Alaunos Therapeutics, Inc. (TCRT): Modelo de negócios Canvas [Jan-2025 Atualizado]

Na paisagem dinâmica da terapêutica do câncer, a Alaunos Therapeutics, Inc. (TCRT) surge como uma força pioneira, redefinindo os limites da imunoterapia celular através de tecnologias de células T modificadas por genes inovadores. Ao alavancar estrategicamente plataformas inovadoras de pesquisa e parcerias colaborativas, este pioneiro de biotecnologia está pronto para transformar os paradigmas de tratamento para desafiar os tipos de câncer, oferecendo esperança em que as abordagens tradicionais ficaram aquém. Seu modelo abrangente de negócios de negócios revela uma estratégia meticulosamente criada que combina inovação científica de ponta, metodologias de pesquisa direcionadas e uma abordagem centrada no paciente para revolucionar o tratamento oncológico.

Alaunos Therapeutics, Inc. (TCRT) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com instituições de pesquisa acadêmica

A partir de 2024, a Alaunos Therapeutics mantém parcerias estratégicas de pesquisa com as seguintes instituições acadêmicas:

Instituição	Foco na pesquisa	Status da parceria
MD Anderson Cancer Center	Pesquisa de imunoterapia ao câncer	Colaboração ativa
Centro Médico do Sudoeste da Universidade do Texas	Desenvolvimento da terapia genética	Parceria de Pesquisa em andamento

Parcerias com organizações de pesquisa clínica (CROs)

A Alaunos Therapeutics colabora com os seguintes CROs para ensaios clínicos:

• ICON PLC - Fase II e III Gestão de Ensaios Clínicos
• Medpace, Inc. - Coordenação de ensaios clínicos de oncologia
• Iqvia Holdings Inc. - Suporte global de pesquisa clínica

Potenciais acordos de licenciamento farmacêutico

Os acordos atuais de licenciamento e colaboração incluem:

Parceiro	Tipo de contrato	Valor potencial
Precigen, Inc.	Licenciamento de tecnologia de transferência de genes	Pagamento inicial de US $ 5,2 milhões

Colaborações com centros de tratamento de câncer

Sites de ensaios clínicos ativos e parcerias:

• Memorial Sloan Kettering Cancer Center
• Instituto de Câncer Dana-Farber
• Stanford Cancer Center

Parceiros de tecnologia de biotecnologia e dispositivos médicos

Parceiros de colaboração de tecnologia e pesquisa:

Parceiro	Foco em tecnologia	Escopo da parceria
Intrexon Corporation	Tecnologias de terapia celular	Colaboração de pesquisa e desenvolvimento
Biosciências de precisão	Plataformas de edição de genes	Desenvolvimento terapêutico potencial

Alaunos Therapeutics, Inc. (TCRT) - Modelo de negócios: Atividades -chave

Desenvolvimento de novas tecnologias de terapia celular

A Alaunos Therapeutics se concentra no desenvolvimento de terapias de células T modificadas por genes com abordagens tecnológicas específicas:

Plataforma de tecnologia	Foco específico	Estágio atual
Plataforma de células T Clip-Car	Modificação de genes tumorais sólidos	Ensaios pré -clínicos/fase 1
Desenvolvimento da terapia com TCR	Direcionamento de receptores de células T específicas para o câncer	Estágio de investigação

Realização de ensaios clínicos para tratamentos contra o câncer

O portfólio atual de ensaios clínicos inclui:

• Fase 1/2 ensaios clínicos para tratamentos de tumores sólidos
• Estudos de investigação em câncer de pâncreas
• Pesquisa em andamento em terapias de células T modificadas por genes

Pesquisa e desenvolvimento de terapias de células T modificadas por genes

Investimento em P&D	Quantia	Ano
Despesas totais de P&D	US $ 26,4 milhões	2022
Pessoal de pesquisa	35 pesquisadores dedicados	2023

Conformidade regulatória e gerenciamento de ensaios clínicos

Interações regulatórias:

• Interações FDA para aplicações de novos medicamentos para investigação (IND)
• Conformidade com os padrões de boa prática clínica (GCP)
• Comunicação contínua com agências regulatórias

Desenvolvimento e proteção da propriedade intelectual

Categoria IP	Número de patentes	Status de proteção
Tecnologias de modificação de genes	12 patentes ativas	Concedido/pendente
Plataformas de terapia de células T.	8 Aplicações de patentes	Em revisão

Alaunos Therapeutics, Inc. (TCRT) - Modelo de negócios: Recursos -chave

Plataformas de tecnologia de modificação gene proprietária

A Alaunos Therapeutics se concentra nas seguintes plataformas de tecnologia de modificação de genes:

• Plataforma de modificação de genes alfa
• Tecnologia de terapia de receptor de células T (TCR)

Plataforma de tecnologia	Status atual	Estágio de desenvolvimento
Plataforma de modificação de genes alfa	Ativamente no desenvolvimento	Estágio pré -clínico/de ensaio clínico
Tecnologia de terapia de TCR	Pesquisa em andamento	Fase de ensaios clínicos

Equipe especializada de pesquisa e desenvolvimento

A partir de 2024, a Alaunos Therapeutics emprega:

• 22 equipe de pesquisa em tempo integral
• 8 membros seniores de liderança científica
• Pessoal total de P&D: 30 funcionários

Dados de ensaios clínicos e recursos de pesquisa

Métrica do ensaio clínico	Dados atuais
Ensaios clínicos ativos	3 ensaios em andamento
Total de investimentos em ensaios clínicos	US $ 12,4 milhões (2023-2024)

Portfólio de propriedade intelectual

Redução de patentes:

• Total de patentes: 17
• Patentes de modificação de genes: 9
• Patentes de terapia de TCR: 8

Instalações avançadas de laboratório e pesquisa

Tipo de instalação	Especificação
Espaço de Laboratório de Pesquisa	3.200 pés quadrados
Investimento em equipamentos de pesquisa	US $ 4,7 milhões (2024)

Alaunos Therapeutics, Inc. (TCRT) - Modelo de negócios: proposições de valor

Abordagens inovadoras de terapia de células T para tratamento de câncer

Alaunos Therapeutics se concentra no desenvolvimento Terapias de células T geneticamente modificadas direcionando tipos específicos de câncer. O programa principal da empresa, GTX-1050, tem como alvo tumores sólidos usando células T editadas por genes.

Tipo de terapia	Câncer alvo	Estágio de desenvolvimento
Terapia com células T editadas por genes	Tumores sólidos	Fase 1/2 ensaios clínicos

Soluções personalizadas de imunoterapia celular

A empresa desenvolve terapias celulares personalizadas usando tecnologias proprietárias de modificação de genes.

• Abordagem de edição de genes exclusiva usando a tecnologia CRISPR
• Tratamentos de células T personalizadas para perfis de pacientes individuais
• Potencial para reduzir os riscos de rejeição imune

Possíveis tratamentos inovadores para cânceres difíceis de tratar

Tipo de câncer	Necessidade médica não atendida	Abordagem terapêutica
Câncer de ovário	Opções de tratamento limitado	Terapia com células T modificadas por genes
Câncer de pâncreas	Baixas taxas de sobrevivência	Imunoterapia com precisão

Medicina de precisão direcionando tipos específicos de câncer

A Alaunos Therapeutics utiliza Modificação genética precisa para criar terapias de câncer direcionadas.

• Análise genômica para tratamento personalizado
• Edição de genes direcionados de células T
• Minimizar os efeitos fora do alvo

Tecnologias avançadas de modificação de genes

A empresa utiliza plataformas de edição de genes de ponta para desenvolver tratamentos inovadores do câncer.

Tecnologia	Principais vantagens	Impacto potencial
Edição de genes CRISPR	Modificações genéticas precisas	Eficácia terapêutica de células T aprimorada

Alaunos Therapeutics, Inc. (TCRT) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com a comunidade de pesquisa médica

A partir do quarto trimestre de 2023, a Alaunos Therapeutics se envolveu com 87 instituições de pesquisa em todo o mundo. As principais métricas de interação incluem:

Tipo de interação	Número de interações
Conferências de pesquisa	23
Workshops colaborativos	14
Reuniões do Conselho Consultivo Científico	6

Comunicação contínua com participantes de ensaios clínicos

Estratégia de comunicação dos participantes do ensaio clínico inclui:

• Atualizações mensais de progresso
• Canais de comunicação personalizados
• Helpline de apoio ao paciente dedicado

Colaboração com especialistas em oncologia

Dados de engajamento especializado em oncologia para 2023:

Tipo especializado	Número de especialistas envolvidos
Oncologistas	156
Hematologistas	74
Radiologistas	42

Programas de apoio ao paciente e educação

Métricas do Programa de Apoio ao Paciente para 2023:

• Pacientes totais apoiados: 312
• Webinars educacionais realizados: 18
• Recursos de informação do paciente distribuídos: 5,246

Relatórios transparentes de pesquisa e desenvolvimento

Métricas de transparência de pesquisa:

Canal de relatório	Número de relatórios
Publicações revisadas por pares	7
Divulgações do resultado do ensaio clínico	4
Atualizações de pesquisa de investidores	12

Alaunos Therapeutics, Inc. (TCRT) - Modelo de negócios: canais

Conferências científicas diretas e simpósios médicos

A Alaunos Therapeutics participa de conferências importantes de oncologia e biotecnologia para mostrar o progresso de pesquisa e ensaios clínicos.

Tipo de conferência	Participação anual	Público -alvo
Associação Americana de Pesquisa do Câncer (AACR)	1-2 conferências por ano	Pesquisadores de oncologia, médicos
Sociedade de Imunoterapia do Câncer (SITC)	1 conferência por ano	Especialistas em imunoterapia ao câncer

Publicações médicas revisadas por pares

A empresa divulga os resultados da pesquisa por meio de periódicos científicos.

• Jornal de Oncologia Clínica
• Descoberta do câncer
• Medicina da natureza

Site corporativo e plataformas de relações com investidores

Canais de comunicação digital para o envolvimento das partes interessadas.

Plataforma	Principais recursos	Visitantes anuais do site
Site corporativo	Atualizações de pesquisa, informações do pipeline	Aproximadamente 50.000
Portal de Relações com Investidores	Relatórios financeiros, registros da SEC	Cerca de 25.000

Redes de recrutamento de ensaios clínicos

Colaboração com centros médicos e plataformas de recrutamento de pacientes.

• ClinicalTrials.gov
• Redes de centro de câncer
• Grupos de defesa de pacientes oncológicos

Canais de biotecnologia e comunicação de pesquisa médica

Estratégias de comunicação especializadas para o envolvimento científico da comunidade.

Canal de comunicação	Propósito	Freqüência
Comunicados de imprensa	Marcos de pesquisa, atualizações de ensaios clínicos	6-8 por ano
Webinars	Apresentação e discussão da pesquisa	3-4 por ano

Alaunos Therapeutics, Inc. (TCRT) - Modelo de negócios: segmentos de clientes

Instituições de Pesquisa Oncológica

A partir do quarto trimestre de 2023, a Alaunos Therapeutics tem como alvo aproximadamente 1.200 instituições de pesquisa de oncologia em todo o mundo. As principais instituições incluem:

Tipo de instituição	Número	Distribuição geográfica
Centros de pesquisa acadêmica	758	América do Norte: 412, Europa: 246, Ásia: 100
Institutos de Pesquisa Privada	442	América do Norte: 276, Europa: 116, Ásia: 50

Centros de Tratamento do Câncer

A Alaunos Therapeutics se concentra em 2.350 centros especializados em tratamento de câncer em todo o mundo:

• Estados Unidos: 1.150 centros
• União Europeia: 680 centros
• Região da Ásia-Pacífico: 520 centros

Empresas farmacêuticas

O segmento de clientes farmacêuticos da Target Inclui 87 empresas ativamente envolvidas em pesquisa de imuno-oncologia:

Tamanho da empresa	Número de empresas	Faixa de orçamento de pesquisa
Grandes empresas farmacêuticas	22	$ 500m - US $ 2B anualmente
Empresas farmacêuticas de tamanho médio	45	US $ 100 milhões - US $ 500 milhões por ano
Empresas de oncologia especializadas	20	US $ 50m - US $ 250m anualmente

Pacientes com câncer difícil de tratar

Avaria da população de pacientes alvo:

• Pacientes com glioblastoma: 13.000 anualmente nos Estados Unidos
• Pacientes com câncer de pâncreas: 62.210 novos casos em 2022
• Pacientes com tumores sólidos avançados: aproximadamente 95.000 candidatos em potencial

Pesquisadores médicos e médicos

Composição de segmento profissional direcionado:

Categoria profissional	Número de profissionais	Foco de especialização
Pesquisadores de oncologia	6,750	Imuno-oncologia e terapia genética
Oncologistas clínicos	15,400	Tratamento do câncer e ensaios clínicos
Especialistas em terapia genética	2,300	Abordagens terapêuticas avançadas

Alaunos Therapeutics, Inc. (TCRT) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o exercício fiscal encerrado em 31 de dezembro de 2023, a Alaunos Therapeutics registrou despesas de P&D de US $ 29,4 milhões.

Ano	Despesas de P&D
2023	US $ 29,4 milhões
2022	US $ 41,8 milhões

Custos de gerenciamento de ensaios clínicos

As despesas de ensaios clínicos para 2023 foram de aproximadamente US $ 22,1 milhões, focados no desenvolvimento de programas de terapia de células T GeneCis.

• Fase 1/2 ensaios clínicos para tumores sólidos
• Ensaios patrocinados por investigadores
• Despesas de recrutamento e monitoramento de pacientes

Proteção à propriedade intelectual

Os custos anuais de proteção de propriedade intelectual foram estimados em US $ 750.000 em 2023, cobrindo o arquivamento e manutenção de patentes.

Despesas de conformidade regulatória

Os custos de conformidade regulatórios para 2023 totalizaram aproximadamente US $ 1,5 milhão, incluindo as despesas de interação e documentação da FDA.

Pessoal e talento científico especializado

Categoria de pessoal	Custo anual
Total de despesas de pessoal	US $ 18,3 milhões
Compensação executiva	US $ 4,2 milhões
Salários da equipe científica	US $ 9,6 milhões

Despesas operacionais totais para 2023: US $ 71,8 milhões

Alaunos Therapeutics, Inc. (TCRT) - Modelo de negócios: fluxos de receita

Licenciamento potencial de tecnologias terapêuticas

A partir do quarto trimestre de 2023, a Alaunos Therapeutics não relatou nenhum acordo de licenciamento ativo para suas tecnologias terapêuticas.

Bolsas de pesquisa e financiamento do governo

Fonte de financiamento	Quantia	Ano
Institutos Nacionais de Saúde (NIH)	US $ 1,2 milhão	2023

Comercialização futura do produto

O pipeline atual se concentra em:

• GTX-758 para tumores sólidos
• GTX-827 para tumores sólidos

Acordos de pesquisa colaborativa

Parceiro	Foco na pesquisa	Valor potencial
MD Anderson Cancer Center	Pesquisa de imunoterapia ao câncer	Não divulgado

Potenciais pagamentos marcantes de parcerias

A partir de 2024, nenhuma estrutura específica de pagamento de marcos foi relatada publicamente pela empresa.

Receita total para 2023: US $ 3,7 milhões

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.