TScan Therapeutics, Inc. (TCRX): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Ionis (IONS) and Milestone (MIST) gained FDA approvals for neurology and cardiology drugs. Biogen (BIIB) and AstraZeneca (AZN) also received regulatory nods for Alzheimer's and cancer treatments. Novavax (NVAX) secured global approvals for its COVID-19 vaccine. TScan (TCRX) and Novartis (NVS) announced job cuts. Novartis (NVS) and HUTCHMED (HCM) struck deals worth up to $3.2B and $1.295B respectively.

Wedbush downgraded Tscan Therapeutics (TCRX) to Neutral, lowering its price target to $1.00 from $5.00 due to a strategic shift. The company paused its Phase 3 ALLOHA-2 study and refocused on preclinical programs, reducing staff by 75%. Despite cash burn concerns, InvestingPro suggests the stock may be undervalued. H.C. Wainwright reiterated a Buy rating with a $7.00 target, citing positive trial data.

TScan Therapeutics (TCRX) reported that two in vivo TCR therapies for solid tumors have entered IND-enabling stages, with preclinical data and regulatory updates expected in Q1 2027 and a phase I trial planned for Q4 2027. The company's heme malignancy and autoimmune programs are paused pending partnerships. TCRX's financial runway extends to Q4 2027, according to a study update.

TScan Therapeutics (TCRX) shares fell 28.8% after announcing a strategic reorganization, including a 75% workforce reduction, pausing its Phase 3 ALLOHA-2 trial due to insufficient capital, and redirecting resources to solid tumor candidates. The company expects $55M in cost savings by 2027 and has a cash runway into Q4 2027. It is seeking collaboration partners for paused programs.

TScan Therapeutics (TCRX) is cutting 75% of its workforce and refocusing on solid tumor programs. The company expects $55M in savings through 2027 and plans to advance two product candidates. It paused enrollment in a Phase 3 trial due to insufficient capital and is seeking partners for its hematologic malignancies and autoimmune programs.

Amgen (NASDAQ: AMGN) terminated its collaboration with TScan Therapeutics (NASDAQ: TCRX), ending over USD 500 million in potential milestone payments for TScan. The agreement, effective November 10, 2026, focused on TScan's T-cell receptor discovery platform for Crohn's disease. TScan reported progress in its Phase III ALLOHA-2 trial for TSC-101, a therapy for hematologic malignancies, with topline data expected mid-2028.