TScan Therapeutics Reports First Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - TScan Therapeutics is advancing its T cell receptor (TCR)-engineered T cell therapies for cancer treatment, with significant milestones expected by the end of 2025 [1][2][4] Corporate Updates - The company appointed Stephen Camiolo as Senior Vice President, Market Access, bringing over 25 years of experience in the pharmaceutical and biotechnology industries [6] - TScan is on track to file an IND application for TSC-102-A0301 targeting HLA-A*03:01 in the second half of 2025 [1][7] - The company continues to develop its ImmunoBank, a collection of TCR-T therapy candidates targeting various cancer-associated antigens [5][13] Clinical Trials - TScan is enrolling patients in the PLEXI-T solid tumor trial and anticipates dosing the first patient with multiplex therapy soon, with safety and efficacy data expected later this year [2][15] - The ALLOHA Phase 1 trial is ongoing, focusing on TSC-101 for treating acute myeloid leukemia (AML), acute lymphoblastic leukemia (ALL), and myelodysplastic syndrome (MDS) [4][7] Financial Performance - Revenue for Q1 2025 was $2.2 million, a significant increase from $0.6 million in Q1 2024, primarily due to research activities under a collaboration agreement with Amgen [8] - R&D expenses rose to $29.8 million in Q1 2025 from $24.9 million in Q1 2024, driven by increased laboratory supplies and personnel costs [9] - G&A expenses increased to $8.6 million in Q1 2025 from $7.1 million in Q1 2024, mainly due to higher personnel expenses [10] - The net loss for Q1 2025 was $34.1 million, compared to $30.1 million in Q1 2024, with cash and cash equivalents totaling $251.7 million as of March 31, 2025, sufficient to fund operations into Q1 2027 [11][12]