Alaunos Therapeutics, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsAlaunos Therapeutics is a clinical-stage pharmaceutical company that has discontinued its prior cell therapy work and is now advancing a preclinical oral small-molecule program for obesity and metabolic disorders, with no product revenue and minimal cash.
What they do
Alaunos Therapeutics, Inc. is a Delaware-incorporated pharmaceutical preparations company listed on the Nasdaq Capital Market under the ticker TCRT. As described in its latest 10-Q, the company is advancing an internally developed, preclinical small-molecule oral Obesity and Metabolic Disorders Program focused on a non-hormonal mechanism of action. Its lead compound, ALN1003, has been evaluated in non-GLP diet-induced obesity (DIO) mouse studies; the company has not generated any product revenue.
Revenue drivers
- No product revenue — The company states it has not generated any product revenue and has incurred significant net losses in each year since inception in 2003.
- Historical annual revenue — Reported annual revenue was $398,000 in 2021, $2.9 million in 2022, $5,000 in 2023, $10,000 in 2024, and $5,000 in 2025; recent quarterly revenue was $3,000 in Q4 2025 and $0 in Q1 and Q2 2026.
- ALN1003 preclinical program — The company's stated value driver is its internally developed, preclinical oral small-molecule program for obesity and related metabolic disorders; it is not yet a source of revenue.
Recent performance
For the six months ended June 30, 2026, Alaunos reported a net loss of $1.9 million. Recent quarterly revenue was $0.00 for the quarters ended September 30, 2025 and March 31, 2026, and June 30, 2026, with $3,000 in the quarter ended December 31, 2025. As of June 30, 2026, the company had total assets of $1.5 million, total liabilities of $864,000, shareholder equity of $652,000, and cash and equivalents of $124,000. Full-year net losses were $4.2 million in 2025 and $4.7 million in 2024, with operating cash flow of negative $2.9 million in 2025.
Strategy
The company is focused on advancing its internally developed preclinical small-molecule oral Obesity and Metabolic Disorders Program, with lead compound ALN1003. It reported proof-of-concept in diet-induced obesity mouse models and additional preclinical data on insulin-resistance-related biomarkers and liver histology. The program targets a non-hormonal mechanism of action intended to address limitations of existing hormonal therapies, including improved tolerability. The company also disclosed in its 10-K/A that a delisting notice or listing-rule failure event was reported on April 15, 2026.
Risks
- Preclinical stage — ALN1003 is a preclinical compound and has not entered human clinical trials, so safety and efficacy in humans are unestablished.
- No product revenue — The company has not generated any product revenue and has incurred significant net losses each year since inception in 2003, with an accumulated deficit of approximately $926.6 million as of June 30, 2026.
- Limited cash — As of June 30, 2026, the company had $124,000 in cash and equivalents against total liabilities of $864,000.
- Nasdaq listing — The company reported a delisting notice or listing-rule failure event on April 15, 2026, per its 8-K filings.
Outlook
Management states it expects to continue to incur significant operating expenditures and net losses for the foreseeable future as it advances the ALN1003 preclinical obesity and metabolic disorders program. The disclosed preclinical findings support continued development of ALN1003 for metabolic syndrome and related conditions. The company has not provided product revenue guidance.