What are the investment strengths of Alaunos Therapeutics Inc (TCRT)?

Zero debt and 2.8M tangible book provides clean balance sheet for potential acquirer or merger at 2x P/B Micro-cap (5.7M market cap) with biotech optionality - binary outcomes possible from any pipeline progress

What are the investment risks for Alaunos Therapeutics Inc (TCRT)?

Sub-9 month cash runway with -3M FCF TTM and no recent financing signals imminent dilution or failure Revenue of 6K TTM indicates no commercial product - pure cash burn with ROE of -146%

Alaunos Therapeutics Inc

TCRT

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Alaunos Therapeutics Inc AI Insights

Informational only. Not investment advice.

As of 2026-02-06

Snapshot

Cash of 1.9M vs quarterly burn of ~2.9M TTM implies <9 months runway without financing[Cash and Equivalents]
P/S ratio of 957x vs industry median 4x - extreme valuation on 6K TTM revenue[P/S Ratio]
Zero debt with 2.8M equity but -4M net loss TTM eroding capital base rapidly[Debt to Equity]

Watch Triggers

Cash and Equivalents: Falls below 1M or financing announced — Sub-1M cash triggers going concern; dilutive raise likely 50%+ at this market cap
Issuance of Capital Stock: Any non-zero value — Capital raise terms will determine survival and shareholder dilution magnitude
Research and Development TTM: Material increase or decrease from 916K — R&D changes signal pipeline commitment or wind-down of operations

Bull Case

Zero debt and 2.8M tangible book provides clean balance sheet for potential acquirer or merger at 2x P/B

Debt to EquityTangible Book ValueP/B Ratio

Micro-cap (5.7M market cap) with biotech optionality - binary outcomes possible from any pipeline progress

Market Cap TTMResearch and Development TTM

Bear Case

Sub-9 month cash runway with -3M FCF TTM and no recent financing signals imminent dilution or failure

Cash and EquivalentsFree Cash Flow TTMIssuance of Capital Stock

Revenue of 6K TTM indicates no commercial product - pure cash burn with ROE of -146%

Total Revenue TTMROE TTMNet Income TTM

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

20%

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Forward Thesis

Without capital raise in next 6-9 months, operations face existential risk

3-12mhigh

Cash 1.9M vs -2.9M annual operating cash burn
No financing activity in current period
R&D spend of 916K TTM suggests minimal pipeline investment

End cash 1.9M down from 2.9M beginningFCF -3M TTM with no debt capacityZero capital stock issuance recent period

Valuation Context

Caveats

Public Strategies Rankings

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TCRT Fundamentals

Manufacturing → Chemical Manufacturing

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$6.81M		—
Enterprise Value	$5.43M		—
P/E Ratio	0.00		—
Total Revenue - TTM	$5,000	-50.0%	—
Earnings Per Share (diluted) - TTM	$-2.20		—
Operating Margin - TTM	-84,500%	-36380.0%	—
Net Margin - TTM	-83,520%	-36730.0%	—
Free Cash Flow - TTM	$-2.97M		—
Return on Common Equity - TTM	-198%	-86.3%	—
Beta 5Y (Monthly)	unknown		—

TCRT Dividend History

No dividends

TCRT Stock Splits

3 stock splits

07/18/2410:1 split

02/01/2415:1 split

11/09/0510:1 split

TCRT SEC Filings

Filing Date	Report Date	Report Type	Filing Link
03/31/26	12/31/25	10-K	0001193125-26-134720
11/14/25	09/30/25	10-Q	0001193125-25-282988
08/14/25	06/30/25	10-Q	0000950170-25-108887
05/15/25	03/31/25	10-Q	0000950170-25-072709
03/31/25	12/31/24	Unknown	0000950170-25-047758
11/14/24	09/30/24	10-Q	0000950170-24-126793
08/14/24	06/30/24	10-Q	0000950170-24-097142
05/15/24	03/31/24	10-Q	0000950170-24-060075
04/01/24	12/31/23	10-K	0000950170-24-038868
11/14/23	09/30/23	10-Q	0000950170-23-063354
08/14/23	06/30/23	10-Q	0000950170-23-042486
05/10/23	03/31/23	10-Q	0000950170-23-020088
03/07/23	12/31/22	10-K	0000950170-23-006377
11/14/22	09/30/22	10-Q	0000950170-22-024695
08/15/22	06/30/22	10-Q	0000950170-22-017225
05/16/22	03/31/22	10-Q	0000950170-22-009942
03/30/22	12/31/21	10-K	0000950170-22-004972
11/08/21	09/30/21	10-Q	0000950170-21-003463
08/13/21	06/30/21	10-Q	0000950170-21-001446
05/06/21	03/31/21	10-Q	0001193125-21-153365
03/01/21	12/31/20	10-K	0001193125-21-063387
11/05/20	09/30/20	10-Q	0001193125-20-286807
08/06/20	06/30/20	10-Q	0001193125-20-211865
05/07/20	03/31/20	10-Q	0001193125-20-136200
03/02/20	12/31/19	10-K	0001193125-20-058863
11/07/19	09/30/19	10-Q	0001193125-19-287259
08/08/19	06/30/19	10-Q	0001193125-19-216056
05/08/19	03/31/19	10-Q	0001193125-19-141382
03/05/19	12/31/18	10-K	0001193125-19-063978
11/09/18	09/30/18	10-Q	0001193125-18-323155
08/08/18	06/30/18	10-Q	0001193125-18-242705
05/10/18	03/31/18	10-Q	0001193125-18-159174
03/01/18	12/31/17	10-K	0001193125-18-067077
11/06/17	09/30/17	10-Q	0001193125-17-334249
07/31/17	06/30/17	10-Q	0001193125-17-242331
05/01/17	03/31/17	10-Q	0001193125-17-151749
02/16/17	12/31/16	10-K	0001193125-17-046668
11/09/16	09/30/16	10-Q	0001193125-16-764305
08/09/16	06/30/16	10-Q	0001193125-16-676724
05/10/16	03/31/16	10-Q	0001193125-16-585559
02/24/16	12/31/15	10-K	0001193125-16-475875
11/02/15	09/30/15	10-Q	0001193125-15-362281
08/10/15	06/30/15	10-Q	0001193125-15-284805
05/07/15	03/31/15	10-Q	0001193125-15-177165
02/26/15	12/31/14	10-K	0001193125-15-065956
10/30/14	09/30/14	10-Q	0001193125-14-389572
08/07/14	06/30/14	10-Q	0001193125-14-300632
05/08/14	03/31/14	10-Q	0001193125-14-189905
03/03/14	12/31/13	10-K	0001193125-14-080282
10/22/13	09/30/13	10-Q	0001193125-13-406591
08/08/13	06/30/13	10-Q	0001193125-13-326769
05/07/13	03/31/13	10-Q	0001193125-13-204366
03/18/13	12/31/12	10-K	0001193125-13-112464
11/08/12	09/30/12	10-Q	0001144204-12-060430
08/02/12	06/30/12	10-Q	0001144204-12-042601
05/03/12	03/31/12	10-Q	0001144204-12-025871
02/29/12	12/31/11	10-K	0001144204-12-012003
11/03/11	09/30/11	10-Q	0001144204-11-061165
08/01/11	06/30/11	10-Q	0001144204-11-042988
05/05/11	03/31/11	10-Q	0001144204-11-026248
03/01/11	12/31/10	10-K	0001144204-11-011688
06/28/13	12/31/10	10-K/A	0001193125-13-277164
11/04/10	09/30/10	10-Q	0001144204-10-057381
07/30/10	06/30/10	10-Q	0001144204-10-040230
04/30/10	03/31/10	10-Q	0001144204-10-023135
03/17/10	12/31/09	10-K	0001144204-10-014169
11/10/09	09/30/09	10-Q	0001144204-09-057882
08/14/09	06/30/09	10-Q	0001144204-09-042953
05/15/09	03/30/09	10-Q	0001144204-09-026711
03/23/09	12/31/08	10-K	0001144204-09-015614
10/30/08	09/30/08	10-Q	0001144204-08-060231
07/30/08	06/30/08	10-Q	0001144204-08-042849
05/12/08	03/30/08	Unknown	--
12/31/07	12/31/07	10KSB	0001144204-08-011140
09/30/07	09/30/07	10QSB	0001144204-07-057738
06/30/07	06/30/07	10QSB	0001144204-07-042183
03/31/07	03/30/07	Unknown	--
12/31/06	12/31/06	10KSB	0001144204-07-006838
09/30/06	09/30/06	10QSB	0001144204-06-046539
06/30/06	06/30/06	10QSB	0001144204-06-032855
03/31/06	03/30/06	Unknown	--
12/31/05	12/31/05	10KSB	0001144204-06-010771
09/30/05	09/30/05	10QSB	0001144204-05-034852
06/30/05	06/30/05	10QSB	0001049107-05-000033
03/31/05	03/30/05	Unknown	--
12/31/04	12/31/04	10KSB	0001049107-05-000010
09/30/04	09/30/04	10QSB	0001049107-04-000064
06/30/04	06/30/04	NT 10-Q	0001049107-04-000041
03/31/04	03/30/04	Unknown	--
12/31/03	12/31/03	NT 10-K	0001049107-04-000010
10/30/03	09/30/03	10QSB	0001028269-03-000154
08/23/04	06/30/03	10QSB	0001049107-04-000049
08/14/03	06/30/03	10QSB	0001028269-03-000126
05/13/03	03/30/03	10QSB	0001079974-03-000274
05/10/04	03/30/03	10QSB	0001049107-04-000013
04/15/03	12/31/02	10KSB	0001079974-03-000215
11/13/02	09/30/02	10QSB	0001079974-02-000526
08/14/02	06/30/02	10QSB	0001079974-02-000387
05/07/02	03/30/02	10QSB	0001079974-02-000222
03/20/02	12/31/01	10KSB	0001079974-02-000163
11/06/01	09/30/01	10QSB	0001079974-01-500199
08/14/01	06/30/01	10QSB	0001079974-01-500136
05/07/02	03/30/01	10QSB	0001079974-02-000222
11/06/01	09/30/00	10QSB	0001079974-01-500199
08/14/01	06/30/00	10QSB	0001079974-01-500136