TScan Therapeutics, Inc. (TCRX) Stock Analysis
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
TScan Therapeutics, Inc. (TCRX) trades at $0.7762 with AI Score 17/100 (Grade F). TScan Therapeutics, Inc. Market cap: $47.4M, Sector: Healthcare.
Price as of Aug 21, 2026 · Last analyzed: May 9, 2026Analyst Coverage for TCRX: TCRX does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates TCRX against Healthcare peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
TCRX: 3/3 scored disciplines lean bearish. Dominant signal: Seth Klarman bearish.
How is this calculated? →Why this analysis is different
- A sector-relative MoonshotScore — five pillars (business quality, financial safety, valuation, growth durability, momentum) re-ranked nightly against the full universe of US-listed common stocks.
- An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
- Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.
TScan Therapeutics, Inc. (TCRX) Healthcare & Pipeline Overview
TScan Therapeutics, Inc. is a preclinical-stage biopharmaceutical firm specializing in T cell receptor-engineered T cell therapies for cancer, distinguishing itself through innovative approaches to target hematologic malignancies and solid tumors, alongside developing vaccines for infectious diseases, within the competitive biotechnology sector.
What Is the Investment Thesis for TCRX?
TScan Therapeutics operates in the high-growth, high-risk field of TCR-engineered T cell therapies. The company's value hinges on the successful development and clinical validation of its pipeline assets, particularly TSC-100 and TSC-101 for hematologic malignancies and TSC-200 series for solid tumors. Key value drivers include achieving positive preclinical data, advancing candidates into Phase 1/2 clinical trials, and securing strategic partnerships. The collaboration with Novartis provides external validation of TScan's platform. However, the company's -1360.6% profit margin reflects its preclinical stage, requiring significant R&D investment. Success depends on navigating regulatory hurdles, demonstrating clinical efficacy, and securing sufficient funding to support ongoing operations. Investors should closely monitor clinical trial outcomes and partnership developments as key indicators of future growth.
Based on FMP financials and quantitative analysis
TCRX Key Highlights
TScan Therapeutics is a preclinical-stage biopharmaceutical company specializing in T cell receptor (TCR)-engineered T cell therapies for cancer treatment.
- The company's pipeline includes TSC-100 and TSC-101 for hematologic malignancies, targeting residual leukemia and relapse prevention post-transplantation.
- TScan is also developing TSC-200, TSC-201, TSC-202, TSC-203, and TSC-204 for the treatment of solid tumors, expanding its therapeutic focus.
- A collaboration with Novartis Institutes for BioMedical Research, Inc. aims to identify novel cancer antigens, enhancing TScan's research capabilities.
- TScan's gross margin is 92.4%, reflecting potential profitability upon successful commercialization of its therapies, despite current negative profit margins due to R&D expenses.
Who Are TCRX's Competitors?
TCRX is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| BLUE bluebird bio, Inc. | $4.97 | +0.00% | $48.7M | 67 |
| CRSP CRISPR Therapeutics AG | $58.90 | -1.52% | $5.68B | 44 |
| EDIT Editas Medicine, Inc. | $2.94 | -9.54% | $451M | — |
| RLYB Rallybio Corporation | $16.60 | -2.35% | $88.1M | 81 |
| ICCC ImmuCell Corporation | $10.09 | -0.39% | $91.3M | 77 |
| JNCE Jounce Therapeutics, Inc. | $1.88 | +0.00% | $99.0M | 71 |
| ORMP Oramed Pharmaceuticals Inc. | $4.79 | +0.00% | $196M | 77 |
| CGEN Compugen Ltd. | $2.65 | +8.61% | $251M | 76 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are TCRX's Key Strengths?
Proprietary T cell receptor (TCR) engineering technology.
- Pipeline of TCR-engineered T cell therapies targeting various cancers.
- Collaboration with Novartis for cancer antigen discovery.
- Experienced management team with expertise in immunotherapy.
What Are TCRX's Weaknesses?
Preclinical-stage company with no currently marketed products.
- High research and development costs.
- Dependence on successful clinical trial outcomes.
- Negative profit margin due to ongoing R&D expenses.
What Could Drive TCRX Stock Higher?
Initial clinical data from Phase 1/2 trial of TSC-100 in hematologic malignancies (2027).
- IND submission for TSC-200 series in solid tumors (2027).
- Expansion of collaboration with Novartis for cancer antigen discovery.
- Progress in preclinical development of vaccines for infectious diseases.
What Are the Key Risks for TCRX?
Financial-distress signal — its Altman Z-Score of -5.99 sits in the distress zone (elevated bankruptcy risk).
- Weak fundamentals — a Piotroski F-Score of 3/9 flags soft profitability, leverage or efficiency.
- Unsuccessful clinical trial outcomes for TSC-100 and TSC-101.
- Regulatory delays or rejection of IND submissions.
- Competition from other biotechnology and pharmaceutical companies.
- Dependence on securing funding for research and development.
- Challenges in manufacturing and scaling up TCR-engineered T cell therapies.
What Are the Growth Opportunities for TCRX?
- Expansion of TCR-engineered T cell therapies into solid tumors: TScan has the opportunity to expand its TCR-engineered T cell therapies into solid tumors with its TSC-200 series. The solid tumor market represents a significant growth opportunity, with a global market size estimated to reach $424.6 billion by 2030. TScan's ability to develop effective therapies for solid tumors could drive substantial revenue growth. The timeline for this growth opportunity depends on the successful completion of preclinical studies and clinical trials, with potential for initial clinical data within the next 2-3 years.
- Advancement of TSC-100 and TSC-101 for hematologic malignancies: TScan's lead product candidates, TSC-100 and TSC-101, target hematologic malignancies, offering a potential treatment option for patients undergoing hematopoietic stem cell transplantation. The market for hematologic malignancy therapies is estimated to reach $64.4 billion by 2027. Successful clinical development and commercialization of TSC-100 and TSC-101 could establish TScan as a key player in this market. The timeline for this growth opportunity involves advancing these candidates through clinical trials, with potential for regulatory approval within the next 3-5 years.
- Development of vaccines for infectious diseases: TScan is leveraging its TCR technology to develop vaccines for infectious diseases, including SARS-CoV-2. The global vaccine market is expected to reach $101.7 billion by 2028. While this is not TScan's primary focus, successful development of vaccines could provide a diversified revenue stream and demonstrate the versatility of its TCR platform. The timeline for this growth opportunity depends on the progress of vaccine development programs and regulatory approvals, with potential for initial product launches within the next 2-4 years.
- Strategic partnerships and collaborations: TScan has a collaboration and license agreement with Novartis, which validates its technology and provides access to additional resources and expertise. Expanding its network of strategic partnerships and collaborations with other pharmaceutical companies and research institutions could accelerate the development and commercialization of its therapies. These partnerships can provide access to funding, technology, and market expertise, enhancing TScan's competitive position. The timeline for this growth opportunity is ongoing, with potential for new partnerships to be established in the near future.
- Expansion of TCR discovery platform: TScan's TCR discovery platform is a valuable asset that can be leveraged to identify novel cancer antigens and develop new TCR-engineered T cell therapies. Expanding the capabilities of this platform and using it to discover new therapeutic targets could drive long-term growth. The market for TCR-based therapies is expected to grow significantly in the coming years, driven by advancements in immunotherapy and personalized medicine. The timeline for this growth opportunity is ongoing, with continuous investment in research and development to enhance the TCR discovery platform.
What Are TCRX's Competitive Advantages?
- Proprietary T cell receptor (TCR) engineering technology.
- Pipeline of TCR-engineered T cell therapies targeting various cancers.
- Collaboration with Novartis for cancer antigen discovery.
- Expertise in developing personalized cancer immunotherapies.
What Does TCRX Do?
TScan Therapeutics, Inc., founded in 2018 and headquartered in Waltham, Massachusetts, is a biopharmaceutical company focused on pioneering T cell receptor (TCR)-engineered T cell therapies for cancer treatment. Recognizing the limitations of traditional cancer therapies, TScan was established to harness the power of the immune system by engineering T cells to specifically target and eliminate cancer cells. The company's initial focus is on developing therapies for hematologic malignancies, with its lead product candidates, TSC-100 and TSC-101, designed to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation. These therapies aim to provide a more targeted and effective approach to treating blood cancers. Expanding its therapeutic scope, TScan is also developing a pipeline of TCR-engineered T cell therapies for solid tumors, including TSC-200, TSC-201, TSC-202, TSC-203, and TSC-204. These therapies are designed to address the challenges of treating solid tumors, which often evade traditional cancer treatments due to their complex microenvironments and mechanisms of immune evasion. In addition to its cancer programs, TScan is leveraging its TCR technology to develop vaccines for infectious diseases, including SARS-CoV-2, demonstrating the versatility of its platform. TScan has a collaboration and license agreement with Novartis Institutes for BioMedical Research, Inc., to identify novel cancer antigens from the T cells of patients with a specific type of cancer, further validating its technology and expanding its research capabilities. As a preclinical-stage company, TScan is focused on advancing its pipeline through preclinical studies and clinical trials, with the goal of bringing innovative TCR-engineered T cell therapies to patients in need.
What Products and Services Does TCRX Offer?
- Develop T cell receptor (TCR)-engineered T cell therapies for cancer treatment.
- Target hematologic malignancies with therapies like TSC-100 and TSC-101.
- Develop therapies for solid tumors, including TSC-200, TSC-201, TSC-202, TSC-203, and TSC-204.
- Engineer T cells to specifically recognize and eliminate cancer cells.
- Develop vaccines for infectious diseases, such as SARS-CoV-2.
- Collaborate with Novartis to identify novel cancer antigens.
How Does TCRX Make Money?
- Focus on research and development of TCR-engineered T cell therapies.
- Generate revenue through potential future commercialization of therapies.
- Seek strategic partnerships and collaborations to fund research and development.
- Out-license technology and therapies to generate revenue.
What Industry Does TCRX Operate In?
TScan Therapeutics operates within the rapidly evolving biotechnology industry, specifically in the field of cancer immunotherapy. The market for cancer therapies is substantial and growing, driven by an aging population and advancements in personalized medicine. TCR-engineered T cell therapies represent a promising approach, offering the potential for highly targeted and effective cancer treatments. The competitive landscape includes major pharmaceutical companies and specialized biotech firms, all vying to develop innovative immunotherapies. TScan differentiates itself through its focus on TCR-based therapies and its pipeline of candidates targeting both hematologic malignancies and solid tumors. Success in this space requires significant investment in research and development, clinical trial execution, and regulatory expertise.
Who Are TCRX's Key Customers?
- Patients with hematologic malignancies.
- Patients with solid tumors.
- Pharmaceutical companies through collaborations and licensing agreements.
TScan Therapeutics, Inc. Financial Trajectory
TScan Therapeutics, Inc. (TCRX) reported $1.1M in revenue for Q2 2026, reflecting 7.0% growth compared to the prior quarter. The company recorded a net loss of $30.4M, with diluted EPS of $-0.23. Quarter-over-quarter revenue has been mixed, typical for a micro-cap company operating in Healthcare. Across the four most recent quarters, TCRX averaged $-0.23 in diluted EPS.
Company Profile
TScan Therapeutics, Inc. operates in the Biotechnology industry within the Healthcare sector. It is headquartered in Waltham, US. The company is led by CEO Gavin MacBeath. TCRX has traded publicly since 2021.
How TScan Therapeutics, Inc. Is Valued
TScan Therapeutics, Inc. carries a market capitalization of $47.4M, placing it in the micro-cap category. Relative to its peer group, TCRX's quantitative score of 17/100 is below the peer average of 67/100.
Key Financial Metrics
Return on assets is -68.7%, showing how much profit it generates from its asset base. A current ratio of 3.37 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -115.1%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
TScan Therapeutics, Inc.'s Piotroski F-Score is 3/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of -5.99 places it in the distress zone, a signal of elevated financial risk.
Earnings Track Record
TScan Therapeutics, Inc. has beaten Wall Street's EPS estimate in 5 of its last 8 reported quarters — more hits than misses. Reported results have landed about 9.1% above estimates on average.
Forward Outlook
Wall Street analysts project TScan Therapeutics, Inc. revenue of about $7.9M for fiscal 2026, with EPS near $-1.03. The estimate reflects 4 contributing analysts.
TCRX Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- TScan's recent insider buying suggests strong internal confidence in the company's future prospects. It's like executives loading up on shares before a major announcement, signaling they believe the stock is undervalued.
- The community sentiment surrounding TCRX has been noticeably positive lately, with increased discussions about potential breakthroughs in their cancer therapies. This buzz can often translate to increased investor interest.
- TScan's focus on novel cancer immunotherapies positions them well in a high-growth sector. The market is always hungry for innovative solutions in oncology, creating a favorable environment.
- The overall market perception of TCRX has shifted positively, with more analysts and traders highlighting its potential. It's similar to when a company starts gaining mainstream recognition, attracting a broader investor base.
Bear Case
- Recent market volatility is creating headwinds for smaller biotech companies like TScan. Investors tend to flock to safer assets during uncertain times, impacting growth stocks.
- Despite the positive sentiment, some community members express concerns about the long timeline for TScan's clinical trials. The 'hurry up and wait' game can test investor patience.
- The competitive landscape in cancer immunotherapy is fierce, with larger players like Roche and Novartis dominating the market. TScan faces an uphill battle to gain significant market share.
- There are lingering questions about TScan's cash runway and potential need for future dilutive financing. This uncertainty can weigh on the stock price, similar to what happened with several biotechs in early 2023.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2026 | $1M | -$30M | -$0.23 |
| Q1 2026 | $982,000 | -$29M | -$0.22 |
| Q4 2025 | $3M | -$23M | -$0.18 |
| Q3 2025 | $3M | -$36M | -$0.28 |
Based on FMP financials and quantitative analysis
TCRX Latest News
No recent news available for TCRX.
TCRX Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for TCRX.
Price Targets
Wall Street price target analysis for TCRX.
TCRX MoonshotScore
What does this score mean?
The MoonshotScore rates TCRX 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
Leadership: Gavin MacBeath
CEO
Gavin MacBeath is the CEO of TScan Therapeutics, bringing extensive experience in the biotechnology industry. Prior to TScan, he held leadership positions at several biotech companies, where he focused on drug discovery and development. He has a strong background in immunology and oncology, with a track record of advancing novel therapies through preclinical and clinical stages. MacBeath holds a Ph.D. in Chemistry from Harvard University and completed postdoctoral research at the University of California, Berkeley.
Track Record: Under Gavin MacBeath's leadership, TScan Therapeutics has advanced its pipeline of TCR-engineered T cell therapies, securing a collaboration agreement with Novartis and progressing its lead product candidates towards clinical trials. He has overseen the expansion of the company's research and development capabilities and the strengthening of its intellectual property portfolio. His strategic vision has positioned TScan as a key player in the field of cancer immunotherapy.
TScan Therapeutics, Inc. Healthcare Stock: Key Questions Answered
What does the AI Score mean for TCRX?
TCRX holds an AI Score of 17/100 (Grade: F). This is an educational research signal, not a buy or sell recommendation. TScan Therapeutics, Inc. is a preclinical-stage biopharmaceutical company focused on developing T cell receptor (TCR)-engineered T cell therapies for the treatment of cancer. Their pipeline …
What does TScan Therapeutics, Inc. do?
TScan Therapeutics, Inc. is a preclinical-stage biopharmaceutical company focused on developing T cell receptor (TCR)-engineered T cell therapies for the treatment of cancer. The company engineers T cells to specifically target and eliminate cancer cells, offering a personalized approach to cancer immunotherapy.
What do analysts say about TCRX stock?
As a preclinical-stage company, TScan Therapeutics' valuation is largely based on the potential of its TCR-engineered T cell therapy platform and its pipeline of product candidates. Analyst coverage is likely focused on monitoring the progress of preclinical studies, IND submissions, and clinical trial initiations.
What are the main risks for TCRX?
The main risks for TScan Therapeutics include the inherent challenges of drug development, such as the potential for unsuccessful clinical trial outcomes, regulatory hurdles, and competition from other biotechnology and pharmaceutical companies. As a preclinical-stage company, TScan faces significant financial risks, including the need to secure funding for ongoing research and development.
What are the key factors to evaluate for TCRX?
TScan Therapeutics, Inc. (TCRX) holds an AI score of 17/100 (low). TScan Therapeutics operates in the high-growth, high-risk field of TCR-engineered T cell therapies. Not financial advice.
How frequently does TCRX data refresh on this page?
TCRX's price was last updated on Aug 21, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven TCRX's recent stock price performance?
TScan Therapeutics, Inc. (TCRX) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Proprietary T cell receptor (TCR) engineering technology. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider TCRX overvalued or undervalued right now?
TScan Therapeutics, Inc. (TCRX) has no trailing P/E available here, so lean on price-to-sales and cash flow in the Financials tab. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
How do I research TCRX before investing?
Before investing in TScan Therapeutics, Inc. (TCRX), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) analyst consensus ratings and price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data and may be subject to change.
- Preclinical-stage company, so projections are speculative.