TScan Therapeutics (NASDAQ:TCRX), a clinical-stage biopharmaceutical company developing T cell receptor (TCR)-engineered T cell therapies for the treatment of cancer, on Wednesday reported financial results for the fourth quarter and full year ended December 31, 2025, and provided a business update focused on progress across its allogeneic TCR-T platform.
The U.S. Food and Drug Administration cleared Investigational New Drug (IND) applications for TSC-102-A01 and TSC-102-A03, two solid tumor-targeted TCR-T candidates from the company's TSC-102 program.
These clearances enable the initiation of Phase 1 clinical trials to evaluate safety, tolerability and preliminary efficacy in patients with select solid tumors expressing specific cancer-associated antigens.
In the ongoing ALLOHA™ Phase 1 trial evaluating TSC-200 series TCR-T candidates in hematologic malignancies, TScan completed enrollment in Cohort C using product manufactured at commercial scale.
The milestone supports the company's transition toward registrational-enabling studies and potential accelerated approval pathways in high-risk myeloid malignancies.
As of December 31, 2025, the company held cash, cash equivalents and marketable securities sufficient to fund operations into the second half of 2027, providing runway through multiple anticipated clinical data readouts and program advancements.
Fourth-quarter revenue was $2.6 million, compared with $0.7 million in the fourth quarter of 2024, primarily from collaboration agreements and milestone payments.
Full-year 2025 revenue totaled $10.3 million, up from $2.8 million in 2024.