Tscan Therapeutics, Inc. income statement
In fiscal 2025, Tscan Therapeutics, Inc. reported revenue of $10.3m, up 266.7% on the year before, operating income of −$136m (a -1315.4% margin) and net income of −$130m, or −$1.00 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 1 | 10 | 14 | 21 | 3 | 10 | 7 |
| Research and development | 21 | 45 | 60 | 88 | 107 | 114 | 97 |
| General and administrative | 7 | 14 | 20 | 26 | 30 | 32 | 31 |
| Operating income | −26 | −49 | −67 | −93 | −135 | −136 | −121 |
| Interest expense | — | — | 1 | 4 | 4 | 3 | 3 |
| Income tax | — | — | — | — | — | 0 | — |
| Net income | −26 | −49 | −66 | −89 | −127 | −130 | −118 |
| Diluted EPS | −$14.26 | −$2.08 | −$2.75 | −$1.36 | −$1.14 | −$1.00 | −$0.91 |
| Diluted shares (average) | 2m | 23m | 24m | 66m | 112m | 130m | 130m |
| EBITDA | −25 | −45 | −62 | −88 | −131 | −133 | −118 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 1 | 2 | 3 | 3 | 3 | 1 | 1 |
| Research and development | 26 | 29 | 30 | 33 | 32 | 20 | 22 | 23 |
| General and administrative | 7 | 8 | 9 | 9 | 8 | 6 | 8 | 8 |
| Operating income | −33 | −37 | −36 | −39 | −37 | −24 | −29 | −30 |
| Interest expense | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Net income | −30 | −36 | −34 | −37 | −36 | −23 | −29 | −30 |
| Diluted EPS | −$0.25 | −$0.30 | −$0.26 | −$0.28 | −$0.28 | −$0.18 | −$0.22 | −$0.23 |
| EBITDA | −32 | −36 | −36 | −38 | −36 | −23 | −28 | −30 |
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