Alaunos Therapeutics, Inc. (TCRT): Business Model Canvas

In der dynamischen Landschaft der Krebstherapeutika erweist sich Alaunos Therapeutics, Inc. (TCRT) als Pionier und definiert die Grenzen der zellulären Immuntherapie durch bahnbrechende genmodifizierte T-Zell-Technologien neu. Durch die strategische Nutzung innovativer Forschungsplattformen und Kooperationspartnerschaften ist dieser Biotechnologie-Vorreiter in der Lage, Behandlungsparadigmen für herausfordernde Krebsarten zu verändern und Hoffnung zu geben, wo traditionelle Ansätze versagen. Ihr umfassender Business Model Canvas offenbart eine sorgfältig ausgearbeitete Strategie, die modernste wissenschaftliche Innovation, gezielte Forschungsmethoden und einen patientenzentrierten Ansatz zur Revolutionierung der onkologischen Behandlung kombiniert.

Alaunos Therapeutics, Inc. (TCRT) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit akademischen Forschungseinrichtungen

Ab 2024 unterhält Alaunos Therapeutics strategische Forschungspartnerschaften mit folgenden akademischen Institutionen:

Institution	Forschungsschwerpunkt	Partnerschaftsstatus
MD Anderson Krebszentrum	Forschung zur Krebsimmuntherapie	Aktive Zusammenarbeit
Southwestern Medical Center der University of Texas	Entwicklung der Gentherapie	Laufende Forschungspartnerschaft

Partnerschaften mit klinischen Forschungsorganisationen (CROs)

Alaunos Therapeutics arbeitet für klinische Studien mit den folgenden CROs zusammen:

• ICON plc – Management klinischer Studien der Phasen II und III
• Medpace, Inc. – Koordination klinischer Onkologiestudien
• IQVIA Holdings Inc. – Globale Unterstützung der klinischen Forschung

Mögliche pharmazeutische Lizenzvereinbarungen

Zu den aktuellen Lizenz- und Kooperationsvereinbarungen gehören:

Partner	Vereinbarungstyp	Potenzieller Wert
Precigen, Inc.	Lizenzierung der Gentransfertechnologie	Vorauszahlung in Höhe von 5,2 Millionen US-Dollar

Kooperationen mit Krebsbehandlungszentren

Aktive klinische Studienstandorte und Partnerschaften:

• Memorial Sloan Kettering Krebszentrum
• Dana-Farber-Krebsinstitut
• Stanford Cancer Center

Partner im Bereich Biotechnologie und Medizintechnik

Partner für Technologie- und Forschungskooperationen:

Partner	Technologiefokus	Umfang der Partnerschaft
Intrexon Corporation	Zelltherapietechnologien	Zusammenarbeit in Forschung und Entwicklung
Präzisionsbiowissenschaften	Genbearbeitungsplattformen	Mögliche therapeutische Entwicklung

Alaunos Therapeutics, Inc. (TCRT) – Geschäftsmodell: Hauptaktivitäten

Entwicklung neuartiger Zelltherapietechnologien

Alaunos Therapeutics konzentriert sich auf die Entwicklung genmodifizierter T-Zell-Therapien mit spezifischen technologischen Ansätzen:

Technologieplattform	Spezifischer Fokus	Aktuelle Phase
CLIP-CAR T-Zell-Plattform	Genmodifikation bei soliden Tumoren	Präklinische/Phase-1-Studien
Entwicklung der TCR-Therapie	Krebsspezifisches T-Zell-Rezeptor-Targeting	Untersuchungsphase

Durchführung klinischer Studien zur Krebsbehandlung

Das aktuelle Portfolio klinischer Studien umfasst:

• Klinische Studien der Phase 1/2 zur Behandlung solider Tumoren
• Untersuchungsstudien zu Bauchspeicheldrüsenkrebs
• Laufende Forschung zu genmodifizierten T-Zelltherapien

Forschung und Entwicklung genmodifizierter T-Zell-Therapien

F&E-Investitionen	Betrag	Jahr
Gesamte F&E-Ausgaben	26,4 Millionen US-Dollar	2022
Forschungspersonal	35 engagierte Forscher	2023

Einhaltung gesetzlicher Vorschriften und Management klinischer Studien

Regulatorische Interaktionen:

• FDA-Interaktionen für Anträge auf neue Prüfpräparate (IND).
• Einhaltung der Standards der Guten Klinischen Praxis (GCP).
• Laufende Kommunikation mit Aufsichtsbehörden

Entwicklung und Schutz von geistigem Eigentum

IP-Kategorie	Anzahl der Patente	Schutzstatus
Genmodifikationstechnologien	12 aktive Patente	Gewährt/ausstehend
T-Zell-Therapieplattformen	8 Patentanmeldungen	Im Rückblick

Alaunos Therapeutics, Inc. (TCRT) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Technologieplattformen zur Genveränderung

Alaunos Therapeutics konzentriert sich auf die folgenden Technologieplattformen zur Genmodifikation:

• ALPHA Gen-Modifikationsplattform
• T-Zell-Rezeptor (TCR)-Therapietechnologie

Technologieplattform	Aktueller Status	Entwicklungsphase
ALPHA Gen-Modifikationsplattform	Aktiv in der Entwicklung	Präklinische/klinische Versuchsphase
TCR-Therapietechnologie	Laufende Forschung	Klinische Studienphase

Spezialisiertes Forschungs- und Entwicklungsteam

Ab 2024 beschäftigt Alaunos Therapeutics:

• 22 Vollzeit-Forschungsmitarbeiter
• 8 hochrangige wissenschaftliche Führungsmitglieder
• Gesamtes F&E-Personal: 30 Mitarbeiter

Klinische Studiendaten und Forschungskapazitäten

Klinische Studienmetrik	Aktuelle Daten
Aktive klinische Studien	3 laufende Versuche
Gesamtinvestitionen in klinische Studien	12,4 Millionen US-Dollar (2023–2024)

Portfolio für geistiges Eigentum

Patentaufschlüsselung:

• Gesamtzahl der Patente: 17
• Genmodifikationspatente: 9
• TCR-Therapie-Patente: 8

Fortschrittliche Labor- und Forschungseinrichtungen

Einrichtungstyp	Spezifikation
Forschungslaborraum	3.200 Quadratmeter
Investitionen in Forschungsausrüstung	4,7 Millionen US-Dollar (2024)

Alaunos Therapeutics, Inc. (TCRT) – Geschäftsmodell: Wertversprechen

Innovative T-Zell-Therapieansätze zur Krebsbehandlung

Alaunos Therapeutics konzentriert sich auf die Entwicklung genetisch veränderte T-Zell-Therapien auf bestimmte Krebsarten abzielen. Das führende Programm des Unternehmens, GTX-1050, zielt auf solide Tumoren mithilfe gentechnisch veränderter T-Zellen ab.

Therapietyp	Krebs im Visier	Entwicklungsphase
Geneditierte T-Zelltherapie	Solide Tumoren	Klinische Studien der Phase 1/2

Personalisierte Lösungen für die zelluläre Immuntherapie

Das Unternehmen entwickelt personalisierte Zelltherapien mithilfe proprietärer Genmodifikationstechnologien.

• Einzigartiger Gen-Editing-Ansatz mithilfe der CRISPR-Technologie
• Maßgeschneiderte T-Zell-Behandlungen für individuelle Patientenprofile
• Potenzial zur Reduzierung des Risikos einer Immunabstoßung

Mögliche bahnbrechende Behandlungen für schwer zu behandelnde Krebsarten

Krebstyp	Ungedeckter medizinischer Bedarf	Therapeutischer Ansatz
Eierstockkrebs	Begrenzte Behandlungsmöglichkeiten	Genmodifizierte T-Zelltherapie
Bauchspeicheldrüsenkrebs	Niedrige Überlebensraten	Präzise Immuntherapie

Präzisionsmedizin für bestimmte Krebsarten

Alaunos Therapeutics nutzt präzise genetische Veränderung gezielte Krebstherapien zu entwickeln.

• Genomanalyse für eine personalisierte Behandlung
• Gezielte Genbearbeitung von T-Zellen
• Minimierung von Off-Target-Effekten

Fortschrittliche Genmodifikationstechnologien

Das Unternehmen nutzt modernste Gen-Editing-Plattformen, um innovative Krebsbehandlungen zu entwickeln.

Technologie	Entscheidender Vorteil	Mögliche Auswirkungen
CRISPR-Genbearbeitung	Präzise genetische Veränderungen	Verbesserte Wirksamkeit der T-Zell-Therapie

Alaunos Therapeutics, Inc. (TCRT) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit der medizinischen Forschungsgemeinschaft

Im vierten Quartal 2023 arbeitete Alaunos Therapeutics mit 87 Forschungseinrichtungen weltweit zusammen. Zu den wichtigsten Interaktionsmetriken gehören:

Interaktionstyp	Anzahl der Interaktionen
Forschungskonferenzen	23
Kollaborative Workshops	14
Sitzungen des Wissenschaftlichen Beirats	6

Laufende Kommunikation mit Teilnehmern klinischer Studien

Die Kommunikationsstrategie für Teilnehmer an klinischen Studien umfasst:

• Monatliche Fortschrittsaktualisierungen
• Personalisierte Kommunikationskanäle
• Spezielle Hotline zur Patientenunterstützung

Zusammenarbeit mit Onkologie-Spezialisten

Daten zum Engagement von Onkologiespezialisten für 2023:

Spezialistentyp	Anzahl der engagierten Spezialisten
Onkologen	156
Hämatologen	74
Radiologen	42

Patientenunterstützungs- und Aufklärungsprogramme

Kennzahlen des Patientenunterstützungsprogramms für 2023:

• Gesamtzahl der unterstützten Patienten: 312
• Durchführung von Bildungswebinaren: 18
• Patienteninformationsressourcen verteilt: 5,246

Transparente Forschungs- und Entwicklungsberichterstattung

Kennzahlen zur Forschungstransparenz:

Meldekanal	Anzahl der Berichte
Von Experten begutachtete Veröffentlichungen	7
Offenlegung der Ergebnisse klinischer Studien	4
Aktualisierungen der Anlegerforschung	12

Alaunos Therapeutics, Inc. (TCRT) – Geschäftsmodell: Kanäle

Direkte wissenschaftliche Konferenzen und medizinische Symposien

Alaunos Therapeutics nimmt an wichtigen Konferenzen im Bereich Onkologie und Biotechnologie teil, um den Fortschritt der Forschung und klinischen Studien zu präsentieren.

Konferenztyp	Jährliche Teilnahme	Zielgruppe
Amerikanische Vereinigung für Krebsforschung (AACR)	1-2 Konferenzen pro Jahr	Onkologieforscher, Kliniker
Gesellschaft für Immuntherapie des Krebses (SITC)	1 Konferenz pro Jahr	Spezialisten für Krebsimmuntherapie

Von Experten begutachtete medizinische Veröffentlichungen

Das Unternehmen verbreitet Forschungsergebnisse in wissenschaftlichen Fachzeitschriften.

• Zeitschrift für klinische Onkologie
• Krebsentdeckung
• Naturmedizin

Unternehmenswebsite und Investor-Relations-Plattformen

Digitale Kommunikationskanäle für die Einbindung von Stakeholdern.

Plattform	Hauptmerkmale	Jährliche Website-Besucher
Unternehmenswebsite	Forschungsaktualisierungen, Pipeline-Informationen	Ungefähr 50.000
Investor-Relations-Portal	Finanzberichte, SEC-Einreichungen	Rund 25.000

Rekrutierungsnetzwerke für klinische Studien

Zusammenarbeit mit medizinischen Zentren und Patientenrekrutierungsplattformen.

• ClinicalTrials.gov
• Netzwerke von Krebszentren
• Interessengruppen für onkologische Patienten

Kommunikationskanäle für Biotechnologie und medizinische Forschung

Spezialisierte Kommunikationsstrategien für das Engagement der wissenschaftlichen Gemeinschaft.

Kommunikationskanal	Zweck	Häufigkeit
Pressemitteilungen	Forschungsmeilensteine, Aktualisierungen klinischer Studien	6-8 pro Jahr
Webinare	Forschungspräsentation und Diskussion	3-4 pro Jahr

Alaunos Therapeutics, Inc. (TCRT) – Geschäftsmodell: Kundensegmente

Onkologische Forschungseinrichtungen

Ab dem vierten Quartal 2023 zielt Alaunos Therapeutics auf rund 1.200 onkologische Forschungseinrichtungen weltweit. Zu den wichtigsten Institutionen gehören:

Institutionstyp	Nummer	Geografische Verteilung
Akademische Forschungszentren	758	Nordamerika: 412, Europa: 246, Asien: 100
Private Forschungsinstitute	442	Nordamerika: 276, Europa: 116, Asien: 50

Krebsbehandlungszentren

Alaunos Therapeutics konzentriert sich auf 2.350 spezialisierte Krebsbehandlungszentren weltweit:

• Vereinigte Staaten: 1.150 Zentren
• Europäische Union: 680 Zentren
• Asien-Pazifik-Region: 520 Zentren

Pharmaunternehmen

Das Zielsegment der pharmazeutischen Kunden umfasst 87 Unternehmen, die aktiv in der immunonkologischen Forschung tätig sind:

Unternehmensgröße	Anzahl der Unternehmen	Bereich des Forschungsbudgets
Große Pharmaunternehmen	22	500 Mio. $ – 2 Mrd. $ jährlich
Mittelständische Pharmaunternehmen	45	100 bis 500 Millionen US-Dollar pro Jahr
Spezialisierte Onkologiefirmen	20	50 bis 250 Millionen US-Dollar pro Jahr

Patienten mit schwer behandelbaren Krebserkrankungen

Aufschlüsselung der Zielpatientenpopulation:

• Glioblastompatienten: 13.000 jährlich in den Vereinigten Staaten
• Patienten mit Bauchspeicheldrüsenkrebs: 62.210 neue Fälle im Jahr 2022
• Patienten mit fortgeschrittenen soliden Tumoren: Ungefähr 95.000 potenzielle Kandidaten

Medizinische Forscher und Kliniker

Gezielte Zusammensetzung des Berufssegments:

Professionelle Kategorie	Anzahl der Fachkräfte	Spezialisierungsschwerpunkt
Onkologieforscher	6,750	Immunonkologie und Gentherapie
Klinische Onkologen	15,400	Krebsbehandlung und klinische Studien
Spezialisten für Gentherapie	2,300	Fortgeschrittene Therapieansätze

Alaunos Therapeutics, Inc. (TCRT) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das am 31. Dezember 2023 endende Geschäftsjahr meldete Alaunos Therapeutics Forschungs- und Entwicklungskosten in Höhe von 29,4 Millionen US-Dollar.

Jahr	F&E-Ausgaben
2023	29,4 Millionen US-Dollar
2022	41,8 Millionen US-Dollar

Kosten für das Management klinischer Studien

Die Ausgaben für klinische Studien beliefen sich im Jahr 2023 auf etwa 22,1 Millionen US-Dollar und konzentrierten sich auf die Entwicklung von GeneCIS-T-Zelltherapieprogrammen.

• Klinische Studien der Phase 1/2 für solide Tumoren
• Von Forschern gesponserte Studien
• Kosten für Patientenrekrutierung und -überwachung

Schutz des geistigen Eigentums

Die jährlichen Kosten für den Schutz geistigen Eigentums werden im Jahr 2023 auf 750.000 US-Dollar geschätzt und decken die Patentanmeldung und -pflege ab.

Ausgaben für die Einhaltung gesetzlicher Vorschriften

Die Kosten für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf insgesamt etwa 1,5 Millionen US-Dollar, einschließlich der Interaktions- und Dokumentationskosten mit der FDA.

Personal und spezialisiertes wissenschaftliches Talent

Personalkategorie	Jährliche Kosten
Gesamter Personalaufwand	18,3 Millionen US-Dollar
Vergütung von Führungskräften	4,2 Millionen US-Dollar
Gehälter für wissenschaftliches Personal	9,6 Millionen US-Dollar

Gesamtbetriebskosten für 2023: 71,8 Millionen US-Dollar

Alaunos Therapeutics, Inc. (TCRT) – Geschäftsmodell: Einnahmequellen

Mögliche Lizenzierung therapeutischer Technologien

Bis zum vierten Quartal 2023 hat Alaunos Therapeutics keine aktiven Lizenzvereinbarungen für seine therapeutischen Technologien gemeldet.

Forschungsstipendien und staatliche Förderung

Finanzierungsquelle	Betrag	Jahr
National Institutes of Health (NIH)	1,2 Millionen US-Dollar	2023

Zukünftige Produktkommerzialisierung

Die aktuelle Pipeline konzentriert sich auf:

• GTX-758 für solide Tumoren
• GTX-827 für solide Tumoren

Forschungskooperationsvereinbarungen

Partner	Forschungsschwerpunkt	Potenzieller Wert
MD Anderson Krebszentrum	Forschung zur Krebsimmuntherapie	Nicht bekannt gegeben

Mögliche Meilensteinzahlungen aus Partnerschaften

Bis zum Jahr 2024 wurden vom Unternehmen keine spezifischen Meilensteinzahlungsstrukturen öffentlich bekannt gegeben.

Gesamtumsatz für 2023: 3,7 Millionen US-Dollar

Alaunos Therapeutics, Inc. (TCRT) - Canvas Business Model: Value Propositions

You're looking at the core reasons why an investor or partner would engage with Alaunos Therapeutics, Inc. as of late 2025. It's about the shift in focus and the underlying financial posture supporting that pivot.

Non-hormonal small molecule for obesity that aims to preserve lean muscle mass

• The obesity market represents a large, high-growth area, with US direct medical costs attributed to obesity estimated at over $260 billion.
• The competitive landscape in 2025 includes small molecule oral obesity therapies.

A non-viral genetic engineering platform for potential future cell therapies

• Alaunos Therapeutics, Inc. is a clinical-stage company focused on developing adoptive TCR engineered T-cell therapies, or TCR-T.
• The company's pipeline includes Library TCR-T cell and mblL-15 TCR-T cell Therapy.
• The historical approach involved developing non-viral adoptive cellular therapies based on T-cell receptor, or TCR, therapies.

A clean capital structure with zero long-term debt

PMGC Capital commended Alaunos Therapeutics for maintaining a clean capital structure and exercising prudent financial stewardship during challenging market conditions. As of the latest reported data, the Debt / Equity ratio is listed as "-".

Financial Metric (As of Late 2025 Data)	Amount	Reporting Period Reference
Cash and Equivalents	$1.93 million	September 30, 2025
Total Assets	$3.72 million	September 30, 2025
Net Loss from Continuing Operations	Deficit of $1.05 million	Period ending June 30, 2025
Net Change in Cash	-$941 thousand	Q3 2025
Revenue (TTM)	$6K	Latest available data

Potential for rapid development via strategic partners or acquisition

The R&D environment in 2025 is characterized by pipeline prioritization and accelerating Mergers and Acquisitions (M&A) activity. Alaunos Therapeutics announced a $2.0 Million Registered Direct Offering in June 2025. Furthermore, the company was urged to accept a financing term sheet facilitated through a leading Wall Street bank.

Targeting large, high-growth markets (obesity) after exiting high-cost oncology trials

Alaunos Therapeutics reported a strategic pivot toward a new obesity treatment focus in its Q3 2025 earnings. This shift moves away from the company's historical oncology focus, which involved expensive cell therapy trials. The obesity market is seeing increased R&D energy due to the success of GLP-1 medications.

• Market capitalization as of December 01, 2025, was $6.66M.
• The company generated an aggregate of $714.1 million from equity issuances through September 30, 2022, to finance operations.

Alaunos Therapeutics, Inc. (TCRT) - Canvas Business Model: Customer Relationships

You're hiring before product-market fit, so managing the expectations of your financial backers and the regulators who approve your path forward is everything. Here's the quick math on how Alaunos Therapeutics, Inc. manages its key relationships as of late 2025.

High-touch engagement with institutional and activist investors (e.g., PMGC Capital)

Engagement with activist shareholders requires a direct, data-driven approach, especially when strategic alternatives are on the table. PMGC Capital LLC, a subsidiary of PMGC Holdings Inc., publicly disclosed acquiring a 5.09% stake in Alaunos Therapeutics as of May 5, 2025. This position represented 83,500 shares of the common stock outstanding at that time. This relationship became high-touch when PMGC Capital publicly urged the Alaunos board on June 18, 2025, to accept a strategic financing term sheet they had facilitated through a leading Wall Street Bank. This advocacy highlights a direct line of communication aimed at immediate shareholder value creation, contrasting with standard passive investment relationships.

The nature of these relationships is further defined by the company's need for capital and the investor's stated belief that Alaunos is undervalued.

Investor Group Type	Key Event/Action	Date Reference	Quantifiable Metric
Activist Investor (PMGC Capital)	Acquisition of Stake	May 5, 2025	5.09% ownership stake
Activist Investor (PMGC Capital)	Public Advocacy for Financing	June 18, 2025	Urged acceptance of a term sheet
Institutional Investors (General)	Registered Direct Offering	June 23, 2025	Raised $2.0 Million

Strategic discussions with potential acquirers or licensing partners

The exploration of strategic alternatives is a primary focus, meaning relationships with potential partners are critical customer touchpoints. Alaunos Therapeutics is actively pursuing options including mergers, acquisitions, asset sales, and strategic partnerships. Cantor Fitzgerald & Co. is engaged as a strategic advisor to facilitate these discussions. The company's shift in focus away from the high-cost oncology TCR-T program supports the narrative that they are streamlining assets for a potential transaction.

• The oncology TCR-T program was wound down due to high costs and challenging financing.
• The company is now focused on a preclinical small molecule oral obesity program.
• Initial data for the obesity program is anticipated by Q4 2025.

Regulatory body communication (FDA) for preclinical and clinical pathways

Communication with the U.S. Food and Drug Administration (FDA) is essential for advancing any therapeutic candidate. While the previous oncology program saw an IND amendment filed in the fourth quarter of 2022 to add two new TCRs, the current relationship management centers on the new obesity program. The company is advancing this preclinical program, with initial data expected by Q4 2025, which will dictate the timing and substance of future interactions with the FDA regarding an Investigational New Drug (IND) application, though no specific 2025 IND filing date is public.

Maintaining relationships with key scientific collaborators

Scientific relationships provide validation and shared expertise, especially during a strategic pivot. Alaunos Therapeutics maintains a clinical and strategic collaboration with the National Cancer Institute. This relationship was established during the development of the TCR-T cell therapy platform. The company's proprietary technology includes the hunTR® TCR discovery platform and the Sleeping Beauty gene transfer platform.

Standard public company investor relations via SEC filings

Standard IR involves transparent, timely reporting of material events. Alaunos Therapeutics filed a $50M mixed securities shelf on August 21, 2025, to ensure flexibility for future capital raises. On June 23, 2025, the company entered an agreement for the purchase and sale of 610,399 shares of common stock at a price of $3.36 per share. The Q3 2025 report, ending September 30, 2025, showed a net loss of $1.15 million for the quarter.

The latest reported financial health dictates the urgency of these IR activities:

• Cash and cash equivalents as of September 30, 2025: $1.9 million.
• Working capital as of September 30, 2025: $1.8 million.
• Monthly cash burn rate: $0.28 million.
• Cash runway projected into Q1 2026.
• Accumulated deficit as of September 30, 2025: $923.7 million.

Recent SEC filings in July 2025 include multiple Form 4 filings (Statement of changes in beneficial ownership) on July 7, 2025, and Form 8-Ks on July 10 and July 17, 2025. Honestly, the cash runway projection into Q1 2026 means the next capital raise is defintely the most critical topic for IR.

Alaunos Therapeutics, Inc. (TCRT) - Canvas Business Model: Channels

You're looking at how Alaunos Therapeutics, Inc. gets its information and capital out to the world-the channels that connect its science and stock to stakeholders. For a clinical-stage biotech, these channels are critical for funding the pipeline and maintaining market confidence.

Direct communication with the Board of Directors and executive management is structured to handle specific inquiries. Stockholders wanting to address matters about financial statements, accounting, or internal controls must submit them in writing to the chairperson of the audit committee, in care of the Secretary, at the principal executive offices: 2617 Bissonnet, Suite 233, Houston TX 77005. The Board, as of April 30, 2025, consisted of four directors, including Holger Weis, who became CEO in July 2025. The Chair of the July 3, 2025, Annual Meeting of Stockholders was the President, Holger Weis.

The primary channel for mandatory strategic and financial updates is through SEC filings (10-Q, 8-K). Alaunos Therapeutics, Inc. filed its Form 10-Q on November 14, 2025, providing a view of its financial position leading into Q4 2025. Other material events were communicated via 8-K filings on May 23, 2025, June 10, 2025, July 22, 2025, and August 20, 2025. The 10-K for the year ended December 31, 2024, was filed on March 31, 2025.

Access to capital and strategic guidance flows through investment banks and financial advisors, often represented by board members or through specific transactions. The company executed a financing channel via a $2.0 Million Registered Direct Offering announced on June 23, 2025. Board members bring relevant financial expertise: Jaime Vieser has experience from Deutsche Bank AG, and Robert Postma is the principal of WaterMill Asset Management, a long-term shareholder. Holger Weis, the CEO, is also the principal of Weis Advisors, Inc.

Scientific publications and conferences for R&D visibility are key to validating the science behind the TCR-T candidates. Visibility is maintained through participation in investor conferences and scientific forums, with management presenting on the ongoing Phase 1/2 trial across six solid cancers. The company also maintains an ongoing collaboration with the National Cancer Institute (NCI). The company held its 2025 Annual Meeting of Stockholders on July 3, 2025.

The Nasdaq Capital Market listing (TCRT) serves as the direct channel for public equity access, which is vital given the Q3 2025 net loss of $1.15 million. The market's perception of this channel is reflected in the stock data as of late 2025:

Metric	Value as of Late 2025	Date/Context
Closing Stock Price (TCRT)	$3.34	November 28, 2025
Market Capitalization	$7.50M	December 6, 2025
Outstanding Shares	2,231,829	As of December 6, 2025
52-Week High Price	$6.20	As of late 2025
52-Week Low Price	$1.31	As of late 2025
Cash and Equivalents	$1.93 million	September 30, 2025
Net Loss (Q3 2025)	$1.15 million	Quarter ending September 30, 2025

The operational cash burn is evident in the Q3 2025 figures, which dictates the urgency for effective financing channels.

• Net Change in Cash (Q3 2025): -$941 thousand
• Total Assets: $3.72 million (as of September 30, 2025)
• Total Operating Expenses (Q3 2025): $1.18 million
• Registered Direct Offering Amount: $2.0 Million (June 2025)

The company uses its website's Investor section for webcasts of presentations.

Alaunos Therapeutics, Inc. (TCRT) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Alaunos Therapeutics, Inc. (TCRT) as of late 2025, which is a company in a significant pivot. The focus has clearly shifted from its prior oncology cell therapy work to developing a preclinical small molecule oral obesity program, ALN1001. This shift dictates who the company is actively courting right now.

The primary customer segments are defined by the immediate need for capital and strategic partnership for the obesity asset, and the potential buyers for the legacy oncology intellectual property.

Pharmaceutical companies seeking novel, preclinical obesity assets

This is the most critical near-term segment for Alaunos Therapeutics, Inc. The company is developing ALN1001, a small molecule oral drug candidate for obesity and metabolic disorders, aiming for a differentiated profile that preserves lean muscle mass, unlike many injectable GLP-1 receptor agonists. Pharma companies are actively seeking assets in this space; in Q1 2025 alone, there were 9 partnering deals announced in obesity, continuing the doubled deal volume seen in 2024 (which saw 36 deals). Pharma partners often prefer heavily backloaded deals, relying on innovators like Alaunos Therapeutics to carry the initial preclinical development risk. The company is actively pursuing this path, having engaged Cantor Fitzgerald & Co. as a strategic advisor to explore transactions, which could include strategic partnerships for the obesity program.

Institutional investors focused on deep-value biotech or M&A targets

This segment provides the necessary capital to advance the preclinical obesity program. As of November 2025, Institutional Investors held a 10.85% stake in the company. This group is interested because Alaunos Therapeutics is actively exploring strategic alternatives, including acquisition or sale of assets. The company's financial reality-reporting a net loss of $2.1 million for the six months ended June 30, 2025, and an accumulated deficit of approximately $922.6 million as of that same date-positions it as a deep-value play, where the value is tied to the potential success of the preclinical asset or a strategic buyout. The June 2025 registered direct offering, which brought in net proceeds of approximately $1.89 million, was explicitly earmarked to fund the obesity program.

Here's a quick look at the financial context relevant to these capital-seeking segments:

Financial Metric	Value/Date	Context
Net Loss (6M Ended June 30, 2025)	$2.1 million	Reflects ongoing operational burn funding preclinical work.
Accumulated Deficit (As of June 30, 2025)	$922.6 million	Historical losses since inception in 2003.
June 2025 Offering Net Proceeds	Approx. $1.89 million	Directly allocated to the obesity program.
Institutional Ownership (Nov 2025)	10.85%	Current base of institutional support.

Patients with obesity (future end-users, post-commercialization)

While not an immediate transactional customer, this is the ultimate target market for the company's primary focus, ALN1001. The value proposition targets a specific unmet need within this population. The goal is to serve patients who need an oral option that avoids the hormonal manipulation common in other treatments. The company is currently conducting preclinical in vitro testing, with plans to initiate IND-enabling activities in 2025, meaning this segment is still several years out from direct engagement.

Academic and clinical research institutions for platform licensing

This segment represents a potential revenue stream from the company's remaining intellectual property, specifically the hunTR platform and the TCR library targeting mutations like KRAS, TP53, and EGFR. Alaunos Therapeutics is exploring out-licensing this cancer-related IP to generate non-dilutive capital. Historically, the company collaborated with The University of Texas MD Anderson Cancer Center and the National Cancer Institute (NCI) on its TCR-T platform. Any new academic or clinical institution interested in licensing the hunTR technology for novel cell therapies would fall here.

Activist shareholders seeking to maximize value through strategic change

This segment is less about direct product sales and more about corporate governance and transaction realization. Given that Alaunos Therapeutics is explicitly exploring strategic alternatives, including acquisition or sale of assets, the company is inherently exposed to interest from activist shareholders who push management to realize shareholder value quickly. While one search result posed the question of activist interest as of November 2025, the company's exploration of a sale or merger is the primary driver that attracts this type of shareholder. The company's stock performance, with a last reported price of $4.29 on June 20, 2025, and analyst price targets suggesting a potential fall to an average of $1.0274 in the next 30 days from a later date, creates the pressure that activists often exploit.

Key ownership notes relevant to governance:

• Insiders increased holdings from 0.36% to 0.37% in November 2025.
• PMGC Capital LLC reported a 5.09% stake in May 2025.
• The company had 1,601,252 shares of common stock outstanding as of March 31, 2025.

Finance: draft 13-week cash view by Friday.

Alaunos Therapeutics, Inc. (TCRT) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Alaunos Therapeutics, Inc. (TCRT) business model as of late 2025. For a clinical-stage biotech company pivoting its focus, the cost structure is almost entirely driven by its pipeline activities and keeping the lights on during a strategic transition. Honestly, the numbers tell a clear story about where the cash is going right now.

The primary cost driver is definitely Research and Development (R&D), especially now that the company has heavily focused its efforts on the small molecule oral obesity program, which is in the preclinical stage. This represents the core investment to advance a non-hormonal therapeutic option. The most recent reported figures show this focus in action.

Expense Category	Q3 2025 Amount	Context
Research and Development (R&D) Expenses	$469 thousand	Primarily tied to the preclinical obesity program.
General and Administrative (G&A) Expenses	$718 thousand	Represents corporate overhead and operational support.
Total Operating Expenses (Q3 2025)	$1.18 million	Sum of R&D and G&A, reflecting the quarter's burn.

General and Administrative (G&A) expenses cover the necessary corporate overhead to keep Alaunos Therapeutics, Inc. running. For the third quarter of 2025, these costs were reported at $718 thousand. This figure is notable because it appears to be a reduction from prior periods, suggesting success in streamlining non-programmatic spending as part of the ongoing strategic review.

A significant, though perhaps less granularly itemized in the latest release, component of the cost structure involves expenses related to exploring and executing strategic alternatives. This process, which has involved strategic advisors, inherently carries legal, banking, and consulting fees. These costs are critical for the company's future but are often lumped into R&D or G&A, or sometimes appear as restructuring charges, depending on the timing and nature of the service.

Personnel costs reflect a deliberate strategy to maintain a reduced, specialized workforce. Following earlier corporate restructuring and headcount reductions, the current cost base is designed to support the focused obesity program while minimizing expenses elsewhere. This lean structure is essential for extending the cash runway during this pivotal phase.

Here's a breakdown of the cost components influencing the current structure:

• R&D expenses surged due to increased compensation costs for the specialized team.
• G&A expenses were reduced compared to the prior year's $1 million for Q3 2024.
• Consulting fees are elevated, supporting the preclinical obesity program development.
• Costs associated with strategic alternatives exploration are ongoing.
• Personnel costs are managed for a reduced, specialized workforce.

Finance: draft 13-week cash view by Friday.

Alaunos Therapeutics, Inc. (TCRT) - Canvas Business Model: Revenue Streams

You're looking at the revenue picture for Alaunos Therapeutics, Inc. (TCRT) as of late 2025, and honestly, it's what you'd expect for a clinical-stage company deep in development. The current revenue generation is minimal, and what little trickles in is primarily attributed to royalty revenues, which are non-operational income streams based on prior agreements.

To give you the hard numbers for the most recent reported period, the Q3 2025 revenue was just $7 thousand. That's the reality right now. Future revenue generation, the kind that funds the next phase of clinical trials, is entirely dependent on securing a licensing or partnership upfront payment for one of their platforms or assets. This is the big lever for cash infusion outside of the capital markets.

Here are some key financial data points from the Q3 2025 report ending September 30, 2025, to put that revenue in context:

Income Statement Metric (Q3 2025)	Amount
Revenue	$7 thousand
Net Income	$-1.15 million
Total Operating Expenses	$1.18 million
Cash Used in Operating Activities	$-844 thousand

Also, you need to keep an eye on potential milestone payments that could drop in from any future development agreements. These are contingent payments tied to hitting specific clinical or regulatory goals, so they aren't guaranteed revenue, but they are a crucial part of the long-term financial model if a partnership materializes.

To bridge the gap until those potential deals close, Alaunos Therapeutics, Inc. has taken steps to secure capital through the markets. Specifically, they filed for a mixed shelf offering of up to $50 million in securities back in August 2025. This provides the financial flexibility to continue operations and fund their TCR-T cell therapy development, including their Library TCR-T Cell Theraphy trials for cancers like non-small cell lung and colorectal cancer.

The current revenue sources look like this:

• Minimal revenue, mainly from royalty revenues.
• Future revenue hinges on licensing or partnership upfront payments.
• Contingent revenue from potential milestone payments.
• Proceeds from equity financing, such as the $50 million mixed shelf filing.

Finance: draft 13-week cash view by Friday.