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Transcode Therapeutics | DEFA14A: Others

SEC announcement · Jan 4 00:00

RNAZ -0.65%

Summary by Moomoo AI

TransCode Therapeutics, Inc., an RNA oncology company, has published an open letter to shareholders, detailing its progress in 2023 and outlining objectives for 2024. Despite a challenging financial climate, TransCode successfully raised approximately $18.5M in new capital and initiated its first clinical trial with TTX-MC138, a compound designed to treat metastatic disease. The company has an active eIND open with the FDA for a Phase 0 clinical trial and plans to submit an IND for a Phase 1 trial in the first quarter of 2024. TransCode is also in partnership discussions for several preclinical programs and has streamlined operations, reducing headcount and implementing temporary salary reductions for senior management. Additionally, the board has proposed a reverse stock split to improve the company's ability to raise necessary capital and comply with Nasdaq's stockholders' equity requirement. The letter, signed by Executive Chairman Philippe Calais and CEO R. Michael Dudley, requests shareholder support for the reverse stock split.

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This announcement is a separate document:

Doc 1

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