TransCode Therapeutics Inc - RNAZ STOCK NEWS

TransCode Therapeutics, Inc. (NASDAQ: RNAZ) announced a 1-for-40 reverse stock split to increase the per share trading price and satisfy the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The reverse split will reduce the number of shares of outstanding common stock from approximately 25,097,596 shares to approximately 627,448 shares.

TransCode Therapeutics, Inc. (NASDAQ: RNAZ) raised $18.5M in capital despite difficult financial markets and initiated its first clinical trial for its lead therapeutic candidate, TTX-MC138, designed to treat metastatic disease.

TransCode Therapeutics, Inc. (NASDAQ: RNAZ) successfully completed a preclinical study on its lead therapeutic candidate, TTX-MC138, in pancreatic adenocarcinoma, demonstrating its effectiveness against metastatic pancreatic cancer in animal models.

TransCode Therapeutics, Inc. (NASDAQ: RNAZ) will present data from a Phase 0 clinical trial with its lead candidate, TTX-MC138, at the San Antonio Breast Cancer Symposium. The trial involves injection of a microdose of Cu64-labeled TTX-MC138 into stage IV breast cancer patients, followed by PET-MRI to determine the pharmacokinetics of TTX-MC138 and its uptake in metastatic lesions. The company believes that these data show the potential for TTX-MC138 to accumulate in human metastases, support further clinical development, and enable clinical development of a wide array of TTX-based therapeutic candidates.

TransCode Therapeutics, Inc. (Nasdaq: RNAZ) has closed a registered direct offering, selling 5,000,000 shares of common stock at $0.242 per share, resulting in gross proceeds of $1.2 million. The company plans to use the net proceeds for clinical trials with its lead therapeutic candidate, TTX-MC138, and for general corporate purposes.

TransCode Therapeutics, Inc. (Nasdaq: RNAZ) has entered into a definitive securities purchase agreement for the purchase and sale of 5,000,000 shares of common stock at a purchase price of $0.242 per share of common stock in a registered direct offering priced at-the-market under Nasdaq rules. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

TransCode Therapeutics, Inc. (NASDAQ: RNAZ) reported financial results for Q3 2023, including a successful public offering and progress in clinical studies with their lead therapeutic candidate, TTX-MC138, for treating metastatic disease. They announced positive preclinical data in glioblastoma and breast cancer cells, highlighting the potential to improve outcomes in recurrent and resistant breast cancer. Recent business highlights include favorable pharmacokinetics and tissue distribution of TTX-MC138 in non-human primates, successful dosing of the first patient in a Phase 0 clinical study, and promising results in murine models bearing human glioblastoma multiforme tumors. The company also closed a public offering with gross proceeds of approximately $8.5 million. Planned milestones include additional patient enrollment in the Phase 0 clinical trial, submission of an IND application for a Phase I clinical trial, publication of preclinical in vivo studies, and continuation of discussions with potential strategic partners. Financially, TransCode has approximately $7.5 million in cash as of September 30, 2023, and expects it to fund planned operations into January 2024.

TransCode Therapeutics, Inc. (NASDAQ: RNAZ) has announced the withdrawal of its underwritten public offering of common stock due to unfavorable market conditions. The company believes that the offering terms would not be in the best interests of its stockholders.

TransCode Therapeutics, Inc. has been granted an extension to continue its listing on The Nasdaq Stock Market until January 22, 2024. The company must provide updates on its stockholders' equity requirement by November 14, 2023, and demonstrate long-term compliance by January 22, 2024. Failure to regain compliance by then may result in delisting.