Transcode Therapeutics, a platform delivery company focused on oncology, has not yet generated revenue from product sales and continues to incur significant operating losses. The company's net losses were approximately $8.7 million for the six months ended June 30, 2024, and $18.5 million for the year ended December 31, 2023. As of June 30, 2024, Transcode had an accumulated deficit of approximately $55.1 million. Despite these losses, Transcode has made progress in its business development, with its lead therapeutic candidate, TTX-MC138, targeting microRNA-10b, a master regulator of metastatic cell viability. In 2023, Transcode received exploratory IND Study May Proceed notification from the FDA, allowing a Phase 0 clinical trial. In April 2024, the FDA authorized a Phase I/II clinical trial for TTX-MC138, expected to commence in mid-2024. Transcode has other...Show More

Transcode Therapeutics, a platform delivery company focused on oncology, has not yet generated revenue from product sales and continues to incur significant operating losses. The company's net losses were approximately $8.7 million for the six months ended June 30, 2024, and $18.5 million for the year ended December 31, 2023. As of June 30, 2024, Transcode had an accumulated deficit of approximately $55.1 million. Despite these losses, Transcode has made progress in its business development, with its lead therapeutic candidate, TTX-MC138, targeting microRNA-10b, a master regulator of metastatic cell viability. In 2023, Transcode received exploratory IND Study May Proceed notification from the FDA, allowing a Phase 0 clinical trial. In April 2024, the FDA authorized a Phase I/II clinical trial for TTX-MC138, expected to commence in mid-2024. Transcode has other preclinical stage solid tumor programs and is developing a CRISPR/Cas9-based therapy platform and an mRNA-based platform for cancer vaccines. The company's proprietary TTX delivery mechanism aims to improve outcomes for cancer patients. Transcode's future plans include advancing its TTX platform, participating in the rapidly growing global CRISPR and mRNA therapeutics markets, and conducting clinical trials for TTX-MC138. However, the company's ability to continue operations is contingent upon securing additional funding, as its current capital is expected to fund operations only into late 2024. Transcode's common stock is also at risk of being delisted from the Nasdaq Capital Market due to non-compliance with the Minimum Bid Price Requirement.