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Transcode Therapeutics | 10-Q: Q2 2024 Earnings Report

Transcode Therapeutics | 10-Q: Q2 2024 Earnings Report

Transcode Therapeutics | 10-Q:2024财年二季报
美股SEC公告 ·  2024/08/14 13:51

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TransCode Therapeutics reported a net loss of $5.2 million for Q2 2024, compared to a $4.3 million loss in Q2 2023. Research and development expenses increased by $116,000 to $3.1 million, while general and administrative expenses decreased by $125,000 to $2.0 million. The company had $3.4 million in cash as of June 30, 2024.The company achieved significant clinical milestones, including receiving FDA authorization to proceed with a Phase I/II clinical trial for its lead candidate TTX-MC138. Preliminary results from its Phase 0 trial showed successful delivery of TTX-MC138 to metastatic lesions and significant inhibition of target miRNA-10b. The company entered collaborations with Debiopharm and another biotechnology company to expand its therapeutic platform.TransCode faces near-term financial challenges, with current cash expected to fund operations only into late 2024. The company received notice from Nasdaq regarding non-compliance with the minimum bid price requirement and must appeal by August 20, 2024, to maintain listing. Management is considering cost reduction strategies and additional financing options to sustain operations.
TransCode Therapeutics reported a net loss of $5.2 million for Q2 2024, compared to a $4.3 million loss in Q2 2023. Research and development expenses increased by $116,000 to $3.1 million, while general and administrative expenses decreased by $125,000 to $2.0 million. The company had $3.4 million in cash as of June 30, 2024.The company achieved significant clinical milestones, including receiving FDA authorization to proceed with a Phase I/II clinical trial for its lead candidate TTX-MC138. Preliminary results from its Phase 0 trial showed successful delivery of TTX-MC138 to metastatic lesions and significant inhibition of target miRNA-10b. The company entered collaborations with Debiopharm and another biotechnology company to expand its therapeutic platform.TransCode faces near-term financial challenges, with current cash expected to fund operations only into late 2024. The company received notice from Nasdaq regarding non-compliance with the minimum bid price requirement and must appeal by August 20, 2024, to maintain listing. Management is considering cost reduction strategies and additional financing options to sustain operations.
TransCode Therapeutics报告2024年第二季度净亏损520万美元,而2023年第二季度则亏损430万美元。研发支出增加了116,000美元,总额达到310万美元,而一般和行政开支减少了125,000美元,降至200万美元。截止到2024年6月30日,公司现金余额为340万美元。公司实现了显著的临床里程碑,包括获得FDA授权继续进行其主要候选药物TTX-MC138的I/II期临床试验。来自其I期临床试验的初步结果显示成功将TTX-MC138递送至转移性病灶,并显著抑制了目标miRNA-100亿。公司与Debiopharm及另一家生物技术公司建立了合作关系,以扩展其治疗平台。TransCode面临短期财务挑战,目前现金预计只能维持运营到2024年底。公司收到了纳斯达克关于未能遵守最低买盘价格要求的通知,并必须在2024年8月20日之前上诉以维持上市。管理层正在考虑降低成本的策略和额外的融资方案以维持运营。
TransCode Therapeutics报告2024年第二季度净亏损520万美元,而2023年第二季度则亏损430万美元。研发支出增加了116,000美元,总额达到310万美元,而一般和行政开支减少了125,000美元,降至200万美元。截止到2024年6月30日,公司现金余额为340万美元。公司实现了显著的临床里程碑,包括获得FDA授权继续进行其主要候选药物TTX-MC138的I/II期临床试验。来自其I期临床试验的初步结果显示成功将TTX-MC138递送至转移性病灶,并显著抑制了目标miRNA-100亿。公司与Debiopharm及另一家生物技术公司建立了合作关系,以扩展其治疗平台。TransCode面临短期财务挑战,目前现金预计只能维持运营到2024年底。公司收到了纳斯达克关于未能遵守最低买盘价格要求的通知,并必须在2024年8月20日之前上诉以维持上市。管理层正在考虑降低成本的策略和额外的融资方案以维持运营。
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