(RTTNews) - TransCode Therapeutics Inc. (RNAZ) announced the pricing of a public offering of 10 million shares of its common stock at a public offering price of $0.30 per share, for expected gross proceeds of $3 million, before deducting placement agent commissions and offering expenses.
The offering is expected to close on July 24, 2024, subject to satisfaction of customary closing conditions.
The company plans to use the net proceeds from the offering primarily for product development activities, including one or more clinical trials with TTX-MC138, its lead therapeutic candidate, and related investigational new drug (IND) enabling studies, and for working capital and other general corporate purposes.
ThinkEquity is acting as the sole placement agent for the offering.
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