TScan Therapeutics' shares dropped nearly 28.8% in early trading, sinking to an intraday 52‑week low of $0.45.
The company disclosed a broad strategic reorganization that will slash its workforce by roughly three‑quarters and eliminate its internal manufacturing unit while sharply curtailing its research operations.
Concurrent with the restructuring, TScan halted enrollment in the Phase 3 ALLOHA‑2™ pivotal trial of its TSC‑101 therapy for hematologic malignancies, attributing the suspension to a lack of sufficient capital.
Management said the reorganization is expected to generate cumulative cost savings of about $55 million through the end of 2027.
Resources are being redirected toward two in‑vivo engineered TCR‑T candidates aimed at solid‑tumor targets—PRAME and MAGE‑A4—with plans to advance them to IND‑enabling studies and initiate Phase 1 trials in the fourth quarter of 2027.
The revised cash runway now extends only into Q4 2027, and the company is actively seeking collaboration partners for its paused hematologic and autoimmune programs.
The Nasdaq composite was flat on the day, while the S&P 500 and Dow Jones recorded modest gains; no notable moves were observed in peer cell‑therapy stocks.
