Transcode Therapeutics Inc Stock Price, News & Analysis

TransCode Therapeutics, Inc. (NASDAQ: RNAZ) announced a Common Stock Purchase Agreement with White Lion Capital, allowing the sale of up to approximately $1.08 million in common stock until May 31, 2023. The funds will be utilized for working capital and corporate purposes. The offering will occur under a previously filed shelf registration statement with the SEC. TransCode focuses on developing RNA therapeutics to treat various cancers, with their lead candidate, TTX-MC138, targeting metastatic cancers responsible for a significant portion of cancer deaths globally. Additional candidates include TTX-siPDL1 and TTX-siLIN28B, aimed at inhibiting tumor growth.

BOSTON, April 6, 2023 (GLOBE NEWSWIRE) -- TransCode Therapeutics (NASDAQ: RNAZ), the RNA Oncology Company™, will present new results at the AACR Annual Meeting from April 14-19. Highlights include:

• A study showcasing the RNAi-based checkpoint inhibitor TTX-siPDL1 in pancreatic adenocarcinoma, indicating successful therapeutic efficacy.
• Preclinical data on TTX-MC138 demonstrating efficacy and mechanism in pancreatic adenocarcinoma models.
• A Phase 0 microdose study demonstrating delivery of radiolabeled TTX-MC138 in patients with advanced solid tumors.

Zdravka Medarova, CTO, emphasized the rapid progress toward clinical trials aimed at metastatic disease treatment. With recent FDA approval for TTX-MC138's First-in-Human Study, the company advances from animal studies to clinical trials.

TransCode Therapeutics (NASDAQ: RNAZ) has secured a third-year Fast-Track Small Business Innovation Research (SBIR) grant amounting to nearly $871,000 from the NIH. This funding will support clinical evaluations of TTX-MC138, the company's lead therapeutic candidate targeting advanced solid tumors, particularly those associated with metastatic disease. CEO Michael Dudley expressed gratitude for the NIH's ongoing support, emphasizing the potential of their TTX platform. The company is preparing for a first-in-human study and has shown promise in preclinical trials, specifically against micoRNA-10b in metastatic cancer models.

TransCode Therapeutics, Inc. (NASDAQ: RNAZ) announced that it will not complete the sale of Series A Convertible Preferred Stock originally valued at $500,000 due to the proposed purchaser's withdrawal from the agreement. The company will not issue any shares related to this transaction and has reserved its legal rights. TransCode aims to enhance cancer treatment through RNA therapeutics, with its lead candidate, TTX-MC138, targeting metastatic cancers linked to high mortality rates. The firm also explores several other drug candidates and gene-editing platforms to improve patient outcomes in oncology.

TransCode Therapeutics (Nasdaq: RNAZ) announced the sale of 60 shares of its Series A Convertible Preferred Stock to Triton Funds for $500,000. Each share has a stated value of $10,000 and is convertible at a price of $0.60 per share of common stock. This offering is part of a registered direct offering under a previously effective Form S-3 registration statement filed with the SEC. The securities will not be offered in jurisdictions where it would be unlawful prior to proper registration.

TransCode aims to improve cancer treatment through its RNA therapeutic platform, including candidates targeting various tumor types.

TransCode Therapeutics (NASDAQ: RNAZ) reported strong 2022 results, highlighting FDA approval for its Phase 0 clinical trial of TTX-MC138 in advanced solid tumors. Key milestones included a strategic alliance with MD Anderson Cancer Center and receiving Orphan Drug Designation for TTX-siPDL1. Financially, the company faced challenges, ending 2022 with $5.0 million in cash, down from $20.8 million in 2021. Research and development expenses rose to $10.5 million. Recent advancements include positive preclinical results for TTX-MC138, where 40% of treated animals showed complete response.

TransCode Therapeutics (NASDAQ: RNAZ) announced that the FDA granted Orphan Drug Designation for its lead candidate, TTX-MC138, aimed at treating pancreatic cancer. This designation is crucial due to pancreatic cancer's low survival rate, less than 10%. The designation may offer benefits such as seven years of marketing exclusivity, tax credits for qualified R&D, and an exemption from the PDUFA filing fee, estimated to save over $3 million. TTX-MC138 showed promise in preclinical models, achieving complete responses in 40% of subjects. A Phase 0 clinical trial is set to assess TTX-MC138 in patients with advanced solid tumors, aiming to inform future treatments.

TransCode Therapeutics, Inc. (Nasdaq: RNAZ) has signed a non-binding letter of intent and a joint research and development agreement with BRAIN Biotech AG to co-develop a platform technology aimed at cancer treatment. The partnership focuses on integrating BRAIN's G-dase E CRISPR nuclease with TransCode's TTX nucleic acid delivery platform. This innovative approach targets cancer cells based on RNA biomarkers, potentially leading to new therapeutic applications. The collaboration is considered a significant milestone for TransCode, expanding its pipeline and enhancing its methodologies for treating metastatic cancer, which causes a majority of cancer-related deaths globally.

TransCode Therapeutics, Inc. (Nasdaq: RNAZ) announced a registered direct offering of 2,846,300 shares at $0.527 per share, aiming to raise approximately $1.5 million in gross proceeds. H.C. Wainwright & Co. is acting as the exclusive placement agent. The offering is expected to close around February 17, 2023, subject to standard conditions. The shares are being offered via a previously filed shelf registration statement with the SEC. This capital raise is intended to support the development of TransCode's RNA therapeutic candidates targeting various cancer types, including metastatic cancers, which are responsible for significant cancer mortality worldwide.