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TCR2 Therapeutics Inc. (Nasdaq: TCRR) announced the approval of inducement stock options for two new non-executive hires. The Compensation Committee granted options covering 6,000 shares, with an exercise price of $1.50, the closing market price on the grant date. These options have a ten-year term, vesting over four years with 25% vesting on the first anniversary and the remaining 75% in monthly installments, contingent on continued employment. This move is in accordance with Nasdaq Listing Rule 5635(c)(4). TCR2 focuses on developing novel T cell therapies for solid tumors using its proprietary TRuC platform.
TCR² Therapeutics Inc. (TCRR) announced a strategic all-stock combination with Adaptimmune Therapeutics to create a leading cell therapy company targeting solid tumors. The transaction, expected to close in Q2 2023, will see Adaptimmune shareholders own approximately 75% of the new entity. The merger aims to leverage complementary technologies to address the substantial market for solid tumor treatments. TCR² reported a Q4 2022 net loss of $60.5 million, up from $27.7 million year-over-year, with R&D expenses increasing to $25.7 million. The company ended 2022 with $149.2 million in cash, which supports its operational runway into 2026.
Adaptimmune and TCR² Therapeutics have entered a definitive agreement to merge in an all-stock transaction, creating a prominent cell therapy company focused on solid tumors. Post-completion, Adaptimmune shareholders will own approximately 75%, while TCR² stockholders will hold about 25% of the combined entity. The merger enhances clinical development capabilities, with promising early- and late-stage data for engineered T-cell therapies targeting MAGE-A4 and mesothelin. The transaction is expected to extend the combined company’s cash runway into 2026, supporting multiple near-term clinical catalysts, including submissions and trials for products targeting significant cancer types.
CAMBRIDGE, Mass., Feb. 08, 2023 – TCR² Therapeutics Inc. (Nasdaq: TCRR) announced a management presentation at the SVB Securities Global Biopharma Conference (virtual) on February 14, 2023, at 1:00 PM ET. This event will provide an update on the company’s progress in developing novel T cell therapies for solid tumors.
A live webcast is accessible via the company’s Investors page, with an archived replay available for 30 days post-presentation.
TCR² Therapeutics focuses on innovative T cell therapies, using their proprietary TRuC®-T cells to target and eliminate cancer cells effectively.
TCR2 Therapeutics Inc. (Nasdaq: TCRR) announced the approval of inducement stock options totaling 9,600 shares to three new non-executive employees. The options have an exercise price of $0.83, corresponding to TCR2’s recent market close. These options will vest over four years, with a quarter becoming available after the first year and the remainder vesting monthly over the next three years. This move aligns with Nasdaq Listing Rule 5635(c)(4) and is part of TCR2’s strategy to attract talent in the competitive biotech sector.
TCR2 Therapeutics (TCRR) has announced prioritization for 2023, focusing on the gavo-cel Phase 2 clinical trial for ovarian cancer. The trial aims to produce meaningful durability data in the second half of 2023. The company is also advancing its second-generation T cell therapies, TC-510 and TC-520, with the Phase 1 trial of TC-510 already underway. To streamline operations, TCR2 will reduce its workforce by approximately 40%, extending its cash runway into early 2025 due to cost savings.
TCR2 Therapeutics Inc. (Nasdaq: TCRR) announced that its Compensation Committee approved inducement stock options for 24,400 shares of common stock to three new non-executive employees. The options have an exercise price of $1.33, matching the closing market price on the grant date. These options will vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting monthly over the next three years, contingent upon continued employment. TCR2 focuses on developing novel T cell therapies for solid tumors using its proprietary TRuC platform.
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