Overview

* TScan Q3 2025 revenue rose to $2.5 mln, driven by collaboration agreements

* Net loss for Q3 2025 increased due to higher R&D expenses

* Company reached FDA agreement on pivotal trial design for TSC-101

Outlook

* Company expects cash reserves to fund operations into the second half of 2027

* Enrollment in solid tumor trial paused to focus on preclinical development

Result Drivers

* R&D EXPENSES:

Research and development (R&D) expenses for the third quarter of 2025 were $31.7 million, compared to $26.3 million for the third quarter of 2024

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $2.51

Collabor mln

ation

and

License

Revenue

Q3 Net -$35.71

Income mln

Q3 Basic -$0.28

EPS

Q3 -$37.05

Income mln

From

Operatio

ns

Q3 $39.56

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for TScan Therapeutics Inc ( TCRX ) is $6.00, about 79.7% above its November 11 closing price of $1.22

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)