TScan Therapeutics, Inc. (TCRX) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: November 12, 2025

Risk Assessment Details

Potential Dilution: 180.11% of current shares
Recent Dilution: 16.39% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
52M
Potential Supply
95M
Additional shares possible
Splits
None
Past 2 years

Summary

TCRX currently has 52.5M outstanding shares. with significant dilution risk as 94.5M authorized shares could dilute existing holders by 180.1%. The company has diluted shareholders by 16.39% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Nov 12, 2025

10-Q filing | 52.5M shares outstanding

52M 95M
May 06, 2025

10-Q filing | 52.3M shares outstanding

52M 95M
Mar 05, 2025

10-K filing | 52.3M shares outstanding

52M 95M
Mar 05, 2025

S-3 filing: Tscan Therapeutics files an S-3 to offer up to $300,000,000 in aggregate principal amount of its voting common stock, non-voting common stock, preferred stock, debt securities, warrants and/or units.

57M 95M
Nov 21, 2024

8-K filing: TScan Therapeutics, Inc. issued 3,134,796 shares of voting common stock to a lender on November 20, 2024, upon conversion of $15 million of principal amount of a loan at a conversion price of $4.785 per share, pursuant to a conversion notice received on November 15, 2024.

49M 95M
Nov 12, 2024

10-Q filing | 49.1M shares outstanding

49M 95M
Aug 12, 2024

10-Q filing | 48.7M shares outstanding

49M 95M
May 13, 2024

10-Q filing | 48.6M shares outstanding

49M 95M
Mar 06, 2024

10-K filing | 43.6M shares outstanding

44M 95M
Mar 06, 2024

S-3 filing: TSCAN Therapeutics, Inc. may from time to time issue up to $300,000,000 in aggregate principal amount of voting common stock, non-voting common stock, preferred stock, and debt securities.

44M 95M
Nov 09, 2023

10-Q filing | 43.5M shares outstanding

44M 95M
Aug 10, 2023

10-Q filing | 47.2M shares outstanding

47M 95M
May 16, 2023

S-3/A filing: This is an S-3/A filing related to a shelf registration statement.

19M 95M
May 16, 2023

S-3/A filing: This is an S-3/A filing. The filing discusses undertakings related to offers or sales being made and post-effective amendments to the registration statement.

19M 95M
May 10, 2023

10-Q filing | 19.5M shares outstanding

19M 95M
Mar 08, 2023

10-K filing | 19.1M shares outstanding

19M 95M
Nov 09, 2022

S-3 filing: This S-3 filing covers the offer and resale of 2,784,792 shares of voting common stock and 4,276,588 shares of non-voting common stock by selling stockholders.

19M 95M
Nov 09, 2022

10-Q filing | 18.9M shares outstanding

19M 95M
Nov 09, 2022

S-3 filing: Tscan Therapeutics files an S-3 registration statement to offer up to $250,000,000 in voting common stock, preferred stock, debt securities, warrants and/or units.

19M 95M
Aug 10, 2022

10-Q filing | 18.9M shares outstanding

19M 940K
May 12, 2022

10-Q filing | 18.9M shares outstanding

19M 940K
Mar 09, 2022

10-K filing | 24.0M shares outstanding

24M 940K
Nov 10, 2021

10-Q filing | 18.6M shares outstanding

19M 940K
Aug 19, 2021

10-Q filing | 18.8M shares outstanding

19M 940K
Jul 12, 2021

S-1/A filing: This S-1/A filing details a proposed offering of common stock, with an option for underwriters to purchase additional shares, and information regarding previous sales of Series B convertible preferred stock to various entities.

N/A 940K
May 14, 2021

S-1/A filing: This is an S-1/A filing for an initial public offering of common stock. It includes details regarding a Series B convertible preferred stock financing, and an option for underwriters to purchase additional shares.

N/A 0
May 05, 2021

S-1/A filing: This is an S-1/A filing for common stock. Details include ranking, voting rights, dividends, and liquidation procedures for both Voting and Non-Voting Common Stock.

N/A 0
Apr 30, 2021

S-1/A filing: S-1/A filing describing Series B Convertible Preferred Stock Financing

N/A 0
Apr 23, 2021

S-1 filing: The filing details the issuance and sale of Series B convertible preferred stock in July, August and November 2019.

N/A 0
Weekly Research

Get Weekly Super Stonk Alerts

Never miss a squeeze opportunity. Get our weekly analysis of high short interest stocks, AI-discovered gems, and dilution warnings delivered to your inbox.

No spam Unsubscribe anytime