Microvast Holdings announces departure of chief financial officer
Transcode Therapeutics, Inc. (RNAZ) stock has reached a 52-week low, trading at $0.64, marking a significant downturn for the biotech company. According to InvestingPro data, the company maintains a healthy current ratio of 1.58 and holds more cash than debt on its balance sheet, though it’s quickly burning through available funds. Over the past year, the stock has experienced a precipitous decline, with a 1-year change showing a staggering 94.91% decrease in value, bringing its market capitalization to just $0.46 million. With earnings scheduled in 7 days, InvestingPro analysis suggests the stock may be undervalued at current levels. This downturn reflects investor concerns and broader market trends affecting the biotech sector, as Transcode Therapeutics navigates through a challenging period marked by this new low in its stock price.
In other recent news, TransCode Therapeutics, Inc. has announced progress in its Phase 1 clinical trial for its leading cancer therapy candidate, TTX-MC138. The company has successfully dosed three patients in Cohort 3 following approval by the Safety Review Committee, which reviewed safety and pharmacokinetic data from the first two cohorts. The trial involves nine patients, with no significant safety issues or dose-limiting toxicities reported so far. The ongoing analyses indicate that TTX-MC138’s pharmacokinetic and pharmacodynamic profile is consistent with previous trial outcomes. Notably, Cohort 1 showed a 66% inhibition of miR-10b at 24 hours post-infusion, affirming Phase 0 observations. The trial is structured to assess the safety, tolerability, and potential anti-tumor activity of TTX-MC138 across various metastatic solid cancers. The primary aim of the dose-escalation stage is to determine the safety and tolerability of escalating doses, while the dose-expansion stage will evaluate the therapy’s efficacy in selected tumor types. These developments highlight TransCode’s ongoing efforts in RNA therapeutics for metastatic diseases.
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