TransCode Therapeutics, Inc. Announces Proposed Public Offering of Common Stock
TransCode Therapeutics (Nasdaq: RNAZ), a clinical-stage RNA oncology company, has announced a proposed public offering of common stock and pre-funded warrants. The offering, managed by ThinkEquity as the sole placement agent, aims to raise funds for product development activities, including clinical trials for TTX-MC138, their lead therapeutic candidate. The company plans to use the proceeds for IND enabling studies, working capital, and general corporate purposes.
The securities will be offered through a shelf registration statement filed with the SEC. TransCode focuses on treating metastatic disease using RNA therapeutics based on its TTX nanoparticle platform. Their lead candidate targets tumors overexpressing microRNA-10b, a biomarker of metastasis.
TransCode Therapeutics (Nasdaq: RNAZ), un'azienda di oncologia RNA in fase clinica, ha annunciato un'offerta pubblica proposta di azioni ordinarie e warrant prefinanziati. L'offerta, gestita da ThinkEquity come unico agente di collocamento, mira a raccogliere fondi per attività di sviluppo del prodotto, inclusi studi clinici per TTX-MC138, il loro principale candidato terapeutico. L'azienda prevede di utilizzare i proventi per studi preliminari all'IND, capitale circolante e scopi aziendali generali.
I titoli saranno offerti tramite un decreto di registrazione shelf depositato presso la SEC. TransCode si concentra sul trattamento delle malattie metastatiche utilizzando terapie RNA basate sulla sua piattaforma di nanoparticelle TTX. Il loro principale candidato mira a tumori che sovraesprimono microRNA-10b, un biomarker di metastasi.
TransCode Therapeutics (Nasdaq: RNAZ), una compañía de oncología RNA en etapa clínica, ha anunciado una oferta pública propuesta de acciones ordinarias y warrants prefinanciados. La oferta, gestionada por ThinkEquity como único agente de colocación, tiene como objetivo recaudar fondos para actividades de desarrollo de productos, incluidas las pruebas clínicas para TTX-MC138, su principal candidato terapéutico. La compañía planea utilizar los ingresos para estudios habilitadores de IND, capital de trabajo y fines corporativos generales.
Los valores se ofrecerán a través de un estado de registro shelf presentado ante la SEC. TransCode se centra en tratar enfermedades metastásicas utilizando terapias RNA basadas en su plataforma de nanopartículas TTX. Su candidato principal se dirige a tumores que sobreexpresan microRNA-10b, un biomarcador de metástasis.
TransCode Therapeutics (Nasdaq: RNAZ)는 임상 단계 RNA 종양학 회사로, 보통주 및 선매수 권리에 대한 공개 제안을 발표했습니다. ThinkEquity가 유일한 배치 에이전트로 관리하는 이번 제안은 제품 개발 활동을 위한 자금을 모으는 것을 목표로 하며, TTX-MC138, 그들의 주요 치료 후보에 대한 임상 시험이 포함됩니다. 회사는 수익금을 IND 준비 연구, 운영 자본 및 일반 기업 용도로 사용할 계획입니다.
증권은 SEC에 제출된 선반 등록 명세서를 통해 제공됩니다. TransCode는 TTX 나노입자 플랫폼을 기반으로 RNA 치료제를 사용하여 전이성 질환 치료에 중점을 두고 있습니다. 그들의 주요 후보는 전이를 나타내는 바이오마커인 마이크로RNA-10b를 과발현하는 종양을 목표로 합니다.
TransCode Therapeutics (Nasdaq: RNAZ), une société d'oncologie à base d'ARN en phase clinique, a annoncé une offre publique proposée d'actions ordinaires et de bons de souscription préfinancés. L'offre, gérée par ThinkEquity en tant qu'agent de placement unique, vise à lever des fonds pour des activités de développement de produits, y compris des essais cliniques pour TTX-MC138, leur principal candidat thérapeutique. L'entreprise prévoit d'utiliser les produits pour des études permettant l'IND, le fonds de roulement et des fins d'entreprise générales.
Les titres seront offerts par l'intermédiaire d'un état de registration shelf déposé auprès de la SEC. TransCode se concentre sur le traitement des maladies métastatiques en utilisant des thérapies à base d'ARN fondées sur sa plateforme de nanoparticules TTX. Leur principal candidat cible les tumeurs exprimant en excès le microARN-10b, un biomarqueur de métastases.
TransCode Therapeutics (Nasdaq: RNAZ), ein RNA-Onkologieunternehmen in der klinischen Phase, hat ein vorgeschlagenes öffentliches Angebot von Stammaktien und vorfinanzierten Warrants angekündigt. Das Angebot wird von ThinkEquity als einzigem Platzierungsagenten verwaltet und zielt darauf ab, Mittel für Produktentwicklungsaktivitäten, einschließlich klinischer Studien für TTX-MC138, ihrem führenden therapeutischen Kandidaten, zu sammeln. Das Unternehmen plant, die Erlöse für IND-ermöglichende Studien, Betriebskapital und allgemeine Unternehmenszwecke zu verwenden.
Die Wertpapiere werden über ein Shelf-Registrierungsstatement angeboten, das bei der SEC eingereicht wurde. TransCode konzentriert sich auf die Behandlung von metastatischen Erkrankungen mit RNA-Therapeutika basierend auf ihrer TTX-Nanopartikel-Plattform. Ihr Hauptkandidat zielt auf Tumore ab, die das MikroRNA-10b überexprimieren, einen Biomarker für Metastasen.
- Potential to raise capital for product development and clinical trials
- Advancement of lead therapeutic candidate TTX-MC138
- Expansion of working capital for corporate growth
- Potential dilution of existing shareholders' equity
- Uncertainty regarding the size and terms of the offering
- Market conditions may affect the completion of the offering
TransCode Therapeutics' proposed public offering is particularly significant for investors because it impacts the company's financial structure and potential for future growth. By issuing new shares, the company aims to raise capital to fund product development activities, including clinical trials for its leading candidate, TTX-MC138.
From a financial standpoint, this move can lead to
Short-term: The announcement of a public offering typically leads to a decrease in stock price due to dilution concerns. We can expect
Long-term: If the funds are effectively utilized in advancing their clinical trials and TTX-MC138 shows promising results, the company's market value could increase significantly. The success of clinical trials could lead to new partnerships or acquisitions, further enhancing shareholder value.
Focusing on the clinical development aspect, TransCode's decision to use the proceeds to fund clinical trials for TTX-MC138 is crucial. TTX-MC138 targets metastatic tumors with the microRNA-10b biomarker, which is a significant area of unmet medical need.
The allocation of these funds towards IND-enabling studies and clinical trials indicates a commitment to advancing their pipeline. Successful trials could not only validate TransCode's RNA therapeutics approach but also position TTX-MC138 as a potentially groundbreaking treatment for metastatic cancers.
For medical researchers and investors, the progress of these trials will be a key indicator of the company's future potential. The next significant milestone will be the preliminary results of these trials, which could drive substantial changes in the stock price based on their outcomes.
From a market perspective, TransCode's offering comes at a time when RNA therapeutics are gaining significant traction. The company's focus on using RNA to target metastatic diseases positions it well within a growing and competitive market. The public offering to raise funds aligns with the strategic necessity to maintain a robust cash position to fund ongoing and future trials.
It's essential to consider the broader industry context: the demand for innovative cancer treatments is high and successful RNA-based therapies could capture substantial market share. The market's response to this offering will also depend on investor confidence in TransCode's ability to effectively utilize the funds and achieve clinical milestones.
Industry Trends: The RNA therapeutics market is projected to grow significantly, driven by advancements in technology and increased investment in biotech. TransCode's strategy to capitalize on this trend by raising funds for clinical development could enhance its competitive positioning if their products show efficacy.
BOSTON, July 22, 2024 (GLOBE NEWSWIRE) -- TransCode Therapeutics, Inc. (Nasdaq: RNAZ) (“TransCode” or the “Company”), a clinical-stage RNA oncology company committed to more effectively treating cancer using RNA therapeutics, today announced that it intends to offer to sell shares of its common stock (and/or pre-funded warrants (“Pre-funded Warrants”) in lieu thereof) in a best efforts public offering. All of the shares of common stock (and/or Pre-funded Warrants) are to be sold by the Company.
ThinkEquity is acting as the sole placement agent for the offering.
The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to use the net proceeds from the offering primarily for product development activities, including one or more clinical trials with TTX-MC138, its lead therapeutic candidate, and related investigational new drug (IND) enabling studies, and for working capital and other general corporate purposes.
The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-268764), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 13, 2022, and declared effective on December 16, 2022. The offering will be made only by means of a written prospectus forming part of the effective shelf registration statement. A preliminary prospectus supplement describing the terms of the offering, and an accompanying prospectus has been or will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such preliminary prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About TransCode Therapeutics
TransCode is a clinical-stage oncology company focused on treating metastatic disease. The company is committed to defeating cancer through the intelligent design and effective delivery of RNA therapeutics based on its proprietary TTX nanoparticle platform. The Company’s lead therapeutic candidate, TTX-MC138, is focused on treating metastatic tumors which overexpress microRNA-10b, a unique, well-documented biomarker of metastasis. In addition, TransCode is developing a portfolio of first-in-class RNA therapeutic candidates designed to overcome the challenges of RNA delivery and thus unlock therapeutic access to a variety of novel genetic targets that could be relevant to treating a variety of cancers.
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to substantial risks and uncertainties, including statements related to the completion of the offering. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “aim,” “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” "will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties and risks that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These risks and uncertainties include, but are not limited to: TransCode’s ability to satisfy the closing conditions related to the offering and the timing and completion of such closing, the use of the net proceeds of the offering, various other factors, and the continued listing of our common stock on the Nasdaq Capital Market. These and other risks and uncertainties are described more fully in the sections titled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the registration statement and in the preliminary prospectus supplement related to the offering described herein, and the Company’s annual report on Form 10-K, quarterly report on Form 10-Q and other reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
For Investor Relations Inquiries:
TransCode Therapeutics, Inc.
Tania Montgomery-Hammon, VP Business Development
Tania.montgomery@transcodetherapeutics.com
![](https://ml.globenewswire.com/media/ODQ2MDQwZDgtYTE3NC00N2RkLTg2ZTEtNTJmOWFjMjZkNTU5LTEyMTkyMDM=/tiny/TransCode-Therapeutics-Inc-.png)
FAQ
What is the purpose of TransCode Therapeutics' (RNAZ) proposed public offering?
Who is the placement agent for TransCode Therapeutics' (RNAZ) public offering?
What is TransCode Therapeutics' (RNAZ) main focus in oncology research?