Alaunos Therapeutics (TCRT) investor relations material

Executive summary

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

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

• Exploring strategic alternatives including M&A, asset sales, partnerships, and capital raises; Cantor Fitzgerald engaged as advisor.

• No product revenue; only nominal royalty income; net losses continue and accumulated deficit reached $922.6 million as of June 30, 2025.

Financial highlights

• Net loss of $1.05 million for Q2 2025, compared to $1.13 million in Q2 2024; net loss of $2.12 million for the six months ended June 30, 2025, versus $2.81 million in the prior year period.

• Revenue for Q2 2025 was $0, down from $4,000 in Q2 2024; six-month revenue was $2,000, down from $6,000 year-over-year.

• Research and development expenses increased 3% year-over-year for Q2 2025 and 74% for the six months, mainly due to obesity program consulting and regulatory costs.

• General and administrative expenses decreased 14% for Q2 2025 and 39% for the six months, reflecting cost-cutting and downsized operations.

• Cash and cash equivalents were $2.9 million as of June 30, 2025; working capital was $2.6 million.

Outlook and guidance

• Cash resources expected to fund operations into Q1 2026; additional capital required to continue beyond that period.

• Initial data from obesity program studies anticipated by Q4 2025; advancement to IND-enabling studies contingent on results and financing.

• Actively seeking strategic transactions to maximize stockholder value; no assurance of successful outcome.