TScan Therapeutics

TCRX

Biotechnology · Healthcare

Price

$0.91

+0.02 (+1.80%)

Market Cap

$55.9M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+443.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 23.9M (2021) → 129.9M (2025)

TScan Therapeutics, Inc., a preclinical-stage biopharmaceutical company, develops T cell receptor-engineered T cell therapies for the treatment of patients with cancer. It is developing TSC-100 and TSC-101 for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation; and TSC-200, TSC-201, TSC-202, TSC-203, and TSC-204 for the treatment of solid tumors. The company is also developing vaccines for infec

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-54.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+15.4% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$114M/ year

↑ Rising (+6% vs prior year)

>1,000% of revenue

61.4x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

9.3%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~16 months

$128M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Heavy R&D investment

TScan Therapeutics is putting 1106% of revenue into R&D and that number is rising. That's 61.4x the sector average.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

29.4%

Modest — 29.4% gross margin

Operating Margin

-2967.3%

Losing money on operations — -2967.3%

ROCE

-18.6%

Weak — -18.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+106.7%

Fast-growing sales (106.7% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-1367.7%

Burning cash (-1367.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.62

Moderate — manageable debt (0.62)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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