TScan Therapeutics, Inc.

TScan Therapeutics reported a net loss of $129.8 million for fiscal year 2025, a slight increase from a $127.5 million loss in 2024. Revenue was $10.3 million, derived entirely from collaboration and license agreements, primarily with Amgen, representing a significant increase from $2.8 million in the prior year. Operating expenses totaled $146.1 million, driven by research and development costs of $114.2 million and general and administrative expenses of $32.0 million. The company's cash position, including cash equivalents and marketable securities, was $263.8 million as of December 31, 2025. Management believes existing cash resources will fund operations into the second half of 2027. The company is prioritizing its hematologic malignancies program, including TSC-101, following a strategic restructuring that reduced the workforce by approximately 30%.

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