TScan Therapeutics 2025 Q1 Earnings Mixed Performance with Net Loss Widening

TScan Therapeutics (TCRX) reported its fiscal 2025 Q1 earnings on May 06th, 2025. Despite a significant revenue increase, the company faced a wider net loss, missing analyst expectations on profitability. The stock price reflects market skepticism, dropping post-earnings. However, the company maintains optimism with strategic trials and development plans. Guidance remains in-line with prior forecasts, focusing on upcoming trials and regulatory submissions. The company anticipates further data from clinical trials by year-end.

Revenue
The total revenue of TScan Therapeutics increased by 283.6% to $2.17 million in 2025 Q1, up from $566,000 in 2024 Q1.

Earnings/Net Income
TScan Therapeutics narrowed losses to $0.26 per share in 2025 Q1 from a loss of $0.32 per share in 2024 Q1 (18.8% improvement). Meanwhile, the company's net loss widened to $-34.13 million in 2025 Q1, representing a 13.2% increase from the $-30.14 million loss recorded in 2024 Q1. EPS remains under pressure reflecting ongoing financial challenges.

Price Action
The stock price of TScan Therapeutics has dropped 7.48% during the latest trading day, has tumbled 14.47% during the most recent full trading week, and has jumped 12.40% month-to-date.

Post-Earnings Price Action Review
The strategy of buying TScan Therapeutics (TCRX) shares following a revenue drop quarter-over-quarter and holding for 30 days has resulted in significant losses historically. A five-year backtest reveals a return of -52.6%, a Sharpe ratio of -1.3, and a maximum drawdown of -58.8%. Such metrics underscore the substantial risks and losses associated with this investment approach over the past five years. Despite the increase in revenue during the current quarter, the stock's recent performance reflects market skepticism and the ongoing uncertainty surrounding the company's financial outlook. Investors remain cautious, as evidenced by the negative returns and the heightened volatility in share prices. This historical trend suggests that investing immediately after revenue declines may not be a favorable strategy, given the historical data and the company's financial challenges.

CEO Commentary
"In this exciting year for TScan, we continue to advance our mission of bringing life-changing T-cell therapies to patients with heme and solid tumor malignancies," said Gavin MacBeath, Ph.D., Chief Executive Officer. The company is actively enrolling patients in the PLEXI-T solid tumor trial and anticipates dosing its first patient with multiplex therapy soon. The heme program remains on track for a registrational trial of TSC-101 in the latter half of the year. TScan plans to provide an update on the ALLOHA Phase 1 study, including two-year follow-up data, by year-end.

Guidance
TScan expects to initiate a registrational trial for TSC-101 in the second half of 2025, pending feedback from regulatory authorities. The company plans to file an IND application for TSC-102-A0301 in the same timeframe. Additionally, TScan anticipates presenting further data from the ALLOHA Phase 1 trial, including two-year relapse data, by the end of the year, with safety and response data for multiplex TCR-T therapy also expected by year-end.

Additional News
Recently, TScan Therapeutics appointed Stephen Camiolo as Senior Vice President, Market Access. Mr. Camiolo brings over 25 years of experience in market access, reimbursement, pricing strategy, sales, marketing, and account management across the pharmaceutical and biotechnology industries. Additionally, the company is gearing up for a significant presence at the American Society of Gene and Cell Therapy's 28th Annual Meeting, where it will present its research on TCR-T cell therapies. TScan is also set to participate in a fireside chat at the Bank of America 2025 Health Care Conference in Las Vegas, NV, on May 13, showcasing its strategic developments and future outlook. These initiatives reflect TScan's ongoing commitment to expanding its market reach and advancing its clinical-stage biotechnology efforts.