Why TransCode Therapeutics (RNAZ) Shares Are Trading Higher Today

Why TransCode Therapeutics (RNAZ) Shares Are Trading Higher Today
  • TransCode Therapeutics Inc RNAZ reported preclinical proof-of-mechanism studies with its immunotherapy candidate, TTX-RIGA, in melanoma.
  • TTX-RIGA, a novel immunotherapeutic cancer candidate, is designed to work by binding to an intracellular receptor called RIG-I (retinoic acid-inducible gene I), expected to result in targeted activation of innate immunity in the tumor microenvironment
  • In preclinical studies, TransCode's delivery of TTX-RIGA inside tumors and metastases generated an RNA-based agonist of the RIG-I gene, targeting the activation of innate immunity in the tumor microenvironment in multiple solid tumors.
  • "As with prior studies, we believe the data from this preclinical study further support the advancement of TTX-RIGA into animal studies slated to begin in February 2023," commented Zdravka Medarova, co-founder & CTO of TransCode. 
  • "We believe that demonstrating successful preclinical results with TTX-RIGA is an important step in the preclinical development process and further de-risks our pipeline that includes multiple RNA approaches," added Michael Dudley, co-founder, president, and CEO of TransCode.
  • Dudley added, "we received written authorization from the FDA to proceed with our Phase 0 first-in-human (FIH) clinical trial with our lead candidate, TTX-MC138, in cancer patients with advanced solid tumors. We intend to proceed with patient enrollment as soon as possible."
  • Price Action: RNAZ shares are up 43.90% at $1.08 during the premarket session on the last check Wednesday.

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