Reading TCRX? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track TCRX free→Reading TCRX? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track TCRX free→NASDAQHealth CareBiotechnologySnapshot 2026-06-15
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is neutral, and earnings quality cannot be assessed since the company was unprofitable over the past year. Management's recent track record has been fairly steady, but risk is high, and the sector backdrop is a headwind, with TCRX compared to sector peers being below typical. Peer multiples imply a price about 6% below where it trades (it looks expensive on this basis); the read is fair, but weakening. This assessment is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 2 valuation methods, at three horizons. Current price $0.95. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $0.95 TCRX trades at 19× p/s — 2.0× the 9× p/s peer median. The market is re-rating it beyond its own range; our $0.89 fair value is low-confidence here. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The market is pricing in roughly 7% near-term growth, below our forecast of about 69%. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 50% of the time over the next year (vs 57% for the rest of the cohort, n=3115).
Over the trailing year it converted 0.98x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, Fed net liquidity, long-term interest rates.
4 material management or governance events in the past 24 months, led by executive changes. Historically, Health Care names rated neutral grew net income 58% of the time over the next year (vs 50% for the rest of the cohort, n=842).
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $-0.18 → $-0.20 (-15.5% / 30d). 0 raised, 1 cut, 4 covering analysts.
0 upgrades, 0 downgrades / 30d. 83% of analysts rate Buy.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$284.
How much price usually moves either way.
On a bad day, this stock has moved -$729.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $6,446.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-15
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
No named catalysts to watch right now. Check back after the next earnings report.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for TCRX yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Results of Operations and Financial Condition. On May 6, 2026, TScan Therapeutics, Inc. issued a press release announcing its financial results for the first quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall neither be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, a…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Looks more expensive than peers.
Self-history needs ~20 months of data.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Biotechnology.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
TCRX TScan Therapeutics Inc | Below typical Show detailsSector percentile: 13 of 100 | full | high |
ABBV AbbVie | Above typical Show detailsSector percentile: 85 of 100 | fair | low |
AMGN Amgen | Above typical Show detailsSector percentile: 77 of 100 | full | moderate |
GILD Gilead Sciences | Above typical Show detailsSector percentile: 100 of 100 | fair | moderate |
VRTX Vertex Pharmaceuticals | Above typical Show detailsSector percentile: 80 of 100 | expensive | moderate |
Not investment advice. As of 2026-06-15.
via XLV
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-15.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Initiate the pivotal trial for TSC-101 in the second quarter of 2026 as planned.
Newly stated in 2026-Q1. The company plans to launch the pivotal trial for TSC-101 in Q2 2026. Financials show a revenue decline from $2.57M in 2025-Q4 to $0.98M in 2026-Q1, indicating limited progress in revenue generation. The trajectory for the trial launch remains to be seen.
“launch pivotal trial for TSC-101 in the second quarter of 2026”
Begin Phase 1 study of TSC-102-A01 and TSC-102-A03 in the second half of 2026.
Newly stated in 2026-Q1. The company plans to initiate Phase 1 studies for TSC-102-A01 and TSC-102-A03 in H2 2026. Revenue decreased from $2.57M in 2025-Q4 to $0.98M in 2026-Q1, showing limited progress in financial performance. The trajectory for these studies is yet to be determined.
“initiate Phase 1 study of TSC-102-A01 and TSC-102-A03 in the second half of 2026”
Implement strategic prioritization to achieve $45 million in annual cost savings for 2026 and 2027.
Newly stated in 2025-Q4. The company aims for $45M in annual cost savings in 2026 and 2027. Operating income was negative, with a decline from -$23.86M in 2025-Q4 to -$29.14M in 2026-Q1, indicating limited progress in cost management. The trajectory for achieving these savings remains uncertain.
“expected to produce annual cost savings of $45.0 million in 2026 and 2027”
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 31, 2026, Leiden Dworak notified TScan Therapeutics, Inc. (the “Company”) of his decision to resign as Vice President of Finance of the Company and principal accounting officer effective April 10, 2026. There were no disagreements between the Company and Mr. Dworak relating to the Company’s operations, policies or practices. In connection…
Results of Operations and Financial Condition. On March 4, 2026, TScan Therapeutics, Inc. issued a press release announcing its financial results for the fourth quarter and fiscal year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall neither be deemed “filed” for purposes of Section 18 of the Securities E…
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 25, 2025, the Board of Directors (the “Board”) of TScan Therapeutics, Inc. (the “Company”), upon the recommendation of the Compensation Committee, approved a retention program designed to retain the employees required to support the Company, including a key employee retention program (the “Retention Program”) that provides for cash awar…
Results of Operations and Financial Condition. On November 12, 2025, TScan Therapeutics, Inc. issued a press release announcing its financial results for the third quarter September 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall neither be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 193…