TransCode Therapeutics Announces 1-for-33 Reverse Stock Split

TransCode Therapeutics, Inc. (NASDAQ: RNAZ) recently disclosed the approval of a 1-for-33 reverse stock split, aiming to enhance the per-share trading price of the company’s common stock and meet the minimal bid price prerequisite for ongoing listing on the Nasdaq Capital Market. The reverse stock split, effective at 12:01 a.m. Eastern Standard Time on December 4, 2024, will see the company’s common stock commence trading on a split-adjusted basis on the Nasdaq Capital Market under the existing trading symbol “RNAZ”.

Authorized by the company’s stockholders and Board of Directors on November 22, 2024, the reverse stock split will alter thirty-three current shares of TransCode’s common stock into one new share of common stock, without the issuance of fractional shares. Vstock Transfer LLC, the company’s transfer agent, will oversee the exchange process for the stock split, providing uniform treatment for all stockholders, except concerning fractional shares, where adjustments will be made accordingly.

Further adjustments will also be applied to the exercise prices of TransCode’s outstanding stock options and warrants, alongside the shares issuable under the company’s stock incentive plans. Following the completion of the reverse split and the shares issued in the private placement, approximately 696,233 shares of common stock are expected to be outstanding.

TransCode Therapeutics, a clinical-stage oncology company dedicated to combating cancer through RNA therapeutics delivery, aims to leverage its proprietary TTX nanoparticle platform for more effective treatments. Among its projects, the lead therapeutic candidate, TTX-MC138, focuses on metastatic tumors, particularly those overexpressing microRNA-10b, a recognized biomarker of metastasis.

This endeavor comes in the backdrop of inherent uncertainties and risks, typical of forward-looking statements, as articulated by the Company’s disclosure. The success of the reverse stock split in meeting Nasdaq listing criteria remains a focal point in TransCode’s strategic maneuvers.

For further information: TransCode Therapeutics, Inc., Tania Montgomery-Hammon, VP of Business Development, [email protected].

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read TransCode Therapeutics’s 8K filing here.

TransCode Therapeutics Company Profile

TransCode Therapeutics, Inc, a ribonucleic acid (RNA) oncology company, focuses on the development and commercialization of drugs and diagnostics for treating and identifying various cancers. Its lead therapeutic candidate is TTX-MC138 that targets microRNA-10b, a master regulator of metastatic cell viability in a range of cancers, including breast, pancreatic, ovarian, colon cancer, glioblastomas, and others.