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Transcode Therapeutics (RNAZ) Stock Rallied 78.5%. Here’s Why.

Simon Mugo trader
Updated 7 Dec 2022

The Transcode Therapeutics Inc (NASDAQ: RNAZ) stock price rallied 78.5% after announcing that it had withdrawn the registration statement it had filed with the US Securities and Exchange Commission (SEC).

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The company had planned to raise funds by selling 12.5 million units of its common stock. The company had not agreed on the pricing of the new shares but noted that its stock had been trading at about $0.48 at the time.

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Therefore, the price offered to the participating investors would have been around this average. Today’s announcement triggered a rally as investor interest in the company skyrocketed. RNAZ shares rallied after the registration statement’s withdrawal, indicating that the company is in a robust financial position and does not need to raise funds urgently. 

Some of the latest announcements from the company include the submission of an exploratory Investigational New Drug, eIND, application to the U.S. Food and Drug Administration, FDA, for a planned First-in-Human Phase 0 clinical trial.

Transcode Therapeutics intends to conduct a clinical trial to evaluate its lead therapeutic candidate, TTX-MC138, in cancer patients with advanced solid tumors. The drug is designed to inhibit the pro-metastatic RNA, microRNA-10b, which is the master regulator of metastasis in several advanced solid tumors.

The company has also released the preclinical trial data of its immunotherapy candidate, TTX-siPDL1, in pancreatic adenocarcinoma. The study showed that combining TTX-siPDL1 with the standard-of-care chemotherapeutic, gemcitabine resulted in tumor volumes that were 25% of those in untreated animals. 

The study showed that 75% of animals treated with the combination were alive after five weeks of treatment compared to 25% of those on gemcitabine alone. This was the second drug candidate developed by TransCode’s platform to show positive preclinical results in pancreatic cancer. 

Investor interest in Transcode Therapeutics stock remains high as shown by the over 4.76 million shares that changed hands during the premarket trading session. 

*This is not investment advice. 

Transcode Therapeutics (RNAZ) stock price. 

The Transcode Therapeutics (RNAZ) stock price rallied 78.47% to trade at $0.75, rising from Tuesday’s closing price of $0.4198.


YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading