All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
1 warning event since 2019; the latest 2026-09-02.
From the record
TScan Therapeutics, Inc.'s filings since 2019 show 1 warning event: a notice about its exchange listing (8-K item 3.01, the latest 2026-09-02) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
+56.9% a year over 6 filed years; profitable in 0 of 6.
From the record
TScan Therapeutics, Inc.'s 6 filed years say what it did: revenue went from $1 million in fiscal 2020 to $10 million in fiscal 2025, up 56.9% a year; it rose in 4 of 5 years; the deepest fall was 87% from fiscal 2023 to fiscal 2024; net income was positive in 0 of 6 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
SI estimate 1.9/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: TScan Therapeutics, Inc.'s shareholder treatment is put at 1.9 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 20% of 146 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.
What are they doing right now?
Is it financially healthy right now?
ROE -105%: lost 105¢ per shareholder dollar. Leverage 46%: owes 46¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, TScan Therapeutics, Inc. lost about 105 cents for every dollar of shareholders' money. Leverage: it owed about 46 cents per dollar of assets, and net share issuance: its share count grew 15.9% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
bottom 33% of 102 in its family; net margin -1256.8%.
From the record
TScan Therapeutics, Inc.'s standing among 102 graded names in its industry family: revenue of $10 million in fiscal 2025 ranks in the bottom 39% by size; a net margin of -1256.8% ranks in the bottom 31%; revenue growth of -8.6% a year over the last 3 filed years ranks in the bottom 29% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
bottom 29% of 110 in its family for leadership; chief executive since 2023.
From the record
TScan Therapeutics, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Macbeath, Gavin (Chief Executive Officer, as filed), filing under that title since 2023-06-15, 3.4 years (bottom 37% of its family); the 12 officers and directors filing in the last fifteen months have been on the record a median of 4.4 years (bottom 28%); 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 12 people in charge now (bottom 24%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
top 43% of 92 in its family for room to expand.
From the record
TScan Therapeutics, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $157 million against debt of $33 million leaves 54.6% of its assets as net cash, top 29% of its family; cash from operations less capital spending is -1353.3% of revenue (bottom 24%); research spending of 1105.6% of revenue (top 25%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
top 34% of 100 in its family for growth drivers.
From the record
TScan Therapeutics, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -8.6% a year over the last three filed years against 56.9% over all 6, slowing (bottom 10% of its family); the newest year grew 267% (top 9%); research spending grew 24% a year (top 14%); capital spending grew 1.4% a year (top 24%) (its annual reports). TScan Therapeutics, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
top 36% of 72 in its family for expectations against reality.
From the record
TScan Therapeutics, Inc.'s newest year against its own record: revenue of $10 million in fiscal 2025 came in 703.4% above the $1 million its prior three years' pace pointed to (top 5% of its family); net income of $130 million against a prior three-year average of $94 million (bottom 21%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 23%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made