--- title: "TScan cuts 75% of staff and pauses phase 3 trial for lack of capital" url: "https://aibio.space/news/tscan-cuts-75-percent-staff-pauses-phase-3-trial-lack-capital/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-09-02" section: "Distress" tickers: "NASDAQ:TCRX, NASDAQ:AMGN" source: "https://www.sec.gov/Archives/edgar/data/1783328/000119312526379343/d309786dex991.htm" summary: "TScan will cut about 75% of its workforce, stop enrolling its phase 3 ALLOHA-2 trial for lack of capital and focus on solid tumors. Amgen is also ending a" --- By the aibio.space news desk. Sources - [TScan Therapeutics (press release and SEC Form 8-K)](https://www.sec.gov/Archives/edgar/data/1783328/000119312526379343/d309786dex991.htm) - [TScan 8-K, Sept 2](https://www.sec.gov/Archives/edgar/data/1783328/000119312526379343/d309786d8k.htm) - [TScan 8-K, Aug 18 (Amgen termination)](https://www.sec.gov/Archives/edgar/data/1783328/000119312526355664/d143845d8k.htm) - [TScan Form 10-Q, June 30, 2026](https://www.sec.gov/Archives/edgar/data/1783328/000119312526345749/tcrx-20260630.htm) [TCRX](https://aibio.space/companies/tscan-therapeutics/) [AMGN](https://aibio.space/companies/amgen/) 2026-09-02 # TScan cuts 75% of staff and pauses phase 3 trial for lack of capital Tickers [TCRX](https://aibio.space/companies/tscan-therapeutics/)[AMGN](https://aibio.space/companies/amgen/) TScan will cut about 75% of its workforce, stop enrolling its phase 3 ALLOHA-2 trial for lack of capital and focus on solid tumors. Amgen is also ending a Crohn's disease collaboration, and Nasdaq has warned that the stock failed the $1.00 minimum bid for 30 straight trading days. ## Key facts - **Companies**: TScan Therapeutics, Inc. (NASDAQ: TCRX), Amgen Inc. (NASDAQ: AMGN) - **News type**: Distress - **Primary source**: [TScan Therapeutics (press release and SEC Form 8-K)](https://www.sec.gov/Archives/edgar/data/1783328/000119312526379343/d309786dex991.htm) *The Capitol dome and spring blossom. Photo: Angie Drake, CC0, via Wordpress. The picture shows the field, not the companies named.* TScan Therapeutics said on Sept 2 that it will cut about 75% of its workforce and pause further enrollment in its phase 3 ALLOHA-2 trial of TSC-101. The company cites insufficient capital to complete the study. It says it is now seeking a collaboration partner for TSC-101 and that the remaining resources will go to in vivo-engineered T cell therapies for solid tumors. The Waltham, Massachusetts company says the reorganization extends its cash runway into the fourth quarter of 2027. The company expects to substantially complete the reorganization by the end of the fourth quarter of 2026. It estimates about $4.1 million in employee-related costs, mostly pay continuation and benefits. An 8-K filed with the release says the employment of chief financial officer Jason A. Amello and chief medical officer Chrystal Louis ended effective Sept 2. Chief executive Gavin MacBeath took over the principal financial and accounting officer duties. The company projects cumulative cost savings of $55.0 million through the end of 2027. ## The trial that stopped ALLOHA-2 is TScan's phase 3 study of TSC-101. The release says enrollment is paused "due to insufficient capital" and that the company will allow the data already collected to mature. The phase 1 ALLOHA cohort C data the company released with the same announcement cover 13 patients. TScan says all 13 currently tracked patients show complete donor chimerism, including two who had previously relapsed. Donor chimerism is an engraftment measure, and 13 patients is a small group. The cohort has no stated control arm and the release gives no statistical test for it. The company says an earlier cohort A showed more durable remissions than control-arm patients, and it will keep tracking 7 patients already enrolled on the treatment arm of ALLOHA-2. The company is seeking partners for its heme and autoimmune programs. The release does not name a party in talks. It also says updated cohort C data are due in Q4 2026 and data on all patients treated with the commercial-ready process in Q2 2027. ## The bet on solid tumors TScan has advanced two in vivo-engineered TCR-T candidates into IND-enabling studies, one targeting PRAME and the other MAGE-A4. It plans to start phase 1 development in Q4 2027, so no solid tumor patient has been dosed with either candidate. TScan's existing clinical data come from its heme program, not from solid tumors. The company's 2025 financial statements show the scale of the cut. The 10-K reported a net loss of $129.8 million for 2025, up from $127.5 million in 2024. Cash used in operations was $135.3 million in 2025, against $110.8 million a year earlier. Revenue rose to $10.3 million in 2025 from $2.8 million. Research and development expense was $114.2 million in 2025. Cash and cash equivalents were $100.2 million at June 30, 2026, according to the second-quarter 10-Q, filed Aug 12. ## Amgen and the listing notice On Aug 12, Amgen gave TScan notice that it is ending the research collaboration on Crohn's disease, effective Nov 10, 2026. The 8-K says the agreement, dated May 8, 2023, provided a non-refundable $30.0 million upfront payment, which TScan received in 2023, and success-based milestones of over $500 million in the aggregate. The 8-K says no early termination penalty is payable. The collaboration ends with the company already cutting staff. On Aug 27, Nasdaq notified TScan that its common stock failed the $1.00 minimum bid price for 30 consecutive trading days. The company has until February 23, 2027, to regain compliance. The notice says a second 180-day period is possible, but only if TScan moves to the Nasdaq Capital Market and meets the other listing standards there, and the notice states that the stock continues to trade on the Nasdaq Global Market under "TCRX" for now. The picture is a company with $100.2 million of cash at June 30, cash used in operations of $135.3 million in 2025 against revenue of $10.3 million, a paused phase 3 study, a collaboration partner leaving and a stock below the Nasdaq bid price requirement. The open question the filings leave is whether TScan finds a partner for TSC-101. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story TCRX TScan Therapeutics, Inc. NASDAQ · United States Open the starter desk AMGN Amgen Inc. NASDAQ · United States Open the desk ## More in Distress Distress ### [Mineralys takes ownership of lorundrostat patents but keeps Tanabe milestone debts](https://aibio.space/news/mineralys-takes-ownership-lorundrostat-patents-but-keeps-tanabe/) Oct 29, 2026 Distress ### [Bristol Myers Squibb drops Prothena's PRX019, ending up to $617.5 million in milestones](https://aibio.space/news/bristol-myers-squibb-drops-prothenas-prx019-ending-up-617-5-million/) Oct 29, 2026 Distress ### [LENZ Therapeutics reorganizes to cut 2027 operating expenses by more than 50%](https://aibio.space/news/lenz-therapeutics-reorganizes-cut-2027-operating-expenses-more-50/) Oct 28, 2026 --- Source page: https://aibio.space/news/tscan-cuts-75-percent-staff-pauses-phase-3-trial-lack-capital/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "TScan cuts 75% of staff and pauses phase 3 trial for lack of capital", 2026-09-02, https://aibio.space/news/tscan-cuts-75-percent-staff-pauses-phase-3-trial-lack-capital/