Recent Updates — TCRX
Garry Nicholson and Dr. Gabriela Gruia resigned from TScan Therapeutics' Board of Directors, effective October 13, 2026. The company stated that neither resignation resulted from any disagreement regarding operations or policies. In connection with these departures, the Board appointed Stephen Biggar as a member and R. Keith Woods as chairperson of the Nominating and Corporate Governance Committee. TScan Therapeutics operates in the biotechnology industry, focusing on developing immunotherapies for cancer treatment.
TScan Therapeutics announced the departure of CFO Jason A. Amello and CMO Chrystal Louis as part of a strategic reorganization. Separation agreements signed on September 24-25, 2026, terminate employment by November 1 or upon new engagement, with continued salary and benefits during notice periods. Amello receives an $85,000 milestone-based cash award under the November 2025 retention program, while Louis is entitled to a $125,000 similar award. Both executives retain previously disclosed termination-related payments. TScan Therapeutics operates in the biotechnology industry, developing immunotherapies for cancer treatment.
On September 8, 2026, TScan Therapeutics approved a retention program for key employees to support company operations. CEO Gavin MacBeath will receive $822,000 in cash awards and 2,400,000 restricted stock units (RSUs), while Chief Legal and Strategy Officer Zoran Zdraveski will receive $416,000 in cash and 1,500,000 RSUs. Cash payments are split between November 2026/February 2027 and upon achievement of clinical milestones for the in vivo solid tumor program. Equity awards vest based on a financing milestone and subsequent anniversaries. TScan Therapeutics operates in the biotechnology industry, focusing on developing cancer immunotherapies.
TScan Therapeutics announced a strategic reorganization to prioritize its in vivo solid tumor program, advancing two product candidates targeting PRAME and MAGE-A4 into IND-enabling studies with plans for Phase 1 initiation by Q4 2027. The company paused further enrollment in the Phase 3 ALLOHA-2 study of TSC-101 due to capital constraints, though it will continue monitoring enrolled patients while seeking partnerships. Concurrently, TScan implemented a workforce reduction of approximately 75%, expecting $4.1 million in employee-related costs and cumulative savings of $55.0 million through the end of 2027. CFO Jason A. Amello and CMO Chrystal Louis were terminated without cause, with CEO Gavin MacBeath assuming principal financial officer duties. Additionally, TScan received a Nasdaq notice for failing to meet the $1.00 minimum bid price rule, granting an 180-day compliance period until February 23, 2027. TScan Therapeutics is a clinical-stage biotechnology company developing T cell receptor (TCR)-engineered T cell therapies for cancer.
TScan Therapeutics received notice from Amgen on August 12, 2026, of its election to terminate the Research Collaboration and License Agreement dated May 8, 2023. The termination becomes effective November 10, 2026, following a 90-day notice period, with no early termination penalty payable by TScan. Under the agreement, Amgen held an exclusive worldwide license to develop product candidates identified using TScan's platform for Crohn's disease. The Company previously received a $30 million upfront payment in 2023 and was eligible for over $500 million in success-based milestones plus tiered royalties. Following termination, TScan expects no future milestone or royalty payments unless Amgen continues to exploit product candidates. TScan Therapeutics operates in the biotechnology industry, focusing on target discovery platforms for immune-mediated diseases.
TScan Therapeutics reported second quarter 2026 financial results, posting revenue of $1.1 million against a net loss of $30.4 million. The company dosed the first patient in its Phase 3 ALLOHA-2 trial for TSC-101 and shared positive manufacturing data from Cohort C of the Phase 1 ALLOHA study. Cash and cash equivalents stood at $100.2 million, sufficient to fund operations into the second quarter of 2027. The firm operates in the biotechnology industry, developing T cell receptor-engineered T cell therapies for cancer treatment.