TransCode Therapeutics, a company focused on treating cancer using RNA therapeutics, has announced the initial dosing of the first patient in Cohort 4 of its Phase 1 clinical trial. The treatment under evaluation, TTX-MC138, is TransCode's main candidate and is designed to inhibit microRNA-10b, which plays a crucial role in the development and progression of metastatic cancer. Two additional patients in Cohort 4 are scheduled to receive TTX-MC138.

In Friday's pre-market session, several healthcare stocks saw significant movement. Portage Biotech's (PRTG) stock rose by 158.8% to $12.19, bringing the market value of its outstanding shares to $20 million. Lexicon Pharmaceuticals (LXRX) saw a 106.53% increase in its stock to $0.72, with a market cap of $259.5 million. DBV Technologies (DBVT) shares also rose by 61.12% to $6.3, and its market cap is $129.2 million. Prelude Therapeutics (PRLD) shares rose by 17.14% to $0.8, with a market cap of $44 million. Lastly, TransCode Therapeutics' (RNAZ) stock moved up 15.59% to $0.

Transcode Therapeutics (RNAZ) has seen a 62% drop in its stock price following the announcement of a public offering of 10 million shares at $0.30 per share. The company hopes to raise $3 million from this offering, which will be used to fund product development and clinical trials for their leading therapeutic candidate.

TransCode Therapeutics, Inc. has entered into an agreement with ThinkEquity LLC to issue and sell 10,250,000 shares of its common stock and an equal number of Common Warrants at an aggregate offering price of $0.98 per share and accompanying Common Warrant. As a part of the compensation for its role as placement agent, ThinkEquity LLC will also receive warrants to purchase 512,500 shares of TransCode Therapeutics' common stock.

1) Brief Summary: The company under review has been under significant financial strain as seen by its short-term performance metrics. It has experienced a steep drop in performance over the past month (-71.41%) and quarter (-85.04%), and a decrease in average volume. The company has a negative Return on Equity (-490.03%) and Return on Investment (-903.45%). It also recorded no sales for the past 5 years and has a high debt/equity ratio (0.09). In addition, the company has been running at a loss with a net income of -$17,905,135.0. The company's total assets have also decreased from Q1 2024 to Q2 2024, and there has been a significant decrease in its net cash flow. 2) MARKET_SCORE: 10

: Given the company's poor financial health and negative performance metrics, there is a 10% likelihood of an upward move in the market. 3) PRICE_TARGET: $0.30

: Considering the company's current financial state, the high today might be 50% lower than the current price of $0.587716, making the target price $0.30. 4) AI_RPT_HEADLINE: "Company's Downward Spiral Continues Amidst Major Financial Strain"

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