Why Is TransCode Therapeutics (RNAZ) Stock Up 30% Today?

Source: shutterstock.com/Champhei

It is truly a monumental day for TransCode Therapeutics (NASDAQ:RNAZ) stock. That’s because the company just disclosed the preclinical results of its proposed treatment for pancreatic cancer. The results were largely positive and RNAZ stock traders responded earlier today with an epic buying spree.

Headquartered in Boston, TransCode is a tiny biotechnology company with a market capitalization of around $17 million. It focuses on RNA-based therapeutics to treat solid tumors.

TransCode’s lead therapeutic candidate is known as TTX-MC138 and is designed to treat metastatic cancers. The company’s website suggests that human studies for TTX-MC138 are planned for the second half of 2022. However, we’re already in late October, so this might not actually occur during the expected time frame.

Still, there’s good news to report. Today, TransCode Therapeutics showed positive preclinical results for TTX-MC138 in an animal study targeting pancreatic adenocarcinoma.

What’s Happening With RNAZ Stock?

Suffice it to say, RNAZ stock shot up right out of the gate today, heading 30% higher within the first half hour of the trading session. The share price has retreated somewhat since, but shares remain firmly in the green as of this writing. RNAZ stock is up more than 15%.

Clearly, investors are pleased with TransCode’s announcement. Reportedly, 40% of the mice treated with TTX-MC138 in TransCode Therapeutics’ preclinical study “had complete responses, defined as complete regression of disease and long-term survival without recurrence.”

Granted, this result with mice doesn’t guarantee a similar outcome with humans. Nevertheless, the result is positive, so there may be greater implications here. As TransCode co-founder and CTO Zdravka Medarova puts it, TTX-MC138 “could ultimately improve clinical outcomes in human patients.”

TransCode Therapeutics co-founder, President and CEO Michael Dudley also made an important announcement in the release. Apparently, the company is “on track to submit an exploratory Investigational New Drug Application (eIND) this year” for a “planned Phase 0 first-in-human (FIH) clinical trial with TTX-MC138 in cancer patients with advanced solid tumors.”

So, maybe the human trial will actually happen before the end of 2022, as promised. One thing we can say for sure, though, is that RNAZ stock is printing money today for loyal investors.

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On the date of publication, David Moadel did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.

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