TScan Q1 Net Loss $28.7M, $128.1M Cash Funds Q2 Phase 3 Study
TScan reported Q1 2026 revenue of $1.0 million, net loss of $28.7 million, and $128.1 million in cash, funding operations into H2 2027. The company plans to launch its Phase 3 TSC-101 study and release Cohort C ALLOHA data in Q2, and initiate Phase 1 TSC-102 trials in H2 2026.
1. First Quarter 2026 Financial Results
TScan reported Q1 2026 revenue of $1.0 million, down from $2.2 million a year earlier. Research and development expenses decreased to $21.9 million and general and administrative expenses fell to $8.2 million, resulting in a net loss of $28.7 million compared to $34.1 million in Q1 2025.
2. Cash Position and Runway
As of March 31, 2026, the company held $128.1 million in cash and cash equivalents, plus $5.0 million in restricted cash, providing funding into the second half of 2027. Management believes existing resources will support planned clinical milestones through that period.
3. Pipeline Milestones
TScan expects to share early data from Cohort C of its ALLOHA Phase 1 heme trial and initiate its Phase 3 study of TSC-101 in Q2 2026. It also plans to launch Phase 1 studies of TSC-102-A01 and TSC-102-A03 targeting CD45 in HLA-A01:01 and A03:01 patients in the second half of 2026.