Why Transcode Therapeutics (RNAZ) Stock Is Down Nearly 70%
Portfolio Pulse from Henry Khederian
Transcode Therapeutics Inc's (RNAZ) stock has fallen by 69% after the company priced its public offering of 15.7 million shares at $0.51 per share. The company plans to use the proceeds from the offering for clinical trials with TTX-MC138, its lead therapeutic candidate, and for working capital and other general corporate purposes.
September 26, 2023 | 2:38 pm
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Transcode Therapeutics' stock price has dropped significantly due to the pricing of its public offering. This could lead to short-term volatility in the stock.
The significant drop in Transcode Therapeutics' stock price is directly related to the pricing of its public offering. This has increased the supply of shares in the market, which has put downward pressure on the stock price. This could lead to short-term volatility as the market adjusts to the new supply of shares.
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