From GlobeNewswire: 2024-04-03 09:10:00

TransCode Therapeutics, Inc. reported financial results for 2023, highlighting the advancement of lead therapeutic candidate TTX-MC138 into a Phase 1 clinical trial against metastatic cancer. Despite challenging financial markets, the company raised over $25 million in equity financings and signed strategic collaborations. Key highlights include IRB approval for a Phase 0 clinical trial with TTX-MC138 and positive preclinical and clinical results.

In 2024, TransCode aims to initiate a Phase 1 clinical trial with TTX-MC138 in patients with advanced solid tumors, publish preliminary results, and continue preclinical studies for other therapeutic candidates. The company also plans to strengthen organizational capabilities, raise capital, and expand collaborations to enhance its pipeline and delivery platforms.

Financially, TransCode had $2.8 million in cash on December 31, 2023, with research and development expenses of $12.3 million in 2023. The company raised approximately $6.2 million in net proceeds from a January 2024 offering, providing funds for operations into late third or early fourth quarter of 2024. TransCode is focused on treating metastatic diseases through RNA therapeutics using its TTX nanoparticle platform.

Forward-looking statements by TransCode outline its goals for clinical trials, regulatory filings, research programs, collaborations, and financial position. Risks and uncertainties related to drug development, regulatory approvals, intellectual property, competition, and financial condition are acknowledged. The company is committed to providing updates on its progress and financial position as required by law. For more information, contact Tania Montgomery-Hammon, Business Development at TransCode Therapeutics, Inc.



Read more at GlobeNewswire:: TransCode Therapeutics Reports 2023 Results; Provides