Here is why TCR2 Therapeutics Inc. (TCRR) stock performed well on Friday?

TCR² Therapeutics Inc. (TCRR) shares gained 5.09% in after-hours on Friday, August 06, 2021, and closed the weekly trading at $15.49 per share. In the regular trading session on Friday, TCRR’s stock jumped 7.43%. TCRR shares have fallen 12.52% over the last 12 months, and they have moved up 18.49% in the past week. Over the past three months, the stock has lost 28.10%, while over the past six months, it has shed 48.50%. The company has a current market of $523.56 million and its outstanding shares stood at 38.18 million.

Let’s have a look at its recent news.

TCRR recent financial results announcement

August 05, 2021, TCR² Therapeutics Inc. (TCRR) announced financial results for the second quarter ended June 30, 2021, and provided a corporate update.

Q2 2021 financial highlights

• TCRR suffered a net loss of $24.3 million for the second quarter of 2021 compared to $16.2 million for the second quarter of 2020.
• Net cash used in operations was $15.0 million for the second quarter of 2021 compared to $16.0 million for the second quarter of 2020.
• In Q2 2021, Research and development expenses were $18.6 million compared to $12.9 million for the second quarter of 2020.
• General and administrative expenses were $5.7 million in Q2 2021 compared to $3.8 million in Q2 2020.
• As of June 30, 2021, TCR² had 317.3 million in cash, cash equivalents, and investments compared to $228.0 million as of December 31, 2020.

TCRR made new appointments

On July 20, 2021, TCR² Therapeutics Inc. (TCRR), appointed Peter Olagunju as Chief Technical Officer where he will oversee process development, manufacturing, quality control, and technical operations for the Company’s TRuC-T cell programs and emerging pipeline.

TCRR participation in the investor conferences

• TCR²Therapeutics recently participated in a fireside chat at the Goldman Sachs 42nd Annual Global Healthcare Conference which was held on June 9, 2021.
• The company was also present at Jefferies Virtual Healthcare Conference which was held on June 2, 2021. The Chief Financial Officer, Ian Somaiya, presented the company.

TCRR Q1 2021 financial results announcement

On May 13, 2021, TCR² Therapeutics Inc (TCRR), announced financial results for the first quarter ended March 31, 2021.

Q1 2021 financial highlights

• In Q1 2021, the company used $19.9 million net cash in operating activities compared to $16.4 million for the first quarter of 2020.
• Research and development expenses were $15.9 million in Q1 2021 compared to $12.0 million for the first quarter of 2020.
• General and administrative expenses were $5.7 million for the first quarter of 2021 compared to $4.3 million for the first quarter of 2020.
• Net loss was $21.5 million in Q1 2021 compared to $15.5 million for the first quarter of 2020.
• As of March 31, 2021, the company had $333.3 million in cash, cash equivalents, and investments.

Conclusion

The only recent development is the announcement of its financial results which could be the reason behind its good performance on Friday. we hope that it will commence the new week trading with the same positivity.