TScan Therapeutics (TCRX) BofA Securities 2025 Healthcare Conference summary

Combination therapy strategy

• ORKA-21 program uses sequential IL-17 induction for rapid skin clearance, followed by IL-23 for maintenance to optimize efficacy and tolerability in psoriasis.

• Physicians have shown strong interest in this approach, which aims to minimize side effects like oral candidiasis.

• ORKA-21 is positioned as a creative, parallel strategy to existing Phase II programs, targeting leadership in psoriasis biologics.

Clinical development timelines

• ORKA-001 is in Phase I, with results expected in the second half of this year.

• Phase II for ORKA-001 in psoriasis will begin in the second half of this year, with data anticipated next year.

• A second program will enter the clinic in Q3, with PK data expected in the first half of next year.

Financial position and funding

• Over $475 million was raised last year, providing funding through all planned clinical readouts and an additional year of runway.

• No need for additional capital is anticipated before the completion of three key clinical milestones.