Alaunos Therapeutics (TCRT) investor relations material

Executive summary

• Focus shifted to preclinical small molecule oral obesity program, with ongoing in vitro and in vivo studies and initial data expected by Q4 2025.

• Oncology TCR-T program wound down due to high costs and challenging financing; workforce reduced by 95% in 2023.

• Exploring strategic alternatives, including asset sales, partnerships, or mergers, with Cantor Fitzgerald engaged as advisor.

Financial highlights

• Net loss of $1.16 million for Q3 2025 and $3.28 million for the nine months ended September 30, 2025, compared to $1.13 million and $3.94 million losses in the same periods last year.

• Revenue for the nine months was $2,000, down from $6,000 year-over-year, all from Solasia royalty.

• Research and development expenses increased 124% year-over-year for the nine months, mainly due to obesity program costs.

• General and administrative expenses decreased 36% year-over-year for the nine months, reflecting cost-cutting and downsizing.

• Cash and cash equivalents were $1.9 million as of September 30, 2025, with a working capital of $1.8 million.

• Accumulated deficit reached $923.7 million as of September 30, 2025.

Outlook and guidance

• Cash runway expected to last into Q1 2026, with a monthly burn rate of $0.28 million.

• Additional capital is required to continue operations beyond March 2026; no committed sources of capital beyond an equity line of credit.

• Substantial doubt exists about the ability to continue as a going concern for at least one year from the report date.

• Strategic alternatives are being actively pursued, but no assurance of successful transaction.