TScan Therapeutics (TCRX) Stock Forecast & Price Target

TScan Therapeutics is supported by encouraging Cohort C data showing that all 13 patients achieved complete donor chimerism as of August 27th, including two patients who relapsed but later responded after a third dose of TSC-101 and/or maintenance therapy. The 6-month relapse rate of about 20% across 14 patients, most of whom were MRD+, compares favorably with historic post-HSCT relapse rates of roughly 45% in MRD+ patients and 20% in MRD- patients, reinforcing the potential clinical value of its TCR-T approach in preventing relapse. Ongoing catalysts, including an ASH update in 4Q:26 and a ≥1-year update in 2Q:27 with all patients plus the 7 patients from ALLOHA-2, provide additional opportunities to validate durability and strengthen the investment case.

TScan Therapeutics is now a materially weaker story because it has paused ALLOHA-2, removing its most clinically advanced asset and the main driver of the prior valuation, while shifting to two early in vivo TCR-T programs that have no clinical data and do not expect an IND until 3Q27. The restructuring cuts about 75% of the workforce, eliminates internal manufacturing, and is expected to save $55M and extend runway into 4Q27, but that runway appears only enough to reach first Phase 1 entry and still leaves a meaningful financing overhang. With TSC-101 now dependent on a strategic partner and the company facing regulatory, development, manufacturing, and dilution risk, the thesis shifts from late-stage clinical execution to cash preservation and highly uncertain optionality.