24/7 Market News Snapshot 26 December, 2024 – TScan Therapeutics, Inc. Common Stock (NASDAQ:TCRX)

December 26, 2024

DENVER, Colo., 26 December, 2024 (247marketnews.com) – (Nasdaq:TCRX) are discussed in this article.
TScan Therapeutics, Inc. (Nasdaq:TCRX) is currently navigating a challenging market landscape, with its shares trading at $3.04 after a 4.47% decline from the previous close of $2.91. The stock opened at $3.43 but experienced early selling pressure, reflecting a bearish sentiment among investors. With a trading volume of 3.09 million shares, the heightened activity indicates significant interest or market volatility, emphasizing the need for careful monitoring of key support and resistance levels, particularly around $2.90 and $3.40, respectively.

In a noteworthy development, TScan has announced a strategic partnership with Lynx1 Capital Management LP, which will facilitate a substantial financial injection of approximately $30 million through a securities purchase agreement. This agreement will allow Lynx1 and its affiliated investment fund to acquire up to 7,500,000 shares of TScan’s common stock via pre-funded warrants at a price of $4.00 per share. This pricing reflects a 37% premium over TScan’s previous closing stock price and a 34% premium compared to the 10-day volume-weighted average closing price, showcasing Lynx1’s confidence in TScan’s future.

This collaboration is poised for closure around December 27, 2024, and signifies Lynx1’s enduring commitment to TScan’s vision of developing transformative T cell receptor (TCR)-engineered therapies for cancer treatment. CEO Gavin MacBeath, Ph.D., voiced appreciation for this investment, reinforcing the belief in TScan’s strategic direction and its potential impact on oncology. CFO Jason A. Amello noted that this funding is expected to extend the company’s operational capabilities into the first quarter of 2027, enabling continued development of cutting-edge TCR-T therapies, which are currently being explored in pivotal clinical trials targeting hematologic malignancies and solid tumors.

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