TCRX TScan Therapeutics Inc.
Upcoming Catalysts
| Drug | Stage | Catalyst Date |
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TSC-100
Solid tumor
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Phase 1
Phase 1
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TSC-101
Solid tumors
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Phase 1
Phase 1
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Latest News
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WALTHAM, Mass., Oct. 05, 2021 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (NASDAQ:TCRX), a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today announced the appointment of Heather Savelle as Vice President, Investor Relations. Ms. Savelle brings to TScan over 20 years of experience in corporate communications and investor relations.
"We are excited to welcome Heather to the TScan team at an important time," said David Southwell, President and Chief Executive Officer of TScan Therapeutics. "Her extensive experience running highly effective investor relations and communications programs in the life sciences industry will be crucial now that we've evolved into a publicly traded company and as we approach a series of key development milestones over the near-term."
"I am excited to join the TScan team as we advance our mission to harness the potential of the human immune system to create life-changing T cell therapies for patients in need," said Ms. Savelle. "I am grateful to be working alongside an experienced leadership team and supporting the advancement of the Company's pipeline of liquid and solid tumor candidates with plans to submit IND applications for lead candidates TSC-100 and TSC-101 to the FDA during the fourth quarter. I look forward to regularly communicating our progress with the investment community."
Prior to joining TScan, Ms. Savelle was a Managing Director at Argot Partners, LLC where she provided strategic communications counsel to biotechnology companies across all stages of development and commercialization. Before joining Argot Partners, Ms. Savelle was Senior Vice President at MacDougall Biomedical Communications. Prior to that, Ms. Savelle held positions of increasing responsibility for various small, mid- and large cap biotechnology and life sciences companies including Targacept, Inc., Repligen Corporation, Dynogen Pharmaceuticals, Inc. and Millennium Pharmaceuticals (now part of Takeda Oncology). Ms. Savelle holds a B.A. in Sociology from the University of California, Santa Barbara.
About TScan Therapeutics, Inc.
TScan is a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer. The company's lead liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation. The company is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors.
Forward-Looking Statements
This press release may contain forward-looking statements and information within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws. The use of words such as "may," "will," "could," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "projects," "seeks," "endeavor," "potential," "continue" or the negative of such words or other similar expressions can be used to identify forward-looking statements. The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation risks set forth under the caption "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of TScan's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, which is on file with the Securities and Exchange Commission (SEC) and available on the SEC's website at https://www.sec.gov/. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although TScan believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, except as required by law, neither TScan nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements included in this press release. Any forward-looking statement included in this press release speaks only as of the date on which it was made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Contacts
Media Contact:
David Rosen
Argot Partners
212-600-1902
david.rosen@argotpartners.comInvestor Contact:
Sherri Spear
Argot Partners
212-600-1902
sherri@argotpartners.com
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WALTHAM, Mass., Sept. 28, 2021 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (NASDAQ:TCRX), a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today announced that David Southwell, President and Chief Executive Officer, will participate in a virtual fireside chat at the Chardan 5th Annual Genetic Medicines Conference on Tuesday, October 5, 2021 at 2:00 p.m. ET.
A live webcast of the fireside chat will be available on the "Events and Presentations" section of the Company's website at ir.tscan.com. An archived replay of the webcast will be available on the Company's website following the event.
About TScan Therapeutics, Inc.
TScan is a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer. The company's lead liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation. The company is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors.
Contacts
Media Contact:
David Rosen
Argot Partners
212-600-1902
david.rosen@argotpartners.comInvestor Contact:
Sherri Spear
Argot Partners
212-600-1902
sherri@argotpartners.com
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WALTHAM, Mass., Sept. 09, 2021 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (NASDAQ:TCRX), a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today announced that Zoran Zdraveski, J.D., Ph.D. has been appointed as Chief Legal Officer.
"We are pleased to welcome Zoran as the Chief Legal Officer of TScan. His in-depth experience in corporate law, capital raising, business development and operations will be critical to our development as we advance our liquid and solid tumor candidates to the clinic," said David Southwell, President and Chief Executive Officer of TScan Therapeutics. "Zoran's extensive scientific training and prior experience building intellectual property portfolios for biotech companies is of crucial importance as TScan identifies and develops TCR therapies for novel targets and creates IP around these targets."
"I am excited to join TScan in support of the Company's mission to create life-changing T cell therapies for patients by unleashing the untapped potential of the human immune system," said Dr. Zdraveski. "I look forward to working alongside TScan's world-class management team to deliver on the full potential of such a tremendous platform technology."
Dr. Zdraveski has more than 20 years of legal, IP and business operations experience in the biopharmaceutical industry. Most recently, he served as the Chief Legal and Technology Operations Officer at Magenta Therapeutics Inc. from April 2017 to April 2021, where he established the legal team and managed all aspects of legal, intellectual property and compliance both before and after the company's 2017 initial public offering. Prior to Magenta, he was the Vice President and Associate General Counsel at Epizyme Inc. from July 2012 to April 2017. Prior to joining Epizyme, he held patent counsel positions at Ironwood from April 2011 to July 2012 and Genzyme Therapeutics from September 2009 to April 2011. Dr. Zdraveski holds an M.S. in Chemistry and a B.F.A. and B.A. in Art and Chemistry from Southern Methodist University, a J.D. from Suffolk University Law School, and a Ph.D. in Biochemistry from the Massachusetts Institute of Technology.
About TScan Therapeutics, Inc.
TScan is a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer. The company's lead liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation. The company is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors.
Forward-Looking Statements
This press release may contain forward-looking statements and information within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws. The use of words such as "may," "will," "could," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "projects," "seeks," "endeavor," "potential," "continue" or the negative of such words or other similar expressions can be used to identify forward-looking statements. The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation risks set forth under the caption "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of TScan's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, which is on file with the Securities and Exchange Commission (SEC) and available on the SEC's website at https://www.sec.gov/. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although TScan believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, except as required by law, neither TScan nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements included in this press release. Any forward-looking statement included in this press release speaks only as of the date on which it was made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Contacts
Media Contact:
David Rosen
Argot Partners
212-600-1902
david.rosen@argotpartners.comInvestor Contact:
Sherri Spear
Argot Partners
212-600-1902
sherri@argotpartners.com
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WALTHAM, Mass., Sept. 02, 2021 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (NASDAQ:TCRX), a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today announced that David Southwell, President and Chief Executive Officer, will participate in a virtual fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference on Friday, September 10, 2021 at 4:15 p.m. ET.
A live webcast of the fireside chat will be available on the "Events and Presentations" section of the Company's website at ir.tscan.com. An archived replay of the webcast will be available on the Company's website following the event.
About TScan Therapeutics, Inc.
TScan is a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer. The company's lead liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation. The company is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors.
Contacts
Media Contact:
David Rosen
Argot Partners
212-600-1902
david.rosen@argotpartners.comInvestor Contact:
Sherri Spear
Argot Partners
212-600-1902
sherri@argotpartners.com
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Debuted as Publicly Traded Company and Raised $100 Million in Gross Proceeds to Fund Liquid and Solid Tumor Programs
IND Submissions Expected in Fourth Quarter 2021 for Lead Liquid Tumor TCR-T Therapy Candidates, TSC-100 and TSC-101
WALTHAM, Mass., Aug. 19, 2021 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (NASDAQ:TCRX) (TScan or the Company), a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today reported financial results for the quarter ended June 30, 2021, highlighted recent program progress, and outlined key upcoming milestones.
"TScan achieved significant milestones this quarter, including the completion of our IPO that provided additional capital to execute on our long-term goals of advancing transformational TCR-T therapies for patients," said David Southwell, Chief Executive Officer and President at TScan. "We are on track in advancing our early-stage pipeline of liquid and solid tumor TCR-T therapy candidates to the clinic. Specifically, we plan to complete IND-enabling studies for our lead liquid tumor candidates, TSC-100 and TSC-101, and submit IND applications to the FDA during the fourth quarter. Additionally, we continue to progress our solid tumor program with the ongoing discovery of novel shared T cell targets and are advancing our TSC-200 series candidates against four targets with a goal to treat patients with multiplexed therapy."
Second Quarter 2021 and Recent Business Highlights
Financial and Corporate
- In July 2021, TScan completed its initial public offering (IPO), raising $100 million in aggregate gross proceeds, before deducting underwriting discounts and commissions and offering expenses, and began trading on The Nasdaq Global Market. The IPO followed the closing of a Series C preferred stock financing of $100 million in gross proceeds in January 2021.
- In July 2021, Gavin MacBeath, Ph.D., TScan's Chief Scientific Officer, presented findings from TScan's work to discover the targets of T cells in recovering COVID-19 patients at the Cell-Mediated Therapies for Infectious Disease Summit. The presentation also featured in vitro data comparing several polyepitope T-cell vaccine candidates based on the Company's novel T cell target discoveries.
- In May 2021, TScan appointed Brian M. Silver as Chief Financial Officer, and Gabriela Gruia M.D., to its Board of Directors. Mr. Silver brings more than 25 years of diverse strategic and financial experience within the healthcare and investment banking sectors to TScan, including as a managing director in the healthcare group of Morgan Stanley, as a partner at Perella Weinberg Partners, and his most recent role as Chief Financial Officer at Freeline Therapeutics. Dr. Gruia is a seasoned oncology drug development executive with more than 25 years of global regulatory and research experience, including her prior role as Senior Vice President and Head of Regulatory Affairs for Novartis Oncology. TScan also named Timothy Barberich, the founder and former Chair and Chief Executive Officer of Sepracor Inc., as Chair of TScan's Board of Directors.
Upcoming Expected Milestones and Key Priorities
Liquid Tumor Programs: TScan's two lead liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101, are designed to target HA-1 and HA-2, respectively, and treat patients with hematological malignancies who are undergoing allogenic hematopoietic stem cell transplantation.
- Present additional preclinical data of TSC-100 and TSC-101 during the fourth quarter of 2021.
- Complete Investigational New Drug (IND)-enabling studies and submit IND applications to the U.S. Food and Drug Administration (FDA) for TSC-100 and TSC-101 during the fourth quarter 2021.
- Initiate clinical trials for TSC-100 and TSC-101 in the first half of 2022 with initial top-line data expected in the second half of 2022.
Solid Tumor Programs: TScan's TSC-200 series of TCR-T therapy candidates include a combination of known targets, such as HPV16 for TSC-200 and PRAME for TSC-203, as well as targets that are novel antigens for TCR-T therapy, such as for TSC-201 and TSC-202.
- Present additional preclinical data of TSC-200 series during the first half of 2022.
- Complete three IND-enabling studies for TSC-200 series and submit subsequent IND applications to FDA during the second half of 2022. A fourth IND is also planned for the first half of 2023.
Infectious Disease Program
- Continue research into potential second generation COVID-19 vaccine constructs utilizing TScan's novel T cell target discoveries.
Second Quarter 2021 Financial Results
As of June 30, 2021, the Company had cash and cash equivalents totaling $106.2 million, which excludes gross proceeds of $100 million from the IPO. Based on the Company's current operating plan, TScan expects that cash and cash equivalents as of June 30, 2021, combined with the proceeds from the IPO, will enable it to fund its operating expenses into 2024.
Research and development expenses for the second quarter 2021 were $10.8 million, compared to $4.5 million for the second quarter 2020.
General and administrative expenses for the second quarter 2021 were $2.7 million, compared to $1.1 million for the second quarter 2020.
Net loss for the second quarter 2021 was $10.7 million or $7.69 per common share compared to a net loss of $5.6 million or $6.18 per common share for the second quarter 2020. Net loss per share was calculated using 1.3 million weighted average common shares and 0.9 million weighted average common shares outstanding for the second quarter of 2021 and 2020, respectively, both of which periods exclude the conversion of preferred shares and the issuance of new shares of common stock in the IPO.
On July 20, 2021, the Company issued 6,666,667 shares of common stock in the IPO, raising gross proceeds of $100 million, and bringing the total shares outstanding to 23,965,724, which consists of 18,822,590 shares of voting common stock and 5,143,134 shares of non-voting common stock.
About TScan Therapeutics, Inc.
TScan is a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer. The company's lead liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation. The company is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding possible or assumed future results of operations of TScan Therapeutics, Inc., expenses and financing needs, business strategies and plans, research and development plans or expectations, the structure, timing and success of the Company's planned preclinical development and clinical trials, expected milestones, market sizing, competitive position, regulatory matters, industry environment and potential growth opportunities, among other things. TScan intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "anticipate," "project," "target," "design," "estimate," "predict," "potential," "plan," "on track," or similar expressions or the negative of those terms. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in TScan's forward-looking statements include, among others, the beneficial characteristics, safety, efficacy, therapeutic effects and potential advantages of TScan's TCR-T therapy candidates; TScan's expectations regarding its preclinical studies being predictive of clinical trial results; the timing of the initiation, progress and expected results of TScan's preclinical studies, clinical trials and its research and development programs; TScan's plans relating to developing and commercializing its TCR-T therapy candidates, if approved, including sales strategy; estimates of the size of the addressable market for TScan's TCR-T therapy candidates; TScan's manufacturing capabilities and the scalable nature of its manufacturing process; TScan's estimates regarding expenses, future milestone payments and revenue, capital requirements and needs for additional financing; TScan's expectations regarding competition; TScan's anticipated growth strategies; TScan's ability to attract or retain key personnel; TScan's ability to establish and maintain development partnerships and collaborations; TScan's expectations regarding federal, state and foreign regulatory requirements; TScan's ability to obtain and maintain intellectual property protection for its proprietary platform technology and our product candidates; the sufficiency of TScan's existing capital resources to fund its future operating expenses and capital expenditure requirements; and the effect of the COVID-19 pandemic, including mitigation efforts and political, economic, legal and social effects, on any of the foregoing or other aspects of TScan's business or operations; and other factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of TScan's Final Prospectus for its initial public offering, which is on file with the Securities and Exchange Commission (SEC) and available on the SEC's website at https://www.sec.gov/. Additional factors may be described in those sections of TScan's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, expected to be filed with the SEC in the third quarter of 2021.
In addition to the risks described above and in TScan's other filings with the SEC, other unknown or unpredictable factors also could affect TScan's results. No forward-looking statements can be guaranteed and actual results may differ materially from such statements. The information in this release is provided only as of the date of this release, and TScan undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
Contacts
Media Contact:
David Rosen
Argot Partners
212-600-1902
david.rosen@argotpartners.comInvestor Contact:
Sherri Spear
Argot Partners
212-600-1902
sherri@argotpartners.comTScan Therapeutics, Inc. and subsidiaries Condensed Consolidated Balance Sheet Data (Unaudited) (in thousands) June 30,
2021December 31,
2020Assets Cash and cash equivalents $ 106,197 $ 34,791 Other assets 23,810 14,947 Total assets $ 130,007 $ 49,738 Liabilities, Convertible Preferred Stock and Stockholders' Deficit Total liabilities $ 30,626 $ 32,519 Convertible preferred stock 159,411 59,681 Total stockholders' deficit (60,030 ) (42,462 ) Total liabilities, convertible preferred stock and stockholders' deficit $ 130,007 $ 49,738 TScan Therapeutics, Inc. and subsidiaries Condensed Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Revenue Collaboration and license revenue $ 2,848 $ - $ 4,875 $ - Operating expenses: Research and development 10,801 4,502 18,140 $ 8,800 General and administrative 2,726 1,114 5,332 $ 2,452 Total operating expenses 13,527 5,616 23,472 11,252 Loss from operations (10,679 ) (5,616 ) (18,597 ) (11,252 ) Other income: Interest income 5 3 11 102 Net loss $ (10,674 ) $ (5,613 ) $ (18,586 ) $ (11,150 ) Net loss per share, basic and diluted $ (7.69 ) $ (6.18 ) $ (14.25 ) $ (13.23 ) Weighted average common shares outstanding—basic and diluted 1,387,973 908,564 1,303,899 842,643 
- In July 2021, TScan completed its initial public offering (IPO), raising $100 million in aggregate gross proceeds, before deducting underwriting discounts and commissions and offering expenses, and began trading on The Nasdaq Global Market. The IPO followed the closing of a Series C preferred stock financing of $100 million in gross proceeds in January 2021.