TScan Therapeutics (TCRX) Research & Development (2020 - 2026)
TScan Therapeutics (TCRX) posted quarterly Research & Development of $21.9 million for Q1 2026, down 26.47% year-over-year from $29.8 million in Q1 2025, and up 9.31% quarter-over-quarter from $20.0 million in Q4 2025.
TScan Therapeutics (TCRX) Research & Development (2020 - 2026) Analysis & Trends
TScan Therapeutics (TCRX) has reported Research & Development for 7 consecutive years, with $21.9 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Research & Development fell 26.47% year-over-year to $21.9 million; the TTM figure through Mar 2026 stood at $106.3 million (down 5.36% YoY), while the FY2025 annual figure was $114.2 million, up 6.33% from the prior year.
- Research & Development grew to $21.9 million in Q1 2026 per TCRX's latest filing, from $20.0 million in the prior quarter.
- Across five years, Research & Development topped out at $32.6 million in Q2 2025 and bottomed at $14.5 million in Q2 2022.
- Historically, Research & Development has averaged $23.0 million across 5 years, with a median of $22.4 million in 2023.
- Annual changes were most pronounced in 2022 — Research & Development soared 100.16% — and 2025, when it sank 31.73%.
- TScan Therapeutics' Research & Development stood at $15.6 million in 2022, then jumped by 43.59% to $22.4 million in 2023, then surged by 31.01% to $29.4 million in 2024, then tumbled by 31.73% to $20.0 million in 2025, then rose by 9.31% to $21.9 million in 2026.
- Business Quant data shows TCRX's Research & Development at $21.9 million in Q1 2026, $20.0 million in Q4 2025, and $31.7 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 1.37 Bn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | 651.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 612.28 Mn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 413.13 Mn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | 210.03 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 97.90 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -588.31 Mn |
| 10 | TScan Therapeutics | 101.63 Mn | 101.63 Mn | - | 23.40 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 23.40 Mn |
| Mar 31, 2026 | 21.90 Mn |
| Dec 31, 2025 | 20.04 Mn |
| Sep 30, 2025 | 31.69 Mn |
| Jun 30, 2025 | 32.63 Mn |
| Mar 31, 2025 | 29.79 Mn |
| Dec 31, 2024 | 29.35 Mn |
| Sep 30, 2024 | 26.26 Mn |
| Jun 30, 2024 | 26.88 Mn |
| Mar 31, 2024 | 24.86 Mn |
| Dec 31, 2023 | 22.41 Mn |
| Sep 30, 2023 | 22.74 Mn |
| Jun 30, 2023 | 21.23 Mn |
| Mar 31, 2023 | 21.78 Mn |
| Dec 31, 2022 | 15.60 Mn |
| Sep 30, 2022 | 15.03 Mn |
| Jun 30, 2022 | 14.49 Mn |
| Mar 31, 2022 | 14.69 Mn |
| Dec 31, 2021 | 12.61 Mn |
| Sep 30, 2021 | 14.21 Mn |