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TCR2 Therapeutics: Trading Below Cash

Jan. 05, 2022 10:59 PM ETAdaptimmune Therapeutics plc (ADAP)12 Comments


  • TCRR develops cell therapies for solid tumors.
  • The pipeline is in a very early stage, with some early safety scares.
  • The stock is trading way below cash.
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TCR2 Therapeutics (TCRR) develops solid tumor-focused TCR (T Cell Receptor) directed therapies. The company develops what it claims are first-in-class TCR Fusion Construct T cells (TRuC-T cells), which are designed to harness the entire TCR signaling complex. Of the 6

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Comments (12)

biogenius profile picture
Yes, we are still waiting for breakthroughs for solid cancers. I suspect it is going to be a combination with cell therapy being one of the component. I am leaning towards NK myself.
bluescorpion0 profile picture
how does tcr-t compare with car-NK in terms of solid tumor efficacy?
bluescorpion0 profile picture
can cancer cells be salvaged by editing their dna to be normal or is their destruction the only way? Do tumors 'delete' normal cell tissue and is it reversible if the tumor is eradicated?
jondoeuk profile picture
@scorpion.north For CAR-NKs, I'm not aware of much. As for TCR-T's, ADAP should file its first BLA this year. A second registration-directed PhII is ongoing (in esophageal and esophagogastric junction), and a third could start in ovarian (+/- an anti-PD-1). For these, they add a CD8a into CD4+ T-cells and have improved ex vivo expansion [1].

The company has built a number of next-gen constructs, three of which were done with the help of GSK (who signed a deal for up to five TCRs). They are CD8a [1], a dominant-negative TGF-BRII receptor [2] and overexpression of PDE7A or PDE4C (increases resistance to both PGE2/adenosine and enhances apoptosis in target cells). Also, inducible IL-7 and inducible IL-15. In addition, deals with two companies, for IL-7 plus CCL19 [3] and TIPs/SIPs [4].

GSK has a number of trials testing an NY-ESO-1 TCR ongoing as well (including one pivotal). Next into the clinic will target PRAME (clinical data from IMTX [5]), they have a collaboration with LYEL [6], and could add this [7].

1 www.globenewswire.com/...
2 www.jimmunol.org/...
3 mct.aacrjournals.org/...
4 www.alpineimmunesciences.com/...
5 www.globenewswire.com/...
6 www.sec.gov/...
7 d201nm4szfwn7c.cloudfront.net/...
bluescorpion0 profile picture
Thank you. Tcr-t has promise. But car-nk is claimed to be quite big in solids too. You can see here fatetherapeutics.com/...
Quite a few solid projects. Now whether it works or not is another question but the theory is that nk cells are generic attackers and in a way are nature's version of antibody-drug conjugages.
Timely article. TCRR has great respectful management, will pick up pace this Q.

Another such Gem is $SBTX
NDHT profile picture
@Sande traderal Any insights on SBTX? They seem to be twin brothers with Bolt Bio, both are back to their parents' basement now.
I really don't know why companies exist if Boards and Management are not willing to buy shares at a substantial negative enterprise value. They should just attempt to license out any assets they have and liquidate the company, paying the remaining cash to shareholders. Stock could still exist as a tracking stock should any of those assets generate royalties in the future via the license agreement.
@fineprint73 Boards and management are paid positions. Why would they buy stock in an early-stage bio tech knowing dilutions will be required.
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