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Investing.com -- Tscan Therapeutics Inc (NASDAQ:TCRX) stock plummeted 41.3% on Monday after the clinical-stage biotechnology company announced it would pause enrollment in its solid tumor trial to prioritize its hematologic malignancies program.
The company revealed a significant strategic shift, including a 30% workforce reduction affecting 66 employees, as it focuses resources on its TSC-101 program for acute myeloid leukemia and myelodysplastic syndromes. Tscan has reached an agreement with the FDA on the pivotal study design for TSC-101 following a positive End-of-Phase 1 meeting.
Despite dosing its first two patients with multiplex TCR-T therapy in its solid tumor PLEXI-T trial in October, the company is halting further enrollment while shifting preclinical efforts toward developing in vivo-engineered TCR-Ts for solid tumors. Tscan still plans to share initial data from the paused trial in Q1 2026.
"We are encouraged by the positive feedback from the FDA on our heme program and our pivotal trial design for TSC-101," said Gavin MacBeath, CEO of Tscan. "With our new strategic focus on clinical execution within the heme program, we are pausing further enrollment in the PLEXI-T trial and shifting efforts to the preclinical development of an in vivo engineering platform for solid tumors."
The company expects the strategic prioritization to generate annual cost savings of approximately $45 million in 2026 and 2027, extending its cash runway into the second half of 2027. Tscan anticipates recording a one-time charge of up to $2.3 million in Q4 2025 for severance-related benefits and other costs.
Tscan plans to launch its pivotal trial for TSC-101 in Q2 2026 and will present updated clinical data from its Phase 1 ALLOHA trial at the American Society of Hematology Annual Meeting on December 6.
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