BOSTON - TransCode Therapeutics, Inc. (NASDAQ: RNAZ) has revealed a study in collaboration with Michigan State University, which indicates that its leading therapeutic candidate, TTX-MC138, may reduce the ability of tumor cells to self-renew, a key factor in metastatic breast cancer. The study, led by Dr. Anna Moore of Michigan State University, was published in the journal Oncotarget on August 26, 2024.
The research focused on the role of microRNA-10b (miR-10b) in cancer cell stemness, which is associated with the development and spread of metastatic tumors. TTX-MC138 targets miR-10b, which is overexpressed in metastatic breast cancer cells. The study demonstrated that treatment with TTX-MC138 could reduce these cells' stem-like properties, potentially making them less likely to form new tumors.
Dr. Zdravka Medarova, Chief Scientific Officer at TransCode and co-author of the publication, commented on the significance of understanding TTX-MC138's mechanisms as the company proceeds with its Phase 1 clinical trial. The insights from this study could lead to better patient stratification and the identification of molecular biomarkers that predict clinical response and serve as early indicators of therapeutic efficacy.
TransCode Therapeutics is a clinical-stage oncology company dedicated to creating RNA therapeutics to combat metastatic disease. Their TTX nanoparticle platform is central to their approach, with TTX-MC138 being their primary focus for treating tumors that express miR-10b.
The press release also includes forward-looking statements regarding the therapeutic potential of TTX-MC138 and the outcomes of clinical trials. However, it acknowledges the risks associated with drug development, clinical trial consistency, regulatory submissions, and the company's financial needs.
Investors should note that these statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially. The information is based on a press release statement and does not represent an endorsement of the claims.
In other recent news, TransCode Therapeutics has been the subject of several significant developments. The company recently received a $2 million grant from the National Institutes of Health to support the progression of its drug candidate, TTX-MC138, in a Phase 1/2 study. H.C. Wainwright has maintained a Buy rating on the company's shares, reflecting confidence in the ongoing development of TTX-MC138.
TransCode Therapeutics is also facing potential delisting from Nasdaq due to non-compliance with minimum bid price and equity requirements, but the company has appealed this decision. Meanwhile, it has announced plans for a public stock offering, with ThinkEquity acting as the sole placement agent.
The company's Phase 0 trial of TTX-MC138 has shown potential anti-tumor activity, leading to FDA authorization for a Phase 1/2 clinical trial. In its recent Annual Meeting of Stockholders, four directors were elected and an amendment to increase shares for issuance under the company's 2021 Stock Option and Incentive Plan was approved. These are the recent developments at TransCode Therapeutics.
InvestingPro Insights
TransCode Therapeutics, Inc. (NASDAQ: RNAZ) is navigating the challenging landscape of drug development with its lead therapeutic candidate, TTX-MC138, showing promise in the fight against metastatic breast cancer. As the company progresses with its clinical trials, investors are keeping a close eye on its financial health and market performance.
One of the notable InvestingPro Tips for TransCode Therapeutics is that the company holds more cash than debt on its balance sheet, which is a positive sign for its financial stability. However, it is important to note that TransCode is quickly burning through cash, a common occurrence for clinical-stage biotech companies heavily invested in research and development.
From a market perspective, TransCode's stock has experienced significant volatility. The company's stock generally trades with high price volatility, which could be a factor for investors with a lower risk tolerance. Additionally, the stock has seen a significant return over the last week, with a 9.86% price total return, indicating a recent uptick in investor interest.
InvestingPro Data metrics provide further context to the company's financial state and market performance. As of the last twelve months, TransCode has a market capitalization of approximately $4.41 million USD. The company's Price / Book ratio stands at 3.34, which may suggest that the market values the company's assets favorably in relation to its share price. On the earnings front, TransCode has an EBITDA of -$17.68 million USD, reflecting the significant costs associated with its ongoing research and development activities.
For investors looking for additional insights and tips, there are 13 more InvestingPro Tips available for TransCode Therapeutics, which can be found at https://www.investing.com/pro/RNAZ. These tips may provide a deeper understanding of the company's financial position, market performance, and potential investment risks or opportunities.
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