Saturday 17 October 2026
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TScan Therapeutics, Inc.
TCRX Healthcare Biotechnology
TScan Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $10.3 million, up 266.7% from fiscal 2024. In the quarter to June 2026, revenue fell 65.8%, EPS grew 17.9%, free cash flow grew 19.0% and total debt rose 1.50%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
0.23
0.01
−4.17%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | — | 4.50 | 1.45 | 1.60 | 2.60 | 0.88 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | — | — | 14.71 | 5.60 | 7.15 | 9.69 | 3.21 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | 64 | 105 | 138 | 154 | 194 | 142 | ||||
| Revenue/emp, $m | — | — | — | — | 0.02 | 0.10 | 0.10 | 0.14 | 0.01 | 0.07 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | 1 | 10 | 14 | 21 | 3 | 10 | ||||
| Gross margin, % | — | — | — | 0.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||||
| EBT | — | — | — | (14) | (26) | (49) | (66) | (89) | (127) | (130) | |||||
| EBT margin, % | — | — | — | 0.00 | (2,408.02) | (479.49) | (489.26) | (423.86) | (4,527.66) | (1,256.81) | |||||
| Net income | — | 0 | — | (14) | (26) | (49) | (66) | (89) | (127) | (130) | |||||
| Depreciation | — | — | — | 1 | 1 | 3 | 5 | 5 | 4 | 3 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | 0.00 | 1.18 | 0.87 | 0.56 | 0.32 | 0.03 | 0.08 | ||||
| Earnings | — | — | — | (35.48) | (28.52) | (4.17) | (2.75) | (1.36) | (1.14) | (1.00) | |||||
| Cash flow | — | — | — | (32.52) | (3.30) | (4.17) | (2.77) | (0.94) | (0.99) | (1.04) | |||||
| Capex | — | — | — | (3.24) | (4.63) | (0.85) | (0.18) | (0.05) | (0.03) | (0.03) | |||||
| Free cash flow | — | — | — | (35.76) | (7.93) | (5.03) | (2.94) | (0.98) | (1.02) | (1.08) | |||||
| Book value | — | — | — | (44.51) | (46.36) | 13.79 | 4.13 | 2.30 | 2.15 | 0.95 | |||||
| Shares, m | — | — | — | 0 | 1 | 12 | 24 | 66 | 112 | 130 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| P/S | — | — | — | — | 2.45 | 5.18 | 3.04 | 17.80 | 120.90 | 12.57 | |||||
| P/B | — | — | — | — | 0.00 | 0.33 | 0.41 | 2.48 | 1.41 | 1.05 | |||||
| EV/Sales | — | — | — | — | (14.23) | (10.14) | (3.39) | 10.10 | 32.94 | 1.96 | |||||
| EV/FCF | — | — | — | — | 1.95 | 1.76 | 0.65 | (3.30) | (0.81) | (0.14) | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | (13) | (3) | (49) | (67) | (61) | (111) | (135) | ||||
| Capex | — | — | — | (1) | (4) | (10) | (4) | (3) | (4) | (4) | |||||
| Free cash flow | — | — | — | (14) | (7) | (59) | (71) | (65) | (115) | (140) | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | 40 | 19 | 144 | 107 | 164 | 257 | 139 | ||||
| Total debt | — | — | — | 5 | 7 | 6 | 33 | 30 | 32 | 33 | |||||
| Net debt | — | — | — | (37) | (27) | (155) | (87) | (162) | (258) | (120) | |||||
| Shareholders’ equity | — | — | — | (17) | (42) | 161 | 99 | 151 | 241 | 123 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | (55.31) | (52.72) | (40.89) | (34.21) | (37.87) | (39.64) | (43.26) | ||||
| ROIC | — | — | — | 0.00 | 0.00 | (561.31) | (336.46) | 0.00 | 0.00 | (2,610.99) | |||||
| ROE | — | — | — | 45.83 | 87.67 | (82.20) | (50.90) | (71.29) | (65.08) | (71.28) | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
TScan Therapeutics, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ACGN Aceragen, Inc. | $17.1M | — (loss-making) | — (loss-making) | +2,394.95% (above 0%: growing) | n/m | −115.67% (below 0%: shrinking) | 100.00% | (834.33%) | Compare |
| RADX Radiopharm Theranostics Limited - Sponsored ADR | $17.0M | — | — | — | — | −137.75% (below 0%: shrinking) | — | — | Compare |
| DYAI Dyadic International Inc. | $16.8M | — (loss-making) | — (loss-making) | −0.57% (below 0%: shrinking) | n/m | −1,298.54% (below 0%: shrinking) | (2.39%) | (213.73%) | Compare |
| PBM Psyence Biomedical Ltd. | $16.5M | 0.2× | — | — | n/m | −707.20% (below 0%: shrinking) | — | 0.00% | Compare |
| TCRX TScan Therapeutics, Inc. | $16.2M | — (loss-making) | — (loss-making) | −65.83% (below 0%: shrinking) | n/m | +18.95% (above 0%: growing) | 100.00% | (2,901.33%) | |
| AKTX Akari Therapeutics PLC | $15.5M | — (loss-making) | — | — | n/m | +4.51% (above 0%: growing) | 0.00% | 0.00% | Compare |
| VAXX Vaxxinity, Inc. | $15.5M | — (loss-making) | — (loss-making) | −100.23% (below 0%: shrinking) | n/m | +17.00% (above 0%: growing) | 0.00% | 0.00% | Compare |
| MRKR MARKER THERAPEUTICS, INC. | $15.3M | — (loss-making) | — (loss-making) | +2.75% (above 0%: growing) | n/m | −97.84% (below 0%: shrinking) | 100.00% | 0.00% | Compare |
| NCEL NewcelX Ltd. | $15.3M | — (loss-making) | — | — | n/m | −87.71% (below 0%: shrinking) | 0.00% | — | Compare |
| Median of peers | $16.0M | — | — | +1.09% | — | −106.75% | 0.00% | 0.00% |
TScan Therapeutics, Inc. (TCRX) key facts
- Strength: TScan Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $10.3 million, up 266.7% from fiscal 2024.
- TScan Therapeutics, Inc. (TCRX) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
- As of October 16, 2026, TCRX traded at $0.23, a market capitalization of $16.2 million.
- Return on equity was −71.3% and debt-to-equity 0.47.
- Its Piotroski F-score is 2 out of 9 and its Altman Z-score is −3.54 (distress zone) for fiscal 2025.