued at $279.98 billion in 2026 and is projected to reach $748.17 billion by 2035, indicating a strong trend towards a shift from single-agent treatments to combination platforms and next-generation cell therapies, potentially creating significant market opportunities for related companies.
- Immuno-Oncology Expansion: The immuno-oncology segment is expected to grow from $65.22 billion in 2025 to $170.19 billion by 2032, as the approval of combination therapies transforms previously resistant tumors into viable treatment targets, driving rapid industry growth.
- Oncolytics Biotech New Data: Oncolytics Biotech is set to present new mechanistic and translational data at the 2026 American Association for Cancer Research Annual Meeting, indicating that its lead drug pelareorep can enhance tumor sensitivity to immunotherapy, potentially providing crucial scientific support for the company in a competitive market.
- Clinical Trial Progress: Oncolytics' REO 033 trial for KRAS-mutant metastatic colorectal cancer shows an overall survival of 27 months and a 33% objective response rate, with the FDA granting Fast Track Designation, which is expected to create significant market opportunities for the company.
See More
TScan Therapeutics Q4 Earnings Beat Expectations
- Earnings Performance: TScan Therapeutics reported a Q4 GAAP EPS of -$0.18, beating market expectations by $0.06, indicating a positive trend in the company's profitability improvement.
- Significant Revenue Growth: The company achieved Q4 revenue of $2.57 million, representing a 283.6% year-over-year increase, which not only surpassed expectations by $0.15 million but also reflects strong demand for its products and improved market acceptance.
- Positive Market Reaction: The market reacted positively to the earnings report exceeding expectations, which may drive the stock price up, enhancing investor confidence and attracting more capital inflow.
- Optimistic Future Outlook: With ongoing R&D and market expansion efforts, the company is expected to continue achieving revenue growth in the coming quarters, further solidifying its competitive position in the biopharmaceutical sector.
See More
TScan Therapeutics Reports Progress on TSC-101 Clinical Trials
- Clinical Trial Results: Among the 14 patients treated with TSC-101, 11 achieved complete donor chimerism approximately three weeks after their first infusion, indicating the therapy's potential in treating hematologic malignancies and possibly improving long-term patient outcomes.
- Safety and Tolerability: The infusions of TSC-101 were generally well-tolerated, with safety profiles consistent with those observed in Cohort A, suggesting promising applications in high-risk patient populations and laying the groundwork for future clinical adoption.
- Trial Progress: The company is on track to enroll its first patient in the Phase 3 ALLOHA-2™ study of TSC-101 this month, reflecting positive advancements in clinical development that could expedite the product's market entry.
- Expert Event: The company will host a virtual KOL event on June 22 featuring renowned medical experts discussing initial data from Cohort C and future plans for TSC-101, aimed at enhancing market awareness and investor confidence in the therapy.
See More
Cellares and TScan Announce Automated Manufacturing Agreement
- Automated Manufacturing Agreement: Cellares and TScan have entered into an agreement to evaluate the application of Cellares' Cell Shuttle® and Cell Q™ platforms for TSC-101, aiming to provide a scalable and cost-effective manufacturing pathway for acute myeloid leukemia patients, which is expected to significantly reduce production costs and enhance efficiency.
- Clinical Trial Preparation: TScan plans to initiate a pivotal trial for TSC-101 in Q2 2026, with Cellares' automated platform providing essential manufacturing support, thereby ensuring production capacity and quality control during the clinical phase, enhancing patient access to treatment.
- Technological Advantages: Cellares' automated systems are designed to reduce process variability and labor intensity, ensuring consistent execution across different regions and production batches, which is anticipated to deliver the economic and reliability requirements for large-scale commercial production.
- Market Potential: By incorporating TCR-T cell therapies into its portfolio, Cellares further expands its market share in the cell therapy sector, expected to meet the growing patient demand, particularly among those with acute myeloid leukemia and myelodysplastic syndromes.
See More
TScan Therapeutics Q1 Earnings Miss Expectations
- Disappointing Earnings: TScan Therapeutics reported a Q1 GAAP EPS of -$0.22, missing expectations by $0.01, indicating ongoing challenges in profitability for the company.
- Significant Revenue Decline: The company generated $1M in revenue for the first quarter, a 54.5% year-over-year decrease, falling short of the expected $1.5M, reflecting weak market demand and insufficient sales strategies.
- Stable Cash Position: As of March 31, 2026, TScan's cash and cash equivalents stood at $128.1 million, excluding $5.0 million in restricted cash, indicating relative stability in its financial resources.
- Sufficient Funding Outlook: TScan believes its existing cash resources will be adequate to fund its operating plan into the second half of 2027, suggesting that the company will not face immediate liquidity risks.
See More
Global Oncology Market Set for Rapid Growth
- Market Size Forecast: The global oncology market is projected to reach $279.98 billion in 2026 and grow to $748.17 billion by 2035, indicating a structural shift from single-agent treatments to combination therapies and next-generation cell therapies.
- Immuno-Oncology Expansion: The immuno-oncology segment is expected to expand from $65.22 billion in 2025 to $170.19 billion by 2032, as approvals of combination therapies convert previously resistant tumors into viable treatment targets, driving market demand.
- Oncolytics Biotech New Data: Oncolytics Biotech will present new data at the 2026 American Association for Cancer Research Annual Meeting, indicating that its lead drug pelareorep can make tumors more susceptible to immunotherapy, particularly showing positive results in breast and gastrointestinal cancer trials.
- Clinical Trial Progress: Oncolytics' REO 033 trial demonstrated a total survival of 27 months in second-line RAS-mutant, microsatellite-stable metastatic colorectal cancer patients, with the FDA granting Fast Track Designation, which is expected to enhance the company's position in high-value markets.
See More
Global Oncology Market Expected to Reach $748.17 Billion
- Market Growth Potential: The global oncology market is valued at $279.98 billion in 2026 and is projected to reach $748.17 billion by 2035, indicating a strong trend towards a shift from single-agent treatments to combination platforms and next-generation cell therapies, potentially creating significant market opportunities for related companies.
- Immuno-Oncology Expansion: The immuno-oncology segment is expected to grow from $65.22 billion in 2025 to $170.19 billion by 2032, as the approval of combination therapies transforms previously resistant tumors into viable treatment targets, driving rapid industry growth.
- Oncolytics Biotech New Data: Oncolytics Biotech is set to present new mechanistic and translational data at the 2026 American Association for Cancer Research Annual Meeting, indicating that its lead drug pelareorep can enhance tumor sensitivity to immunotherapy, potentially providing crucial scientific support for the company in a competitive market.
- Clinical Trial Progress: Oncolytics' REO 033 trial for KRAS-mutant metastatic colorectal cancer shows an overall survival of 27 months and a 33% objective response rate, with the FDA granting Fast Track Designation, which is expected to create significant market opportunities for the company.
See More
TScan Therapeutics Q4 Earnings Beat Expectations
- Earnings Performance: TScan Therapeutics reported a Q4 GAAP EPS of -$0.18, beating market expectations by $0.06, indicating a positive trend in the company's profitability improvement.
- Significant Revenue Growth: The company achieved Q4 revenue of $2.57 million, representing a 283.6% year-over-year increase, which not only surpassed expectations by $0.15 million but also reflects strong demand for its products and improved market acceptance.
- Positive Market Reaction: The market reacted positively to the earnings report exceeding expectations, which may drive the stock price up, enhancing investor confidence and attracting more capital inflow.
- Optimistic Future Outlook: With ongoing R&D and market expansion efforts, the company is expected to continue achieving revenue growth in the coming quarters, further solidifying its competitive position in the biopharmaceutical sector.
See More
