TScan Therapeutics 2025 Q3 Earnings Wider Net Loss of $35.71M Amid Revenue Growth

TScan Therapeutics (TCRX) reported fiscal 2025 Q3 earnings on Nov 13th, 2025, with a 139.4% revenue surge to $2.51 million. The company posted a net loss of $35.71 million, a 19.5% increase from the prior year, while cash reserves are projected to fund operations through 2027.

Revenue

The total revenue of TScan Therapeutics surged by 139.4% to $2.51 million in Q3 2025, driven entirely by collaboration and license revenue. This marks a significant increase from the $1.05 million reported in the same period of 2024, indicating strong performance in this segment.

Earnings/Net Income

TScan Therapeutics's losses deepened to $0.28 per share in 2025 Q3 from a loss of $0.25 per share in 2024 Q3 (12.0% wider loss). Meanwhile, the company's net loss widened to $-35.71 million in 2025 Q3, representing a 19.5% increase from the $-29.89 million loss recorded in 2024 Q3. The EPS of -$0.28 reflects a deepening loss, underscoring ongoing financial challenges despite revenue growth.

Price Action

The stock price of TScan Therapeutics has dropped 4.24% during the latest trading day, has edged down 2.59% during the most recent full trading week, and has plummeted 46.45% month-to-date.

Post-Earnings Price Action Review

TScan Therapeutics' recent earnings report showed a 20% surprise with a $0.28 loss per share, indicating effective financial management despite the loss. The company's revenue consistently outperformed estimates, with a 50.63% beat in the latest quarter, signaling robust growth and operational efficiency. Analysts remain bullish, with a 'Strong Buy' consensus and price targets between $3 and $12, which could drive short-term gains. The strategic focus on the heme program and workforce reductions aim to enhance efficiency, potentially boosting long-term performance. While historical data on 30-day holding periods is limited, biotech stocks often react to clinical progress and regulatory updates. Investors should remain cautious, as the sector's volatility and short-term risks could impact returns.

CEO Commentary

CEO Commentary

Gavin MacBeath, Ph.D., CEO of TScan Therapeutics, emphasized the company’s strategic focus on the heme program, including a negotiated pivotal trial design with the FDA and a streamlined manufacturing process. He noted the pause in the PLEXI-T solid tumor trial to prioritize in vivo engineering and heme clinical development. MacBeath expressed cautious optimism about the cash runway into H2 2027 and the potential for regulatory clarity in the lead heme program. The tone was neutral, balancing operational challenges with forward-looking initiatives.

Guidance

Guidance

The company expects existing cash, cash equivalents, and marketable securities to fund operations into the second half of 2027. Management also highlighted plans to advance the heme program, including an IND filing for two additional TCR-T candidates in Q4 2025 and a pivotal trial initiation in Q2 2026.

Additional News

Additional News

TScan Therapeutics announced a pivotal trial agreement with the FDA for its lead candidate, TSC-101, which could accelerate regulatory approval. The company also introduced an improved manufacturing process, reducing production time by five days and lowering costs, enhancing commercial viability. Additionally, TScan implemented a 30% workforce reduction to focus resources on its heme program and solid tumor research, aiming to improve operational efficiency and streamline development efforts.