24/7 Market News Snapshot 05 September, 2024 – TransCode Therapeutics, Inc. Common Stock (NASDAQ:RNAZ)

September 5, 2024

DENVER, Colo., 05 September, 2024 (247marketnews.com) – (NASDAQ:RNAZ) are discussed in this article.
TransCode Therapeutics, Inc. (NASDAQ:RNAZ) is currently experiencing a significant surge in stock performance, trading at approximately $0.265, a rise of 12.05% from its previous closing price of $0.236. With a robust trading volume of 12.89 million shares, investor interest is notably high, suggesting possible volatility and further price appreciation. Analysts are monitoring key resistance levels and market sentiment as indicators for the continuation of this upward trend, reflecting strong market dynamics.

In a separate yet impactful development, TransCode has secured a $2 million Direct to Phase II Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH). This funding is earmarked for the clinical evaluation of TTX-MC138, the company’s lead therapeutic candidate aimed at treating advanced solid tumors. The grant will be disbursed over the next two years, enhancing TransCode’s capabilities in its clinical research initiatives.

Currently, TransCode is activating three clinical trial sites for a Phase I/II study to assess the safety of TTX-MC138. While the primary endpoint is not focused on efficacy, preliminary results may provide early insights into the drug’s clinical activity in patients with metastatic disease. Dr. Zdravka Medarova, Chief Scientific Officer, expressed gratitude for NIH support, emphasizing the significance of the funding as a recognition of the potential impact and novelty of the TTX-MC138 clinical development program.

TTX-MC138 is positioned as a first-in-class therapeutic addressing the urgent need for effective treatments in managing metastatic cancer, particularly in tumors that overexpress microRNA-10b, a key biomarker associated with metastasis. TransCode remains dedicated to pushing the boundaries of RNA-based therapies and enhancing patient outcomes in the fight against cancer through its innovative TTX nanoparticle delivery platform.

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