Features Pricing Learn Reverse Splits Tracker Shelf & ATM Tracker Warrant Tracker PIPE Deal Tracker Weekly Report Intel FAQ API Sign In →
98 /100
CRITICAL RISK
Score updated Jul 28, 2026

TCRT — Alaunos Therapeutics, Inc. Dilution Risk Tracker

Track TCRT dilution risk with DilutionWatch's stock tracker. DilutionScore™ measures dilution risk across 5 factors — lower scores indicate higher risk of share dilution.

⚠️ Not financial advice. Do your own research before making any investment decisions.

🔔 Track TCRT — Get alerts when the score changes →

As of July 28, 2026, Alaunos Therapeutics, Inc. (TCRT) has a DilutionWatch DilutionScore of 98/100, rated CRITICAL dilution risk. Alaunos Therapeutics, Inc. has a market capitalization of $6.96M, 24.42M shares outstanding, 30 institutional holders tracked. Key dilution vectors include 18.94M outstanding warrants, approximately 0 months of cash runway.

Source: DilutionWatch (dilutionwatch.com) — data updated daily from SEC EDGAR filings. Not financial advice.

Score Breakdown

📋 Offering Ability
80
💰 Cash Runway
95
📊 Float Risk
100
⚠️ Warrant Exposure
90
🔄Convertible Debt—

Dilution Forecast

⛈️
Warning
High probability of dilution event
49%
📜 Warrant Exercise 60%
• Massive warrant overhang: 78% of shares outstanding
• Warrant risk score very high (90/100)
💰 Capital Raise 55%
• Critical: only 0.3 months cash remaining
🔄 Reverse Split 15%
• Only 0 months cash — financial pressure
🔔 Track TCRT — Get forecast alerts →

Market Data

Market Cap$6.96M
Shares Outstanding24.42M
Float1.91M
Cash$354.0K
DebtN/A
Short InterestN/A

Institutional Holdings

QoQ: ↑ 32.0% shares (2026Q1 vs prior)
30 institutional holders · 143.6K shares
#1 VANGUARD CAPITAL MANAGEMENT LLC 28.1K shares
#2 GEODE CAPITAL MANAGEMENT, LLC 22.6K shares
#3 BlackRock, Inc. 21.4K shares
+ 17 more holders Sign up free to view →

Short Interest

Short Interest13.3K
Days to Cover1.0
% of Float0.7%
FINRA data as of Jul 15, 2026

Recent SEC Activity

xbrl XBRL WARRANT 2026-03-31
xbrl XBRL CONVERTIBLE 2014-12-31
4 INSIDER TRANSACTION 2026-01-15
4 INSIDER TRANSACTION 2026-01-15
4 INSIDER TRANSACTION 2026-01-15
Full SEC filing analysis available with free account →

Recent News

No recent news

What This Means for TCRT Shareholders

Alaunos Therapeutics, Inc. (TCRT) carries a DilutionScore of 98/100, placing it in the Critical dilution risk tier — the highest category tracked by DilutionWatch. Companies at this level typically have active capital-raising programs, compressed cash runway, or a combination of dilution vectors that together represent meaningful downside risk to share count. As of July 28, 2026, this score reflects real-time data pulled directly from SEC EDGAR filings.

DilutionWatch tracks 18.9M outstanding warrants for TCRT. Warrants become dilutive when exercised — converting to common shares at the strike price. Warrants near or in-the-money deserve particular attention since exercise can add materially to the outstanding share count within a short window. Cash runway is a key watch item: TCRT has approximately 0 months of runway at current burn rate. Companies with less than 18 months of runway are statistically more likely to file new shelf registrations or ATM programs within the next two quarters. DilutionWatch monitors SEC 10-Q filings to update this estimate each quarter.

DilutionWatch tracks over 25 SEC filing types for TCRT in real-time, scanning EDGAR every 60 seconds. The DilutionWatch shows real-time score changes for TCRT alongside comparable critical-risk stocks. Not financial advice — this analysis is for informational purposes only.

Warrants Explained →

Understanding TCRT's Dilution Risk Factors

Primary Risk Drivers

The most severe dilution threats for TCRT stem from Offering Ability and Cash Runway. Offering Ability scores at a high level, indicating significant potential for new capital raises that could flood the market with shares. Combined with a Cash Runway score nearing maximum risk, this signals that the company is extremely close to needing additional funding, which often translates into dilutive financing activities. The Cash Runway factor is critical because only 0.3 months of cash remain, meaning any delay in securing funds could trigger immediate share issuance to meet operational needs.

Factors Currently Not a Concern

Convertible Note Risk remains low, suggesting that the company’s outstanding convertible debt poses minimal threat at present. However, if new convertible notes are issued or existing ones convert into equity, this factor would rapidly escalate. Float Risk is currently at maximum risk, yet it may not immediately affect shareholders unless a large number of shares become available for trading, which typically occurs after significant fundraising events or lock-up expirations.

SEC Filings to Watch

Investors should monitor S-3 registration statements, as these filings often precede large-scale equity offerings that could significantly increase share count. 424B5 documents signal the launch of new securities offerings and are key indicators of upcoming dilution. An 8-K Item 1.01 filing would indicate a material event such as a significant capital raise or debt conversion, directly impacting shareholder ownership. Additionally, 10-Q reports provide insight into cash reserves and financial stability trends that could trigger further dilutive actions.

How Dilution Happens

Dilution begins when the company issues new shares to raise capital. If Offering Ability is high, the company may issue new stock through a public offering or private placement, directly increasing the total number of shares outstanding. As Cash Runway deteriorates, such fundraising becomes more urgent, increasing the likelihood of dilutive securities like warrants or convertible notes converting into equity. Each conversion or issuance reduces the percentage ownership for existing shareholders, thereby diminishing their value.

What Would Make This Worse

A worsening scenario would occur if the company issues warrants or convertible notes that convert into shares at a predetermined low price, significantly increasing supply. Additionally, if the company files for another equity offering before resolving its cash constraints, it could compound dilution risk. An 8-K reporting a major capital raise or a 10-Q showing declining cash reserves would further signal deteriorating conditions and increased risk of shareholder value erosion.

Key Insight

Low scores indicate safer conditions, so the inverted scale means that values near zero are preferable for investors concerned with dilution.

How to Monitor TCRT for Dilution Risk

What This Risk Level Means

For a micro-cap operating company like Alaunos Therapeutics (TCRT), a high dilution risk score signals significant exposure to potential equity dilution. With its small market capitalization and limited financial resources, the company is highly vulnerable to actions that reduce shareholder ownership. In this context, even minor changes in capital structure can have outsized impacts on existing shareholders. The elevated risk profile suggests that TCRT is likely relying heavily on equity financing, which increases the probability of dilutive events such as new offerings or warrant exercises.

What Typically Happens Next

Companies with similar profiles often proceed through a sequence of capital-raising activities. These may include shelf registrations, ATM programs, or convertible note financings that can rapidly increase the outstanding share count. Warrant exercises are particularly common in this stage, especially when warrants are nearing expiration. Given the company’s cash runway and offering ability scores, it is likely that TCRT may seek additional capital soon through equity-based mechanisms. Monitoring for these actions is essential to anticipate potential dilution events.

Monitoring Playbook

To effectively track TCRT using DilutionWatch, set alerts for any changes in offering ability, warrant exposure, or cash runway scores. Check the company’s SEC filings weekly and monitor the Shelf & ATM Monitor for new registration announcements. When a score exceeds 90/100, it is critical to review recent filings for signs of upcoming equity issuance or convertible note activity.

Early Warning Signals

Key warning signals include a sudden increase in the number of warrants outstanding, a filing indicating a shelf registration or ATM program launch, and a marked decline in cash runway without a corresponding capital raise. Any material change in convertible note terms or an uptick in offering ability scores should also trigger immediate attention.

What a Positive Resolution Looks Like

A positive shift would occur if TCRT secures a substantial capital raise, reduces outstanding warrants through expiration or buybacks, or significantly improves its cash runway. A decrease in convertible note exposure or the successful completion of a debt paydown could also help lower the overall dilution risk. These actions would signal that the company is gaining financial stability and reducing its reliance on potentially dilutive equity financing.

Watch For

Any new SEC filings related to equity offerings, warrant expirations, or convertible note modifications — especially within 30 days of a score increase.

Full SEC filing analysis available with free account  →
Track TCRT Dilution Risk in Real-Time
Get instant alerts when SEC filings impact dilution risk. Free tier available.
Start Tracking TCRT — Free
Real-time SEC alerts DilutionScore™ tracking No credit card required

Related Stocks — CRITICAL Risk

Other CRITICAL dilution risk stocks tracked by DilutionWatch with similar profiles:

AITXD CETX CIIT COSM DCOY

Browse all 7,800+ tracked stocks →

📖 Dilution Education
→ Complete Dilution Guide for Retail Investors → Anti-Dilution Provisions Explained → Stock Dilution Red Flags to Watch → Understanding Shelf Registrations
More Research for TCRT
TCRT FDA Catalyst Timeline & Biotech Grade — BiotechSignsTCRT Signal Convergence & Dark Pool Activity — StonkWhisper

Part of the Guerilla Finance research network. Cross-reference multiple data sources for better due diligence.