TransCode Therapeutics, Inc. - RNAZ STOCK NEWS

TransCode Therapeutics (RNAZ) has announced a 1-for-33 reverse stock split effective December 4, 2024, at 12:01 a.m. EST. The split aims to increase the per-share trading price to meet Nasdaq's minimum bid price requirement for continued listing. The split will reduce outstanding common shares from 17,265,658 to approximately 696,233 shares. The company's stock will continue trading under 'RNAZ' on the Nasdaq Capital Market. Proportional adjustments will be made to stock options, warrants, and shares under incentive plans. Stockholders will have fractional shares rounded up to the nearest whole number.

TransCode Therapeutics (Nasdaq: RNAZ) has announced an $8 million private placement with institutional investors. The company will issue 21,220,160 shares of common stock along with Series C and Series D warrants. The combined purchase price is $0.377 per share, with warrants exercisable at $0.475. Series C warrants have a 5-year term while Series D warrants have a 2.5-year term. The Benchmark Company is acting as exclusive placement agent, with closing expected around November 29, 2024. The proceeds will be used for general corporate purposes and working capital.

TransCode Therapeutics (RNAZ) announced a Board-approved 1-for-33 reverse stock split, which was approved by stockholders on November 22, 2024. The split aims to increase the per-share trading price to meet Nasdaq's minimum bid price requirements for continued listing. The split will reduce outstanding shares from 17,265,658 to approximately 523,202. Proportional adjustments will be made to stock options, warrants, and shares under incentive plans. No fractional shares will be issued, with fractions rounded up to the nearest whole number. The effective date is pending announcement.

TransCode Therapeutics (NASDAQ: RNAZ) has issued an open letter to shareholders regarding an upcoming Special Meeting on November 22. The company is seeking shareholder authorization for a potential reverse stock split to maintain Nasdaq listing compliance. The split would only be implemented if the stock fails to maintain a $1.00 per share closing price for any ten-day period before December 31, 2024.

Management emphasizes this measure is important for maintaining Nasdaq listing, which they consider critical for raising needed capital to continue clinical trials and operations. The company warns that delisting would likely have a material adverse effect on company and stock value.

TransCode Therapeutics (RNAZ) has received a notice from Nasdaq granting its request to maintain its listing on The Nasdaq Stock Market, subject to specific compliance conditions. The decision follows TransCode's appearance before the Nasdaq Hearings Panel on October 1, 2024. The Panel issued a Public Reprimand Letter regarding compliance issues with listing standards, including bid price requirements, equity requirements, and shareholder approval of certain transactions.

TransCode Therapeutics (NASDAQ: RNAZ) announced that the Safety Review Committee (SRC) has unanimously approved opening the second cohort in its Phase 1 clinical trial of TTX-MC138, following a favorable safety review of Cohort 1 data. TTX-MC138, designed to inhibit microRNA-10b important in metastatic cancer progression, showed no significant safety or dose-limiting toxicities in the first cohort. All patients from Cohort 1 remain on study, and the second cohort will receive approximately double the initial dose. TransCode is notably the only company with an ongoing US clinical trial targeting microRNA in cancer, utilizing technology recognized by the 2024 Nobel Prize in Physiology and Medicine.

TransCode Therapeutics (NASDAQ: RNAZ) has completed initial dosing of the first cohort in its Phase 1a dose-escalation clinical trial for TTX-MC138, an antisense oligonucleotide designed to inhibit microRNA-10b, a driver of metastasis in multiple cancers. Key points:

• All patients in the cohort received their first dose and remain on study for continued treatment
• No significant safety or dose limiting toxicities reported
• TTX-MC138 uses TransCode's proprietary TTX delivery system
• TransCode is the only company with an ongoing US clinical trial targeting microRNA in cancer
• The trial's progress coincides with the 2024 Nobel Prize in Physiology and Medicine recognizing microRNA technology

The company views the rapid enrollment and absence of dose limiting toxicities as encouraging signs for the continued assessment of TTX-MC138's safety and tolerability.

TransCode Therapeutics (NASDAQ: RNAZ) has announced the dosing of the first two patients in its Phase 1 clinical trial for TTX-MC138, a first-in-class therapeutic candidate designed to treat metastatic cancers. The trial, a multicenter, open-label, dose-escalation and dose-expansion study, aims to evaluate the safety and tolerability of TTX-MC138 in patients with metastatic cancer. Several additional patients have been screened for enrollment.

TTX-MC138 is an antisense oligonucleotide conjugated to TransCode's proprietary TTX delivery system, designed to inhibit microRNA-10b, a known driver of metastasis in multiple cancers. This Phase 1 trial follows a successful Phase 0 clinical trial that showed evidence of delivery and pharmacodynamic activity of a radiolabeled version of TTX-MC138.

TransCode Therapeutics (NASDAQ: RNAZ) has published a study in Oncotarget demonstrating the efficacy of its lead therapeutic candidate, TTX-MC138, against metastatic cancer. The research, conducted in collaboration with Michigan State University, reveals that TTX-MC138 reduces tumor cell capacity for self-renewal by targeting miR-10b, a molecule expressed in stem-like breast cancer cells.

Key findings include:

• Stem-like breast cancer cells increase expression of miR-10b
• TTX-MC138 treatment reduces cancer cell stemness
• Cancer cell stemness is important for metastasis and tumor formation

This study provides insights into TTX-MC138's mechanisms, potentially aiding in predicting clinical responses, defining molecular biomarkers, and improving patient stratification for future clinical trials.