Just yesterday, TransCode’s stock climbs a $6.45 point. Today, in pre-market, it plans to overjump yesterday’s price as it is currently at $8, which results in a 24% gain. TransCode Therapeutics valued its first public offering of 6,250,000 common shares at $ 4 per share with gross proceeds of $ 25,000,000 excluding discounts and placement costs.
Transcode Therapeutics also granted underwriters a 45-day call option to purchase an additional 937,500 ordinary shares at the initial public offering price less the underwriting discount to cover the replacement. Transcode Therapeutics offers all common products.
Transcode Therapeutics plans to leverage the testing funds needed to submit the IND for the TTX-MC138 Phase 0 trial, and to continue developing the TTX-MC138, strategically growing its drug candidate portfolio and working capital. On July 9, 2021, the shares will begin trading on the Nasdaq Capital Market under the ticker “RNAZ”. The placement is scheduled to close on July 13, 2021, subject to all normal closing conditions.
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