TScan Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $10.3M | $2.8M | $21.0M | $13.5M | $10.1M |
| Research and development | $114.2M | $107.3M | $88.2M | $59.8M | $45.0M |
| Operating expenses | $146.1M | $137.6M | $114.5M | $80.2M | $58.8M |
| Operating income | -$135.8M | -$134.8M | -$93.5M | -$66.6M | -$48.6M |
| Interest expense | $2.8M | $3.7M | $3.8M | $1.2M | — |
| Income tax expense | $0 | — | — | — | — |
| Net income | -$129.8M | -$127.5M | -$89.2M | -$66.2M | -$48.6M |
| Balance Sheet | |||||
| Cash and equivalents | $152.4M | $178.7M | $133.4M | $120.0M | $161.4M |
| Current assets | $157.2M | $292.7M | $194.2M | $124.1M | $165.7M |
| Total assets | $228.8M | $371.1M | $272.1M | $199.1M | $188.1M |
| Current liabilities | $18.7M | $36.0M | $29.8M | $17.3M | $21.3M |
| Total liabilities | $105.7M | $130.1M | $121.3M | $99.7M | $27.3M |
| Total debt | $32.5M | $32.5M | $30.0M | $30.0M | — |
| Stockholders' equity | $123.1M | $241.0M | $150.9M | $99.4M | $160.8M |
| Cash Flow Statement | |||||
| Cash from operations | -$135.3M | -$110.8M | -$61.4M | -$66.5M | -$48.7M |
| Depreciation and amortization | $2.9M | $4.1M | $5.4M | $5.1M | $3.3M |
| Stock-based compensation | $11.7M | $9.5M | $5.2M | $4.6M | $2.5M |
| Capital expenditure | $4.4M | $3.8M | $3.1M | $4.2M | $9.9M |
| Free cash flow | -$139.7M | -$114.6M | -$64.5M | -$70.7M | -$58.6M |
Shares outstanding 65.4M · Free float 52.2%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.