Oncology company TransCode Therapeutics, Inc. is set to begin publicly trading its equityon the Nasdaq Capital Market today under the symbol “RNAZ.” The company is looking to raise an aggregate sum of US$25.0 million in its initial public offering.
The offering will consist of 6,250,000 common shares priced at US$4.00 per share. The underwriters were also granted a 45-day over-allotment option to purchase an additional 937,500 common shares at the same offering price, bringing the possible proceeds of the offering to US$28.8 million.
In its statement, TransCode refers to itself as an RNA oncology company centered on the belief that cancer can be addressed through RNA therapeutics. Proceeds from the offering will be intended to progress the trial and develop its therapeutic candidate, TTX-MC138, which is focused on treating metastatic cancer.
The offering is expected to close on July 13, 2021, subject to customary closing conditions. Fordham Financial division ThinkEquity acts as the sole underwriter for the offering.
Information for this briefing was found via Sedar and TransCode. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.