TScan Therapeutics Q3 revenue drops after Amgen collaboration ends

Overview

• US biotech firm's Q3 revenue fell sharply yr/yr after Amgen collaboration ended

• Company reorganized to focus on in vivo TCR-T therapies for solid tumors, paused Phase 3 ALLOHA-2 enrollment

• Q3 net loss narrowed slightly from prior year

Outlook

• Company expects to file first IND for solid tumors in Q3 2027, dose first patient in Q4 2027

• TScan plans to disclose preclinical data and FDA feedback on lead candidates in Q1 2027

• Company says existing cash resources fund operations into Q4 2027

Result Drivers

• AMGEN COLLABORATION END - Revenue decline was primarily due to timing of research activities under the Amgen collaboration, which was terminated in August 2026

• LOWER R&D SPENDING - R&D expenses fell due to reduced laboratory supplies, contracted services, and prior workforce reduction

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "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 is $1.00, about 438.8% above its November 11 closing price of $0.19

Reuters Recommended Reads

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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.)