Summary by Moomoo AI
Transcode Therapeutics, Inc., a platform delivery company focused on oncology, reported its financial statements for the quarter ending September 30, 2024. The company has not generated any revenue from product sales and reported an income tax benefit (expense) of $0 for both the current and previous year's quarters. Transcode has recorded a full valuation allowance against its net deferred tax assets due to historic net operating losses. The company's financial performance shows net losses of approximately $10.8 million for the nine months ended September 30, 2024, and an accumulated deficit of approximately $57.3 million. Transcode's cash balance as of September 30, 2024, was approximately $1.9 million, which is expected to fund operations into late 2024.
In terms of business development, Transcode's lead therapeutic candidate, TTX-MC138, targets microRNA...Show More
