In a turbulent market environment, TCRT stock has reached a 52-week low, trading at $1.92, with a market capitalization of just $3.14 million. The company's beta of -0.44 indicates its stock often moves contrary to broader market trends. This price level reflects a significant downturn for the company, which has seen its shares struggle amidst broader industry and economic pressures. InvestingPro data reveals an alarming year-to-date decline of 80.39%. Over the past year, TCRT's performance has mirrored the challenging journey of many biotech firms, with ZIOPHARM Oncology (NASDAQ:TCRT), a sector peer, experiencing a staggering 1-year change of -74.43%. Investors are closely monitoring TCRT's movements as it hits this low point, seeking signs of a potential rebound or further indicators of market headwinds that could continue to impact the stock's value. While the company maintains a healthy current ratio of 4.3, InvestingPro analysis suggests the stock may be undervalued at current levels. Subscribers can access 14 additional ProTips and comprehensive financial metrics to make more informed investment decisions.
In other recent news, Alaunos Therapeutics has terminated a significant licensing agreement with Precigen (NASDAQ:PGEN), Inc. The deal, which granted Alaunos the rights to develop Sleeping Beauty-transposed neoantigen T-cell receptors for solid tumor cancer treatment, was ended in line with Alaunos' strategic review and the upcoming expiration of the non-viral Sleeping Beauty gene transfer platform patent in 2026. Despite this, Alaunos continues to seek intellectual property protection for its TCRs targeting mutations in KRAS, TP53, and EGFR, and its hunTR TCR discovery platform.
The company is also considering strategic alternatives such as mergers, acquisitions, asset sales, partnerships, or capital raises. Alaunos is progressing with an internal small molecule oral obesity program and has contracted a manufacturing organization to produce active pharmaceutical ingredients for this program. Cost reductions have extended Alaunos' cash runway into the first quarter of 2025, with in vitro testing of its small molecule candidates expected to begin in the fourth quarter of 2024.
In other developments, Alaunos Therapeutics has implemented a 1-for-10 reverse stock split and made significant changes to its accounting structure, dismissing RSM US LLP as its independent registered public accounting firm and appointing Cherry Bekaert (EBR:BEKB) LLP in its place. These updates reflect recent developments within the company.
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