TransCode (NASDAQ: RNAZ), the oncology company committed to utilizing RNA therapeutics to more effectively treat cancer, has announced the closing of its sale of 10,250,000 shares of its common stock and warrants to purchase up to 10,250,000 shares of common stock priced at-the-market under Nasdaq rules, at a purchase price of $0.98 per share and accompanying warrant. The company secured approximately $10 million in gross proceeds from the offering. TransCode intends to use the proceeds primarily for product development activities, including one or more clinical trials with its lead therapeutic candidate, TTX-MC138, including related IND-enabling studies, as well as for working capital and other general corporate purposes. ThinkEquity acted as sole placement agent for the offering.
To view the full press release, visit https://ibn.fm/Eab7z
About TransCode Therapeutics Inc.
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 has a portfolio of other 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.
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