TScan Therapeutics Announces Closing of Public Offering

WALTHAM, Mass., June 01, 2023 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (Nasdaq: TCRX), a clinical-stage biopharmaceutical company focused on the development of T cell receptor (TCR)-engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today announced the closing of an underwritten public offering of 23,287,134 shares of its voting common stock, at a public offering price of $2.00 per share, and pre-funded warrants to purchase up to an aggregate of 47,010,526 shares of its voting common stock at a price to the public of $1.9999 per pre-funded warrant, which represents the per share public offering price for the voting common stock less the $0.0001 per share exercise price for each such pre-funded warrant. The gross proceeds to TScan from this offering, including the partial exercise of the underwriters’ over allotment option, were approximately $140.6 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by TScan.

Morgan Stanley and Wedbush PacGrow acted as joint book-running managers for the offering.

The Company intends to use the net proceeds from the offering for general corporate purposes. Following this offering, the Company expects its existing cash and cash equivalents will enable it to fund its operating expenses and capital expenditure requirements into 2026.

A registration statement on Form S-3 (File No. 333-268260) relating to these securities was filed with the Securities and Exchange Commission (the SEC) on November 9, 2022, and was declared effective by the SEC on May 16, 2023. The offering was made only by means of a preliminary prospectus supplement and accompanying prospectus filed with the SEC. A final prospectus supplement and accompanying prospectus relating to the offering will also be filed with the SEC. These documents are available for free on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, telephone: [phone] or by emailing [e-mail], or Wedbush Securities Inc., Attention: ECM Prospectus Department, 1000 Wilshire Blvd. Los Angeles, CA 90017, phone: [phone].