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Transcode Therapeutics | 10-Q: Q3 2024 Earnings Report

Transcode Therapeutics | 10-Q: Q3 2024 Earnings Report

Transcode Therapeutics | 10-Q:2024財年三季報
美股SEC公告 ·  2024/11/15 05:36

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TransCode Therapeutics reported Q3 2024 net loss of $2.3 million, compared to $5.3 million in Q3 2023, with cash of $1.9 million as of September 30, 2024. Research and development expenses decreased to $1.2 million from $3.3 million YoY, while general and administrative costs declined to $0.9 million from $2.0 million.The company's Phase 1 clinical trial with lead candidate TTX-MC138 is progressing, with the Safety Review Committee approving dosing of the second patient cohort at double the initial dose level. Preliminary data from the Phase 0 trial showed successful drug delivery to metastatic lesions and 66% reduction in miR-10b levels 24 hours post-dosing, with no reported adverse reactions.TransCode faces near-term challenges including Nasdaq listing compliance requirements and the need for additional funding beyond Q4 2024. The company received a formal extension from Nasdaq to regain compliance and must meet several conditions by December 31, 2024, including maintaining minimum bid price and stockholders' equity requirements. Management is evaluating strategic options while focusing resources on advancing the TTX-MC138 clinical program.
TransCode Therapeutics reported Q3 2024 net loss of $2.3 million, compared to $5.3 million in Q3 2023, with cash of $1.9 million as of September 30, 2024. Research and development expenses decreased to $1.2 million from $3.3 million YoY, while general and administrative costs declined to $0.9 million from $2.0 million.The company's Phase 1 clinical trial with lead candidate TTX-MC138 is progressing, with the Safety Review Committee approving dosing of the second patient cohort at double the initial dose level. Preliminary data from the Phase 0 trial showed successful drug delivery to metastatic lesions and 66% reduction in miR-10b levels 24 hours post-dosing, with no reported adverse reactions.TransCode faces near-term challenges including Nasdaq listing compliance requirements and the need for additional funding beyond Q4 2024. The company received a formal extension from Nasdaq to regain compliance and must meet several conditions by December 31, 2024, including maintaining minimum bid price and stockholders' equity requirements. Management is evaluating strategic options while focusing resources on advancing the TTX-MC138 clinical program.
TransCode Therapeutics報告2024年第三季度淨虧損230萬美元,相較於2023年第三季度的530萬美元,截至2024年9月30日現金爲190萬美元。研發費用同比減少至120萬美元,較去年330萬美元下降,而一般和行政支出也從200萬美元下降至90萬美元。該公司的第一階段臨牀試驗主要候選藥物TTX-MC138正在推進,安全審查委員會已批准以初始劑量的兩倍進行第二患者隊列的給藥。來自階段0試驗的初步數據顯示,成功將藥物輸送至轉移性病竈,並在給藥24小時後miR-100億水平降低66%,沒有報告不良反應。TransCode面臨近期挑戰,包括納斯達克上市合規要求以及2024年第四季度之後需要額外融資的問題。公司已從納斯達克獲得正式延期以恢復合規,並必須在2024年12月31日前滿足多個條件,包括保持最低買盤價格和股東權益要求。管理層正在評估戰略期權,同時集中資源推進TTX-MC138臨牀項目。
TransCode Therapeutics報告2024年第三季度淨虧損230萬美元,相較於2023年第三季度的530萬美元,截至2024年9月30日現金爲190萬美元。研發費用同比減少至120萬美元,較去年330萬美元下降,而一般和行政支出也從200萬美元下降至90萬美元。該公司的第一階段臨牀試驗主要候選藥物TTX-MC138正在推進,安全審查委員會已批准以初始劑量的兩倍進行第二患者隊列的給藥。來自階段0試驗的初步數據顯示,成功將藥物輸送至轉移性病竈,並在給藥24小時後miR-100億水平降低66%,沒有報告不良反應。TransCode面臨近期挑戰,包括納斯達克上市合規要求以及2024年第四季度之後需要額外融資的問題。公司已從納斯達克獲得正式延期以恢復合規,並必須在2024年12月31日前滿足多個條件,包括保持最低買盤價格和股東權益要求。管理層正在評估戰略期權,同時集中資源推進TTX-MC138臨牀項目。
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