In a previous paper we proposed that there may be a population of runaway p
lanets and brown dwarfs that formed via ejection from multiple-star systems
. We further suggested TMR-1C as a candidate runaway protoplanet. Hubble Sp
ace Telescope NICMOS images of the Class I protostar TMR-1 (IRAS 04361 + 25
47) reveal TMR-1C as a faint near-infrared companion with 10." 0 = 1400 AU
projected separation. The central protostar is itself resolved as a close b
inary with 0." 31 = 42 AU separation, surrounded by circumstellar reflectio
n nebulosity. A long, narrow filament seems to connect the protobinary to t
he faint companion TMR-1C, suggesting a physical association, which can pla
usibly be explained if TMR-1C was ejected by the protobinary. This paper pr
esents near-infrared grism spectroscopy to constrain the effective temperat
ure of TMR-1C, obtained with the Near-Infrared Camera (NIRC) at Keck Observ
atory. To interpret the data, we construct a grid of extincted M dwarf spec
tra to compare with the low-resolution (R similar to 120) NIRC spectrum. Th
e assumed extinction corresponds to standard interstellar dust. With the ad
ditional assumption that no near-infrared dust excess contributes to the sp
ectrum, then M4.5 is the latest spectral type TMR-1C can have within the un
certainties. Adopting 2 sigma error bars, this translates to T-eff > 2700 K
effective temperature and A(K) = 2.5 +/- 0.75 extinction at K band (A(V) =
22 +/- 6.6 for standard dust). We compare the luminosity and effective tem
perature of TMR-1C with evolutionary tracks of young giant planets and brow
n dwarfs in a theoretical H-R diagram. Given a relatively low inferred lumi
nosity of similar to 10(-3) L., then TMR-1C is hotter than predicted by ava
ilable theoretical models. However, the models are very uncertain at such y
oung ages, less than 300,000 yr, so that it is unclear whether the theoreti
cal tracks by themselves provide a suitably strong test. Given the quality
of the observed spectrum, only a partial answer is possible. The new data d
o not lend weight to the protoplanet interpretation, and the results remain
consistent with the explanation that TMR-1C may be a background star. We d
iscuss additional observational tests that may be useful.