TScan Therapeutics, Inc. Segments Disclosure
14. Segment Reporting
Operating segments are defined as components of the entity for which separate financial information is made available and that is regularly evaluated by the in making decisions regarding resource allocation and assessing performance. The Company's CODM is its chief executive officer and the Company manages its operations as a segment for the purposes of assessing performance and making operating decisions. The Company is focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer.
The CODM assesses the Company's performance by reviewing GAAP net loss and significant expenses by function along with the annual budget. The chief operating decision maker considers budget-to-actual variances on a quarterly basis when making decisions about the allocation of operating and capital resources.
The following table provides information about the Company's single operating segment which includes significant expenses by function along with significant non-cash expense items.
|
Year Ended |
|
|||||
|
2025 |
|
|
2024 |
|
||
Revenue: |
|
|
|
|
|
||
Collaboration and license revenue |
$ |
10,325 |
|
|
$ |
2,816 |
|
Operating expenses: |
|
|
|
|
|
||
Research and development: |
|
|
|
|
|
||
Laboratory supplies, research materials and studies |
|
35,157 |
|
|
|
31,468 |
|
Personnel expenses |
|
33,904 |
|
|
|
31,742 |
|
Facility-related and other |
|
20,068 |
|
|
|
16,669 |
|
Clinical studies |
|
16,847 |
|
|
|
19,245 |
|
Stock-based compensation |
|
5,964 |
|
|
|
4,846 |
|
Depreciation expense |
|
2,210 |
|
|
|
3,380 |
|
General and administrative: |
|
|
|
|
|
||
Personnel expenses |
|
11,415 |
|
|
|
10,900 |
|
Legal and professional fees |
|
7,217 |
|
|
|
7,380 |
|
Facility-related and other |
|
6,958 |
|
|
|
6,576 |
|
Stock-based compensation |
|
5,742 |
|
|
|
4,703 |
|
Depreciation expense |
|
656 |
|
|
|
728 |
|
Other (expense) income: |
|
|
|
|
|
||
Interest and other income, net |
|
8,816 |
|
|
|
12,065 |
|
Interest expense |
|
(2,769 |
) |
|
|
(3,653 |
) |
Loss on extinguishment of debt |
|
- |
|
|
|
(1,090 |
) |
Net Loss |
$ |
(129,766 |
) |
|
$ |
(127,499 |
) |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 4, 2026 | Showing above |
| 2024 | Mar 5, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.