Following the withdrawal of a registration statement, shares of TransCode Therapeutics Inc. (NASDAQ: RNAZ) were up 55.88% to trade at $0.6544 at the time of the most recent check.
What declaration did RNAZ retract?
TransCode Therapeutics (RNAZ) declared that it has withdrawn the Registration Statement on Form S-1 it had updated on November 30 of 2022 and submitted to the US Securities and Exchange Commission on November 28. TransCode Therapeutics’ decision to withdraw the offering reflects its opinion that the present market environment does not favor an offering on terms that would be advantageous for the Company’s investors.
Previously, what took place at RNAZ?
In preparation for a First-in-Human Phase 0 clinical study, RNAZ has submitted an exploratory Investigational New Drug (eIND) application to the U.S. Food and Drug Administration (FDA). The primary therapy candidate for RNAZ, TTX-MC138, will be examined in cancer patients with advanced solid tumors in the planned clinical study. The pro-metastatic RNA microRNA-10b, referred to as the main regulator of metastasis in a variety of advanced solid tumors, is intended to be inhibited by TTX-MC138. According to RNAZ, TTX-MC138 could be utilized to treat several of these malignancies.
RNAZ aimed to get closer to commercializing this ground-breaking therapy for metastatic illness by moving TTX-MC138 development forward. RNAZ was certain that the eIND research would show that our primary treatment candidate was successfully delivered to metastatic lesions in patients with advanced solid malignancies. For many years, it has been difficult to distribute oligonucleotide therapies to places other than the liver. Overcoming this obstacle would be a revolutionary step in gaining therapeutic access to several well-known genetic targets implicated in a variety of malignancies and other diseases.
How does RNAZ view TTX’s potential?
According to TransCode Therapeutics (RNAZ), TTX-MC138 has the potential to cause regression without recurrence in a variety of malignancies, including glioblastomas, breast, pancreatic, ovarian, and colon cancer. The TTX platform allows for a modular drug design, built on the same transport mechanism but with variable payloads in terms of the structure, layout, and mechanisms involved of the nucleic acid that is being given. By establishing the viability of delivering TTX-MC138 to malignant lesions in people, RNAZ might unleash the promise of a wide range of RNA-targeted treatments.