TScan Therapeutics Files Q2 2024 10-Q

TL;DR

**TScan Therapeutics Q2 2024 10-Q filed. Financials and operations updated.**

AI Summary

TScan Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results and provided updates on its business operations. Key financial data and operational highlights are detailed within the filing, including information on its collaborations and licensing revenue.

Why It Matters

This filing provides investors with the latest financial health and operational status of TScan Therapeutics, crucial for understanding its ongoing development and market position.

Risk Assessment

Risk Level: medium — As a biotechnology company, TScan Therapeutics faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20240812 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• TScan Therapeutics, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• Amgen Inc. (company) — Mentioned in relation to an agreement
• K2 Health Ventures (company) — Mentioned in relation to a tranche

FAQ

Key Financial Figures

• $0.0001 — which registered Voting Common Stock, $0.0001 par value per share TCRX The Nasdaq

Filing Documents

• tcrx-20240630.htm (10-Q) — 2018KB
• tcrx-ex10_1.htm (EX-10.1) — 108KB
• tcrx-ex31_1.htm (EX-31.1) — 20KB
• tcrx-ex31_2.htm (EX-31.2) — 20KB
• tcrx-ex32_1.htm (EX-32.1) — 8KB
• tcrx-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-095066.txt ( ) — 5922KB
• tcrx-20240630.xsd (EX-101.SCH) — 933KB
• tcrx-20240630_htm.xml (XML) — 540KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 7 Condensed Consolidated Balance Sheets 7 Condensed Consolidated Statements of Operations 8 Condensed Consolidated Statements of Stockholders' Equity 9 Condensed Consolidated Statements of Cash Flows 10 Notes to Unaudited Condensed Consolidated Financial Statements 11 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 25 PART II. OTHER INFORMATION 26 Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 85 Item 3. Defaults Upon Senior Securities 85 Item 4. Mine Safety Disclosures 85 Item 5. Other Information 85 Item 6. Exhibits 85

—FINANCI AL INFORMATION

PART I—FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements. TScan Therapeutics, Inc. Condensed Consolidat ed Balance Sheets (in thousands, except share and per share data) (Unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 242,159 $ 133,359 Marketable securities 55,517 58,685 Prepaid expenses and other current assets 1,854 2,193 Total current assets 299,530 194,237 Property and equipment, net 7,615 7,742 Right-of-use assets 60,949 63,492 Restricted cash 5,031 5,031 Long-term deposit and other assets 1,746 1,647 Total assets $ 374,871 $ 272,149 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 3,110 $ 2,374 Accrued expenses and other current liabilities 10,808 10,716 Operating lease liability, current portion 3,614 3,246 Deferred revenue, current portion 10,704 10,137 Current portion of long-term debt 10,336 3,347 Total current liabilities 38,572 29,820 Deferred revenue, net of current portion 3,955 5,622 Operating lease liability, net of current portion 57,011 59,140 Long-term debt and accrued interest 20,112 26,700 Total liabilities 119,650 121,282 Commitments and contingencies (Note 7) Stockholders' equity: Preferred stock, $ 0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2024 and December 31, 2023 - - Voting common stock, $ 0.0001 par value; 300,000,000 shares authorized; 48,656,158 and 43,552,941 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 5 4 Non-voting common stock, $ 0.0001 par value; 10,000,000 shares authorized; 4,276,588 shares issued and outstanding at June 30, 2024 and December 31, 2023 1 1 Additional paid-in capital 564,615 398,459 Accumulated deficit ( 309,400 ) ( 247,597 ) Total stockholders' equity 255,221 150,867 Total liabilities and s

View Full Filing

View this 10-Q filing on SEC EDGAR