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TransCode Therapeutics Announces Termination of Previously Announced Sale of Series A Preferred Stock
BOSTON, April 04, 2023 (GLOBE NEWSWIRE) -- TransCode Therapeutics, Inc. (NASDAQ: RNAZ), the RNA Oncology CompanyTM committed to more effectively treating
About this update from Transcode Therapeutics, Inc.
[{"type":"text","content":"BOSTON, April 04, 2023 (GLOBE NEWSWIRE) -- TransCode Therapeutics, Inc. (NASDAQ: RNAZ), the RNA Oncology CompanyTM committed to more effectively treating cancer using RNA therapeutics, today announced that its previously announced sale of Series A Convertible Preferred Stock for an aggregate purchase price of $500,000 will not be consummated after the proposed purchaser advised the Company that it was not prepared to complete the transaction on the terms set forth in the Stock Purchase Agreement signed by the investor. Accordingly, no shares of Series A Convertible Preferred Stock will be issued and sold with respect to this previously announced transaction. The Company has reserved its legal rights with respect to this matter. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About TransCode Therapeutics TransCode is an RNA oncology company created on the belief that cancer can be more effectively treated using RNA therapeutics. The Company has created a platform of drug candidates designed to target a variety of tumor types with the objective of significantly improving patient outcomes. The Company’s lead therapeutic candidate, TTX-MC138, is focused on treating metastatic cancer, which is believed to cause approximately 90% of all cancer deaths totaling over nine million per year worldwide. The Company believes that TTX-MC138 has the potential to produce regression without recurrence in a range of cancers, including breast, pancreatic, ovarian and colon cancer, glioblastomas and others. Two of the Company’s other drug candidates, TTX-siPDL1 and TTX-siLIN28B, focus on treating tumors by targeting PD-L1 and LIN28B, respectively. TransCode also has three cancer-agnostic programs: TTX-RIGA, an RNA–based agonist of the retinoic acid-inducible gene I designed to drive an immune response in the tumor microenvironment; TTX-CRISPR, a CRISPR/Cas9–based therapy platform for the repair or elimination of cancer-causing genes inside tumor cells; and TTX-mRNA, an mRNA-based platform for the development of cancer vaccines designed to...