Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Meeting is in one Hour I signed in
The poster https://www.tscan.com/wp-content/uploads/2023/05/ASGCT-poster-2023.pdf
PR https://www.globenewswire.com/news-release/2023/05/17/2670856/0/en/TScan-Therapeutics-Presents-Preliminary-Phase-1-Clinical-Results-on-TSC-100-and-TSC-101-at-the-American-Society-of-Gene-Cell-Therapy-26th-Annual-Meeting.html
NEWS TScan Therapeutics Presents Preliminary Phase 1 Clinical Results on TSC-100 and TSC-101 at the American Society of Gene & Cell Therapy 26th Annual Meeting
Poster highlights Phase 1 results following treatment with TSC-100 and TSC-101 after hematopoietic cell transplantation
https://www.otcmarkets.com/stock/TCRX/news/story?e&id=2531529
Company to host a virtual KOL event featuring Monzr M. Al Malki, M.D., to discuss highlights from the meeting and preliminary data today, Wednesday, May 17th at 5:30 p.m. ET
WALTHAM, Mass., May 17, 2023 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (Nasdaq: TCRX), a clinical-stage biopharmaceutical company focused on the development of T cell receptor (TCR)-engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today announced a poster presentation highlighting preliminary data from the Phase 1 umbrella clinical trial evaluating TSC-100 and TSC-101 targeting minor histocompatibility antigens (MiHA) HA-1 and HA-2, respectively, to treat residual disease and prevent relapse following hematopoietic cell transplantation (HCT) using reduced intensity conditioning (RIC) in patients with acute myeloid leukemia (AML), myelodysplastic syndromes (MDS), or acute lymphocytic leukemia (ALL) at the American Society of Gene & Cell Therapy (ASGCT) 26th Annual Meeting 2023.
TScan has developed two lead TCR-T cell therapy candidates, TSC-100 and TSC-101, that express TCRs targeting MiHAs HA-1 and HA-2, respectively, both presented by HLA-A*02:01. The goal is to select HCT patients who are HA-1 or HA-2 positive, with donors who are mismatched on either the MiHA or HLA-A*02:01. In this context, TSC-100 and TSC-101 are designed to eliminate all recipient hematopoietic cells, including malignant cells, that persist post-transplant, while leaving donor-derived cells unaffected. Both products are being developed in patients with AML, ALL, and MDS undergoing allogeneic haploidentical HCT with RIC, with the goal of preventing disease relapse. Approximately 42% of patients with these diseases relapse within two years of RIC transplant, at which point there are limited treatment options and poor prognosis. The longer-term objective is to enable more patients to maintain prolonged remission after receiving HCT with RIC, which is a more tolerable conditioning regimen than myeloablative conditioning.
“We continue to make meaningful progress in our Phase 1 umbrella trial with preliminary data presented at ASGCT demonstrating notable differences following treatment with both of our TCR-T cell therapy candidates,” said Debora Barton, M.D., Chief Medical Officer. “In a p53-mutated MDS patient who received TSC-101 infusion, we observed T cell expansion between 14 and 21 days post-treatment and observed markers of T cell activation and proliferation. Particularly encouraging, this patient had 100% donor chimerism post-transplant with no detectable patient-derived hematopoietic cells with sensitivity limit of 0.13%, and no dose-limiting toxicities. Our Phase 1 study is rapidly enrolling and TSC-101 is advancing into the second dose level. We are on track to reach the recommended Phase 2 dose for TSC-100 and TSC-101 and report interim clinical data for the program by the end of 2023.”
Gavin MacBeath, Ph.D., acting Chief Executive Officer and Chief Scientific and Operating Officer added: “We are very excited to progress to the second dose level for TSC-101 after seeing encouraging results from the patient at this first dose level. We are hopeful to continue to produce robust clinical outcomes as we progress our Phase 1 trial and remain excited about the potential clinical benefits our engineered T cells may have in difficult-to-treat patient populations.”
The Phase 1 umbrella trial is a multi-arm, i3+3 study evaluating TSC-100, TSC-101, and standard of care HCT alone (control arm) in patients with AML, ALL or MDS. Patients enrolled in Dose Level 1 (DL1) receive either TSC-100 or TSC-101 upon count recovery after HCT at approximately day 21. Patients enrolled in Dose Level 2 (DL2) will receive the same dose of TSC-100 or TSC-101 approximately 21 days post-transplant, followed by a second dose administered 40 days after the initial dose, provided there are no safety issues. The trial design also includes a third dose level (DL3), where the second dose is escalated 4-fold.
Key Poster Highlights:
Phase 1 umbrella clinical trial evaluating TSC-100 and TSC-101 targeting MiHAs HA-1 and HA-2, respectively, to treat residual disease and prevent relapse following HCT using RIC in patients with AML, MDS or ALL
Two control arm patients have been enrolled and received standard of care (SOC) (HCT alone):
Both control arm patients have medium-risk MDS and experienced incomplete donor chimerism (presence of patient-derived cells) following transplant
One patient is now in early stages of relapse: after 100 days, patient-derived cells are still observed and increasing
TSC-101 treatment arm (n=1 high-risk MDS with p53 mutation):
DL1 administered 21 days after transplant Engineered T cells showed expansion between 14-21 days after infusionDetectable markers of activation and proliferation observed
Twenty-one days after treatment and 42 days after transplant, donor chimerism was at 100% (no detectable patient-derived hematopoietic cells with sensitivity limit of 0.13%)
Minimal residual disease (MRD) assessment: p53 mutation was not detected post-transplant in bone marrow and peripheral blood samples, with sensitivity limit of 0.01%
No DLTs observed
Study advancing to DL2
TSC-100 treatment arm (n=1 T-cell ALL):
DL1 administered 28 days after transplant
T cell expansion occurred on Day 7 with detectable markers of T cell activation and proliferation
Two assays are used to detect the action of T cells:
MRD: SOC assays measuring remaining malignant cells use flow cytometry, which has a sensitivity of ~0.1% High sensitivity assay based on next-generation sequencing (NGS) and droplet digital PCR is also used in this study, with a sensitivity of 0.01%
Chimerism: SOC STR assays have ~1% sensitivity Study is using the high-sensitivity NGS-based Alloheme assay, with a sensitivity of ~0.13%
A copy of the poster can be accessed on the “Publications” section of the Company’s website at www.tscan.com.
Virtual KOL Event
The Company will share highlights from its poster presented at ASGCT, featuring Monzer M. Al Malki, M.D, Associate Profession, Division of Leukemia, Department of Hematology and Hematopoietic Cell Transplantation, City of Hope, on Wednesday, May 17th at 5:30 p.m. ET to discuss the presentation and results from the ongoing Phase 1 study of TSC-100 and TSC-101 to treat residual disease and prevent relapse following HCT using RIC in patients with AML, MDS and ALL. To register for the event, please click here. A replay will be available on the “Events and Presentations” section of the Company’s website at ir.tscan.com.
About TScan Therapeutics, Inc.
TScan is a clinical-stage biopharmaceutical company focused on the development of T cell receptor (TCR)-engineered T cell therapies (TCR-T) for the treatment of patients with cancer. The Company’s lead TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual disease and prevent relapse after allogeneic hematopoietic cell transplantation. The Company is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors. The Company has developed and continues to build its ImmunoBank, the Company’s repository of therapeutic TCRs that recognize diverse targets and are associated with multiple HLA types, to provide customized multiplexed TCR-T therapies for patients with a variety of solid tumors.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, express or implied statements regarding the Company’s plans, progress, and timing relating to the Company’s hematologic malignancies program, including patient enrollment, reaching recommended Phase 2 dose for TSC-100 and TSC-101, and interim clinical data; the structure, timing and success of the Company’s planned preclinical development and clinical trials; the potential benefits of any of the Company’s proprietary platforms, multiplexing, or current or future product candidates in treating patients; and the Company’s goals, focus, and strategy. TScan intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, “may,” “might,” “advance,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “anticipate,” “project,” “target,” “design,” “estimate,” “predict,” “potential,” “plan,” “on track,” or similar expressions or the negative of those terms. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. The express or implied forward-looking statements included in this release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation: the beneficial characteristics, safety, efficacy, therapeutic effects and potential advantages of TScan’s TCR-T therapy candidates; TScan’s expectations regarding its preclinical studies being predictive of clinical trial results; TScan’s approved INDs and enrollment of patients in its study being indicative or predictive of bringing TScan closer to its goal of providing customized TCR-T therapies to treat patients with cancer; the partnership with Amgen being indicative or predictive of the value of TScan’s target discovery platform outside of oncology; the timing of the launch, initiation, progress and expected results and announcements of TScan’s preclinical studies, clinical trials and its research and development programs; TScan’s timeline regarding its filing of INDs for its TCRs throughout the year, TScan’s ability to enroll patients for its clinical trials within its expected timeline, TScan’s plans relating to developing and commercializing its TCR-T therapy candidates, if approved, including sales strategy; estimates of the size of the addressable market for TScan’s TCR-T therapy candidates; TScan’s manufacturing capabilities and the scalable nature of its manufacturing process; TScan’s estimates regarding expenses, future milestone payments and revenue, capital requirements and needs for additional financing; TScan’s expectations regarding competition; TScan’s anticipated growth strategies; TScan’s ability to attract or retain key personnel; TScan’s ability to establish and maintain development partnerships and collaborations; TScan’s expectations regarding federal, state and foreign regulatory requirements; TScan’s ability to obtain and maintain intellectual property protection for its proprietary platform technology and our product candidates; the sufficiency of TScan’s existing capital resources to fund its future operating expenses and capital expenditure requirements; and other factors that are described in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of TScan’s most recent Annual Report on Form 10-K and any other filings that TScan has made or may make with the SEC in the future. Any forward-looking statements contained in this release represent TScan’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Except as required by law, TScan explicitly disclaims any obligation to update any forward-looking statements.
Contacts
Heather Savelle
TScan Therapeutics, Inc.
VP, Investor Relations
857-399-9840
hsavelle@tscan.com
Joyce Allaire
LifeSci Advisors, LLC
Managing Director
617-435-6602
jallaire@lifesciadvisors.com
https://www.globenewswire.com/newsroom/ti?nf=ODg0MDk5MiM1NTk5ODcwIzIyMDcwNjk=
https://ml.globenewswire.com/media/ZWIwMjMxNTMtZmI3My00MzI0LTk0ZjMtODMyMWMwZDFjODAwLTEyMTg2MjI=/tiny/TScan-Therapeutics-Inc-.png
Source: TScan Therapeutics, Inc.
© 2023 GlobeNewswire, Inc.
Got a View on the Market?
Sponsored By : Cboe Global Markets, Inc.
Whether trading large contracts (SPX®) or mini (XSP?), S&P 500® Options let you to trade short or long and adapt quickly to volatility.
AW 1 d419056daw.htm AW TSCAN THERAPEUTICS, INC. May 16, 2023
VIA EDGAR
Securities and Exchange Commission
Division of Corporation Finance
100 F. Street N.E.
Washington, D.C. 20549
Re:
TScan Therapeutics, Inc. (CIK 0001783328)
Request to Withdraw Pre-Effective Amendment No. 1 to Registration Statement (Reg No. 333-268260) on Form S-3 (Accession No. 0001193125-23-145261)
Ladies and Gentlemen:
Pursuant to Rule 477 promulgated under the Securities Act of 1933, as amended (the “Securities Act”), TScan Therapeutics, Inc. (the “Company”) hereby requests the immediate withdrawal of the Company’s Amendment No. 1 to Registration Statement on Form S-3 referred to above (the “Amendment”), which was filed on May 16, 2023, together with all exhibits thereto, with Accession No. 0001193125-23-145261. No securities were sold pursuant to this Amendment.
Two Amendments No. 1 to the Registration Statement on Form S-3 were filed under the EDGAR submission header for Reg No. 333-268260.
The Company is requesting the immediate withdrawal of the Amendment No. 1 that references Reg. No. 333-268261 (Accession No. 0001193125-23-145261).
The Company is not seeking the withdrawal of the Amendment No. 1 that references Reg. No. 333-268260 (Accession No. 0001193125-23-145259).
Thank you for your assistance in this matter. If you have questions regarding this request, please contact the Company’s legal counsel, William D. Collins, Esq., of Goodwin Procter LLP, at (617) 570-1447.
Very truly yours,
/s/ Brian Silver
Chief Financial Officer
cc:
Zoran Zdraveski, Esq. (Chief Legal Officer at TScan Therapeutics, Inc.)
William D. Collins, Esq. (Goodwin Procter LLP)
David Li, Esq. (Goodwin Procter LLP)
Insight source
https://quantisnow.com/insight/4513795
$TCRX Amgen and Novartis are involved with TCRX enough said
https://www.otcmarkets.com/stock/TCRX/news/story?e&id=2522538
Holy COW that is some presentation
Will listen to that Presentation if I am allowed in
TCRX May Corporate Presentation is a must read for serious investors
https://ir.tscan.com/static-files/1d066354-1ed3-4f4f-b97b-28806d9da9f5
The whole presentation spells out the potential from oncology - autoimmune - infectious disease
Of course, it will be the trial data that will confirm whether the TCR-T approach is indeed successful.
Thank you.
TCRX May Presentation (it has been posted on TCRX website)
Awesome presentation coming up at ASGCT imo, - highly, highly professional, imo.
Gonna turn some heads on Wednesday, imo.
https://ir.tscan.com/static-files/1d066354-1ed3-4f4f-b97b-28806d9da9f5
Spot on again bro, Slide #7
TScan Therapeutics, Inc.
Steady value-generating data flow across clinical programs
Heme Program
Enroll patients in all 3 arms of trial
Safety and biomarker data at ASGCT
That looks like potential sales by David Southwell who stepped down on March 31/23.
https://ir.tscan.com/news-releases/news-release-details/tscan-therapeutics-announces-ceo-transition
Some shares bought on the open market and some for compensation, looks like the holding period requirement has been met.
https://www.upcounsel.com/rule-144
FORM 144 Title of the Class of Securities To Be Sold
https://www.otcmarkets.com/filing/html?id=16656101&guid=Hiu-kFUYuTxmB3h
#1 Common
Charles Schwab Company
3000 Schwab Way
Westlake
TEXAS
76262
85,911 $346,221.00 19,480,729 05/15/2023
Nasdaq
And one of the Directors of Bakers Bros sits on the Board very positive
On another topic, it appears that Amgen Oncology does not currently have a TCR-T Modality category in their pipeline.
see here:
https://www.amgenoncology.com/clinical-trial-finder.html#modality
then click on Oncolytic Immunotherapy
https://www.amgenoncology.com/modalities/oncolyticimmunotherapy.html
Physicians have long observed that certain viruses can slow the progression of cancer. Oncolytic immunotherapy aims to harness this potential by using genetically modified viruses to target tumors in several important and complementary ways.1
By deleting certain genes, viruses can be reprogrammed to replicate in tumor cells but not in normal cells. This selective viral replication causes the tumor cells to lyse—releasing tumor-specific antigens.1 The virus can also be modified to produce human GM-CSF, signaling dendritic cells to the site of the lysed tumors where they encounter tumor antigens—generating a broad immunotherapeutic response that can help cytotoxic T cells to recognize and attack distant metastases throughout the body.
(i'm not 100% sure, but TCRX Technology may be a perfect fit for Amgen Oncology and there could be more to the recent Amgen collaboration then Cohns disease, in my optimistic opinion.)
Click on Technology https://www.tscan.com/
That's a nice update, thanks for posting that. Impressive institutional involvement, imo.
The category of TCR-T, is still relatively new imo, with little in vivo data available to date.
For information purposes, Kimmtrack was the first FDA approved TCR-T in January of 2022 and there is an interesting read here :
https://acgtfoundation.org/news/explaining-t-cell-receptor-therapy-for-cancer/
TScan is a clinical-stage biopharmaceutical company dedicated to creating life-changing T cell therapies for patients by unleashing the untapped potential of the human immune system.
Very impressive Management and Board Members
https://www.tscan.com/
TCRX outstanding shares of 24,225,954,
As of March 31, 2023, the Company had issued and outstanding shares of 24,225,954, which consists of 19,480,729 shares of voting common stock and 4,745,225 shares of non-voting common stock.
https://ir.tscan.com/news-releases/news-release-details/tscan-therapeutics-reports-first-quarter-2023-financial-results/?auth_token=2aba5703-2c15-47d3-8454-aae1810f335b
BOARD OF DIRECTORS TCRX BAKER BROS. ADVISORS LP Stephen Biggar, M.D., Ph.D
Stephen Biggar, M.D., Ph.D., has served as a member of our board of directors since March 2021. Dr. Biggar is a partner at Baker Bros. Advisors LP, a biotechnology-focused investment advisor, a firm he joined in April 2000. Dr. Biggar serves on the boards of directors of Kiniksa Pharmaceuticals, Ltd., and Acadia Pharmaceuticals Inc.
Dr. Biggar received an M.D. and a Ph.D. in Immunology from Stanford University and received a B.S. in Genetics from the University of Rochester.
.https://www.tscan.com/leader/stephen-biggar-m-d-ph-d/
TCRX: Novartis collaboration news (old news)
https://www.sec.gov/Archives/edgar/data/1783328/000095012321003678/filename3.htm
https://www.biospace.com/article/tscan-and-novartis-partner-to-develop-immune-therapies-for-solid-tumors/
https://www.biopharminternational.com/view/tscan-therapeutics-novartis-collaborate-t-cell-receptor-therapies
Collaboration period ended March 31/23 = 180 day countdown for Novartis to exercise licensing (Sept.28/23 deadline to advise on intent to license/Tscan notice of intent to license to third party)
Novartis Collaboration:
https://ih.advfn.com/stock-market/NASDAQ/tscan-therapeutics-TCRX/stock-news/91014982/quarterly-report-10-q
"The Company will continue to assess the probability of milestone
payments throughout the180-day right of first negotiation period".
What insights are available into what TCRX might have discovered during the Novartis collaboration period, and to whom would these TCR targets be of concern/value to? And to what monetary value are such TCR discoveries worth/to Novartis/others.
Deadline for the 180-day right of first negotiation period, in and around September 28 by my count.
Given the Amgen news came out, out of nowhere, so to, could news on licensing/Novartis come out anytime to Sept.28/23.
May 17 EVENT, They halted TCRX IMO for Shorts to cover
TScan Therapeutics ASGCT Event: Highlights from Phase 1 Umbrella Trial of TSC-100 and TSC-101
https://lifescievents.com/event/tscan/
Insiders know something. If so, the price will plunge drastically.
Insiders know something.
Offering?
$TCRX TScan Therapeutics ASGCT Event: Highlights from Phase 1 Umbrella Trial of TSC-100 and TSC-101
https://lifescievents.com/event/tscan/
Adding. This is my biggest swinger into double digits!$$$
This is buy, buy and hold: Main reason why I am here is Baker Bros.
TCRX Analysts have set a mean price target of 10.71. This target is 138% above the current price.
TCRX was analyzed by 11 analysts. The buy percentage consensus is at 84. So analysts seem to be very confident about TCRX.
In the previous month the buy percentage consensus was at a similar level.
TCRX was analyzed by 11 analysts, which is quite many. So the average rating should be quite meaningful.
2023-05-11 HC Wainwright & Co. Reiterate Buy -> Buy
https://www.chartmill.com/stock/quote/TCRX/analyst-ratings?utm_source=stocktwits&utm_medium=ANALYST&utm_content=TCRX&utm_campaign=social_tracking
TScan Therapeutics Inc "We're excited to apply our target discovery platform to the autoimmunity space," said Gavin MacBeath, Ph.D., acting chief executive officer and chief scientific and operating officer at TScan. "Our TargetScan platform, which we have now extended to identify MHC class II targets of CD4+ T cells, is well-suited for the discovery of antigens targeted by the immune system in inflammatory bowel disease. We look forward to developing the value of our platform both in this partnership with Amgen and in other autoimmune diseases."
Inflammatory bowel disease (IBD) is a term for two conditions – Crohn's disease and ulcerative colitis – that are characterized by chronic inflammation of the gastrointestinal tract.
About Amgen
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.
Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.
Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's.
For more information, visit Amgen.com and follow us on Twitter, LinkedIn, Instagram, TikTok and YouTube.
About TScan Therapeutics, Inc.
TScan is a clinical-stage biopharmaceutical company focused on the development of T cell receptor (TCR)-engineered T cell therapies (TCR-T) for the treatment of patients with cancer. The Company's lead TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual disease and prevent relapse after allogeneic hematopoietic cell transplantation. The Company is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors. The Company has developed and continues to build its ImmunoBank, the Company's repository of therapeutic TCRs that recognize diverse targets and are associated with multiple HLA types, to provide customized multiplexed TCR-T therapies for patients with a variety of solid tumors.
https://www.prnewswire.com/news-releases/amgen-and-tscan-therapeutics-announce-collaboration-to-identify-novel-targets-in-crohns-disease-301818552.html
Short Vol 2023-05-10 8,496,778 14,636,290 58%
The short sale volume percent (not short interest) for stock ticker TCRX is 58% on May 10, 2023. The short sale volume is 8,496,778. The total volume is 14,636,290.
http://shortvolumes.com/?t=tcrx
TScan Therapeutics, Inc. - 10Q - Quarterly Report - May 10, 2023
https://www.otcmarkets.com/filing/html?id=16638015&guid=kOu-kKnUE8dfJth
"I agree, but we might have to wait for a filing."
Correct, from the 10-Q (March 31/23)
Novartis
In
March 2020,
the Company entered into a Collaboration and License Agreement (the
Novartis Agreement) with Novartis Institutes For Biomedical
Research, Inc. (Novartis) to collaborate on their research efforts
to discover and develop novel TCR-T therapies. At the inception
date of the Novartis Agreement, Novartis or its affiliates held an
ownership interest of more than
10%
in the Company, and at
March 31, 2023,
Novartis held less than
10%
of the common shares outstanding. Under the Novartis Agreement, the
Company will identify and characterize TCRs in accordance with a
research plan and transfer data arising from the research plan.
Novartis will have the option to license and develop TCRs for up to
three novel targets identified in performance of the collaboration
during the collaboration period of the Novartis Agreement. Novartis
will also have rights of first negotiation for certain additional
targets and TCRs identified in performance of the collaboration
during a defined collaboration period of the Novartis Agreement and
for
180 days
after such collaboration period ends (which collaboration period
ended in March 2023). If during such
180-day
right of first negotiation period, the Company notifies Novartis of
the Company’s intent to grant a third party a license to a target
or TCR identified in the collaboration, then Novartis may obtain
the exclusive right to negotiate a license to such target or TCR
for an additional 270 days by providing the Company with a term
sheet to license such target or TCR within 90 days of the Company’s
notice of such intent. The Novartis Agreement provides that the
Company will pay an upfront fee of $20.0
million, research funding totaling $10.0
million and potential milestone payments contingent on clinical,
regulatory and sales success. In addition to payments upon
achievement of certain clinical and regulatory milestones, Novartis
will pay the Company mid-single to low double-digit royalties on
net sales for each product directed to a target licensed by
Novartis. After the end of the collaboration period and the
expiration of Novartis’ first right of negotiation, the Company is
free to develop TCRs against targets not licensed by
Novartis.
The Company concluded that Novartis meets the definition of a
customer, as the Company is delivering research and development
activities and know-how rights. The Company identified performance
obligations for research and development activities, data reporting
and participation in joint steering and research committees. The
Company determined there is a single performance obligation due to
the services being highly interrelated and are therefore not
distinct in the context of the contract. The Company combined the
pre-option research services and data reporting into a single
performance obligation. Novartis has an exclusive option to obtain
a commercial license for up to
three
Targets (as defined in the Novartis Agreement) to pursue further
development and commercialization of the respective Target.
Pursuant to the Novartis Agreement, the option for Novartis to
license, develop, and commercialize Targets is not a performance
obligation at the outset of the Novartis Agreement as it is a
customer option that does not represent a material
right.
The Company looked to the promises in the arrangement to determine
the method of recognition that best coincided with the pattern of
delivery. The Company concluded that the performance of the
research services over the expected research term was the
predominant promise within the performance obligation. The Company
recognized the revenue associated with the performance obligation
using the input method, according to the actual costs incurred as a
percentage of total expected costs to complete the research
services. As costs were incurred, the Company recognized revenue
over time.
The Company determined that the $20.0
million upfront payment, together with the $10.0
million of estimated research costs to be reimbursed by Novartis,
to be the entirety of the consideration to be included in the
transaction price as of the outset of the arrangement. The
potential milestone payments that the Company is eligible to
receive were excluded from the transaction price, as all milestone
amounts were fully constrained based on the assessed probability of
achievement. At this time, the Company has recognized all
consideration in the contract as the performance obligations were
satisfied as of March 31, 2023 and the collaboration period ended.
The Company will continue to assess the probability of milestone
payments throughout the
180-day right of first negotiation period.
The Company recognized $5.8
million and $3.0
million of revenue associated with the Novartis Agreement based on
performance completed during that period for the
three months ended March 31, 2023 and 2022, respectively.
Additionally, the Company incurred $1.9
million and $1.0
million of costs associated with the Novartis Agreement that were
recorded within research and development expenses in the statements
of operations for the
three months ended March 31, 2023 and 2022, respectively. Finally,
as of March 31, 2023,
the Company had
no
deferred revenue as all performance obligations were
satisfied.
The company will host a virtual event on Wednesday, May 17th at 5:30 p.m. ET to discuss highlights from the presentation https://lifescievents.com/event/tscan/
SHORT 2023-05-09 21,279,941 36,487,718 58%
http://shortvolumes.com/?t=tcrx
Incredible accomplishments, enough said. Double digit dollars coming here.
Baker Bros Holdings TSCAN THERAPEUTICS INC
TSCAN THERAPEUTICS INC COM 9,468 UNCH 2,784,792
https://www.nasdaq.com/market-activity/institutional-portfolio/baker-bros-advisors-lp-596248
Baker Brothers’ Philosophy and Strategy
Brothers Julian and Felix Baker have earned their guru status on Wall Street, having delivered an exceptional track record of annualized returns over the years. Julian has a business background from Harvard, while Felix has a Ph.D. in Immunology from Stanford.
Together, they have combined their individual expertise to generate superior returns by focusing solely on the biotech industry. Assets under management grew from $250 million in 2003, to $25.7 billion as of February 15th, 2023.
The fund’s strategy includes utilizing a fundamentally-driven way of investing to come up with its investment decisions, also known as “bottom-up investing”. Unlike top-down investing, which suggests studying the bigger picture of economic factors to make investment decisions, bottom-up investing involves looking at the company-specific fundamentals.
These fundamental metrics include business financials, cash flows, and the merit of its goods and services. This is crucial when investing in the biotech industry, as each company is very unique, requiring niche knowledge to understand its business model.
The fund’s philosophy stands in holding its investments ordinarily for three years, though its higher-conviction investments can be seen held for longer. Additionally, Baker Bros. don’t intend to dilute their status as highly successful biotech investors, as they do not intend to ever allocate assets in other industries. Still, some minor stakes in the industrial sector had been reported in the past.
Finally, the two brothers don’t believe in diversifying the fund’s portfolio. Instead, they emphasize that focusing on specific companies, which they can analyze and understand deeply and place concentrated positions in their securities, can generate superior returns over the long term.
https://www.suredividend.com/baker-brothers/
Yup, this is shaping up for a possible squeeze......
Yup, it is likely going to squeeze big, they want this higher.
Weird trading like a boxing match
Quote, they have presentation on 17th,
7 Days away
Followers
|
3
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
264
|
Created
|
09/23/21
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |