Why Did The Alaunos Therapeutics (TCRT) Stock Surged In The Extended Session?

Alaunos Therapeutics Inc. (Nasdaq: TCRT) saw a 5.28% increase in its share price to $0.73 during after-hours trading. The clinical-stage cell therapy company, which focuses on oncology, announced its targeted landmarks and priorities for tactical advancement which drove its share price up.

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What has TCRT shared?

Last month, Alaunos Therapeutics (TCRT) announced its key objectives for 2023. It was an exciting 2022 for Alaunos Therapeutics when a non-viral TCR-T cell therapy was used to achieve an objective clinical response in a solid tumor patient. With TCRT being well positioned now, the company anticipates to be accelerating the enrollment in 2023. As a result of the addition of two new TCRs to its library, TCRT’s potential market addressable has been doubled.

In December, Alaunos Therapeutics treated a third patient with a KRAS-G12V mutation in the pancreas. A major goal for the upcoming year will be to increase patient enrollment and advance the program to Phase 2. With its accomplishments thus far and as a pioneer in TCR-T cell therapy, TCRT is looking forward to providing treatment to even more patients who need it in the future.

Strategic Priorities and Milestones of the TCRT for 2023:

The FDA approved an amendment in 2022 by TCRT for two novel TCRs that target frequent mutations and HLAs. The company’s TCR-T program could enhance the market share thanks to these TCRs. In September 2022, TCRT announced its first clinical response to its KRAS, TP53, and EGFR mutation trial.

In an amendment filed to switch to cryopreserved product, the company is expanding manufacturing capacity. Furthermore, mbIL-15 TCR-T cell therapy is being developed towards IND submission in the second half of 2023.

TCRT’s financial standings:

During the fourth quarter of 2022, Alaunos Therapeutics (TCRT) had approximately $39.1 million in unaudited cash and cash equivalents, as well as approximately $13.9 million in restricted cash. Current operating plans indicate that the company’s operating cash flow will be between $35 million and $40 million in 2023. It is expected that TCRT will have sufficient cash to fund operations into the fourth quarter of 2023, as well as research and development programs.

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