Fate Therapeutics vs Tscan Therapeutics
Tscan Therapeutics is the larger business, with $10.3m of revenue in fiscal 2025 against $6.6m for Fate Therapeutics (1.6 times as much). Tscan Therapeutics grew faster (266.7% against -51.2%). Tscan Therapeutics kept more of each dollar of sales as profit: a net margin of -1256.8% against -2051.1%. Fate Therapeutics carries less debt relative to equity (0.0% against 26.4%).
| Latest fiscal year | Fate TherapeuticsFATE, 2025 | Tscan TherapeuticsTCRX, 2025 |
|---|---|---|
| Revenue | $6.6m | $10.3m |
| Revenue growth | -51.2% | 266.7% |
| Net income | −$136m | −$130m |
| Operating margin | -2222.4% | -1315.4% |
| Net margin | -2051.1% | -1256.8% |
| Return on equity | -51.8% | -71.3% |
| Free cash flow | −$112m | −$140m |
| Cash | $46.6m | $152m |
| Total debt | $0 | $32.5m |
| Debt to equity | 0.0% | 26.4% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 161 | 142 |
| Market value | $236m | $24.4m |
| Price vs our value range | — | — |
| Moat score | 8 (Weak) | 12 (Weak) |
| Insider trades, 12 months | 0 buys, 6 sales | 3 buys, 0 sales |