TransCode Therapeutics, Inc. Announces Closing of Public Offering
July 24 2024 - 4:05PM
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
the closing of its previously announced public offering of
10,000,000 shares of its common stock at a public offering price of
$0.30 per share, for gross proceeds of $3,000,000, before deducting
placement agent fees and offering expenses.
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.
ThinkEquity acted as sole placement agent for
the offering.
The offering was made pursuant to an effective
shelf registration statement that has been filed with the U.S.
Securities and Exchange Commission (the “SEC”). The final
prospectus supplement relating to the offering was filed with the
SEC and is available on the SEC's website at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering may be obtained from
ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004
Attention: Prospectus Department.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.
About TransCode Therapeutics,
Inc.TransCode Therapeutics, Inc. (Nasdaq: RNAZ) 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 StatementsThis
press release contains “forward-looking statements” as defined by
the Private Securities Litigation Reform Act of 1995 that involve
risks and uncertainties. In some cases, you can identify
forward-looking statements by terms such as “believe,” “can,”
“could,” “design,” “estimate,” “expect,” “intend,” “may,” “might,”
“objective,” “plan” “potential,” “predict,” “should,” “will,”
“would,” or the negative of these terms and similar expressions
intended to identify forward-looking statements. These
forward-looking statements include statements related to the
intended use of the net proceeds. TransCode cautions readers that
forward-looking statements are based on management’s expectations
and assumptions as of the date of this news release and are subject
to certain risks and uncertainties that could cause actual results
to differ materially, including, but not limited to, risks related
to prevailing market conditions, the impact of general economic,
industry or political conditions in the United States, and various
other factors, and the continued listing of the Company’s 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 prospectus supplement
related to the offering described herein, and in the Company’s
annual report on Form 10-K, quarterly report on Form 10-Q and other
reports filed with the SEC. Forward-looking statements reflect the
Company’s analysis only on their stated date, and TransCode
undertakes no obligation to update or revise these statements
except as may be required by law.
Investor Relations:
TransCode Therapeutics, Inc.Tania
Montgomery-HammonVP Business
DevelopmentTania.montgomery@transcodetherapeutics.com
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