BOSTON - TransCode Therapeutics, Inc. (NASDAQ: RNAZ) has released preliminary data from its Phase 0 clinical trial indicating that its RNA-based cancer drug, TTX-MC138, shows potential anti-tumor activity. The trial involved a microdose of radiolabeled TTX-MC138, which led to a significant reduction in the molecular target miRNA-10b in a patient's blood, with a decrease of 66% observed 24 hours after dosing.
The study's results are noteworthy as they suggest that TTX-MC138 not only targets miRNA-10b but also accumulates in metastatic tumors, which could be crucial for treating metastatic cancers. Chief Scientific Officer Dr. Zdravka Medarova expressed optimism about the data, linking the inhibition of miRNA-10b to complete regressions of metastatic disease in animal models.
Chief Medical Officer Dr. Daniel Vlock highlighted the drug's tolerability, with no adverse events reported, and the implications for a broader therapeutic window than previously anticipated. The company is planning a Phase 1 clinical study to further investigate the treatment's efficacy.
TransCode Therapeutics specializes in RNA therapeutics for oncology, with a focus on metastatic disease. Its TTX nanoparticle platform is designed to deliver RNA-based treatments effectively. The lead therapeutic candidate, TTX-MC138, targets metastatic tumors that overexpress microRNA-10b.
The company's portfolio includes several first-in-class RNA therapeutic candidates aimed at novel genetic targets for various cancers. The full data analysis from the Phase 0 trial is still underway and will be included in the final study report.
This announcement contains forward-looking statements regarding the potential of TTX-MC138 and other therapeutic candidates. However, these statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially.
The information in this article is based on a press release statement from TransCode Therapeutics, Inc.
InvestingPro Insights
Amidst the promising preliminary results from TransCode Therapeutics' Phase 0 clinical trial for its RNA-based cancer drug, TTX-MC138, financial metrics and market performance provide additional context for potential investors. According to real-time data from InvestingPro, TransCode Therapeutics holds a market capitalization of $12.85 million, reflecting the size and scale of the company in the biotechnology industry.
Investors eyeing the stock's recent performance will note the significant price volatility, with a one-week total return of 34.72% and a dramatic one-month price total return of 230.49%. These sharp movements underscore the stock's high-risk, high-reward nature, which is further illustrated by the fact that TransCode Therapeutics does not pay a dividend to shareholders, as per InvestingPro Tips.
Despite these strong short-term returns, the company's long-term financial health raises concerns. TransCode has been quickly burning through cash, and analysts do not expect the company to be profitable this year. Moreover, with a negative return on assets of -264.82% over the last twelve months as of Q1 2024, the company's efficiency in using its assets to generate earnings appears to be under pressure. However, on a positive note, the company holds more cash than debt on its balance sheet, which could provide some financial flexibility as it continues its clinical trials.
For those considering an investment in TransCode Therapeutics, it's worth noting that there are over 15 additional InvestingPro Tips available at https://www.investing.com/pro/RNAZ. These tips could provide further insights into the company's financial health and market performance. To access these insights, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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