TransCode Therapeutics tumbles as stock offering priced at steep discount

Transcode Therapeutics

26/09/2023 11:19

** TransCode Therapeutics Inc's  RNAZ.O  shares down ~68% to
$0.80 premarket after overnight follow-on prices
    ** Co late Mon announced 15.7 mln shares (or pre-funded
warrants in lieu of shares) at $0.51 for ~$8 mln raise
    ** RNAZ shares nearly quadrupled from $0.66 to close at
$2.55 on Mon after co announced positive results of lead
candidate, TTX-MC138, to treat brain tumors
    ** Prior to offering, co had ~2 mln shares outstanding
    ** Shares ended 2022 at $13.46
    ** ThinkEquity acting as sole bookrunner for offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))