TransCode Therapeutics gains on ongoing restructuring, CEO retirement

Transcode Therapeutics

12/01/2024 21:51

** Shares of RNA oncology firm TransCode Therapeutics
 RNAZ.O  rise 31% to $0.17 in trading after the bell
    ** Co announces additional restructuring steps to cut costs
and focus on early stage trial of its lead therapeutic
candidate, TTX-MC138  
    ** Co-founder Michael Dudley to retire as CEO of the firm on
Jan. 13 as part of ongoing restructuring efforts
    ** Incumbent CFO Tom Fitzgerald to assume role of interim
CEO - co
    ** RNAZ had initially announced ongoing restructuring in an
open letter on Jan. 4 and said it had reduced employee count to
11 in 2023 from 19 at end of 2022
    ** RNAZ stock had fallen 67.2% in 2023

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com))