BOSTON, March 25,
2025 /PRNewswire/ -- TransCode Therapeutics, Inc.
(Nasdaq: RNAZ), ("TransCode" or the "Company"), the RNA oncology
company committed to more effectively treating cancer using RNA
therapeutics, today announced the closing of its previously
announced 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, for gross proceeds of approximately $10 million, before deducting placement agent
fees and offering expenses payable by the Company.
The Company intends to use the proceeds from the offering
primarily for product development activities, including one or more
clinical trials with TTX-MC138, its lead therapeutic candidate,
including related 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 the
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 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.
Forward-Looking Statements
This release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including, without
limitation, statements concerning the timing, conduct and results
of TransCode's clinical trials, statements about microRNAs and
their involvement in cancer, and statements concerning the
therapeutic potential of TransCode's TTX-MC138. Any forward-looking
statements in this press release are based on management's current
expectations of future events and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially and adversely from those set forth in or implied by such
forward-looking statements. These risks and uncertainties include,
but are not limited to: the risks associated with drug discovery
and development; the risk that the results of clinical trials will
not be consistent with TransCode's pre-clinical studies or
expectations or with results from previous clinical trials; risks
associated with the conduct of clinical trials; risks associated
with TransCode's financial condition and its need to obtain
additional funding to support its business activities, including
TransCode's ability to continue as a going concern; risks
associated with the timing and outcome of TransCode's planned
regulatory submissions; risks associated with obtaining,
maintaining and protecting intellectual property; risks associated
with TransCode's ability to enforce its patents against infringers
and defend its patent portfolio against challenges from third
parties; risks of competition from other companies developing
products for similar uses; risks associated with TransCode's
dependence on third parties; and risks associated with geopolitical
events and pandemics, including military conflicts. For a
discussion of these and other risks and uncertainties, and other
important factors, any of which could cause TransCode's actual
results to differ from those contained in or implied by the
forward-looking statements, see the section entitled "Risk Factors"
in TransCode's Annual Report on Form 10-K for the year ended
December 31, 2023, as well as
discussions of potential risks, uncertainties and other important
factors in any subsequent TransCode filings with the Securities and
Exchange Commission. All information in this press release is as of
the date of this release; TransCode undertakes no duty to update
this information unless required by law.
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SOURCE TransCode Therapeutics, Inc.
