TransCode Therapeutics slips on reverse stock split

Transcode Therapeutics

22/05/2023 13:20

** Shares of biotech co TransCode Therapeutics Inc  RNAZ.O 
down 19.2% premarket at 23 cents 
    ** Board approved 1-for-20 reverse stock split, to be
effective May 22
    ** RNAZ common stock is expected to begin trading on
split-adjusted basis on Nasdaq on Tuesday, May 23, under the
current trading symbol
    ** Split is intended to help co to satisfy the minimum bid
price requirement for continued listing on Nasdaq 
    ** Currently, co has about 17 mln outstanding shares -
Refinitiv
    ** Shares down ~58% YTD

 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com))