TransCode Therapeutics Implements 1-for-28 Reverse Stock Split to Maintain Nasdaq Compliance

TransCode Therapeutics, a clinical-stage RNA oncology company, will implement a 1-for-28 reverse stock split effective May 15, 2025, to maintain compliance with Nasdaq's minimum bid price requirement. The strategic financial maneuver will reduce the company's outstanding common stock from approximately 23.3 million shares to about 833,620 shares.

The reverse stock split, approved by both shareholders and the board of directors, aims to elevate the company's per-share price. When trading resumes on May 15, shares will continue to trade under the existing ticker symbol 'RNAZ' but at a proportionally adjusted price. No fractional shares will be issued, with amounts rounded up to the nearest whole share.

Vstock Transfer LLC will serve as the exchange agent for the stock split, and the company will have a new CUSIP number of 89357L 501. This action represents a common financial strategy for companies seeking to meet stock exchange listing requirements and potentially improve investor perception.

TransCode Therapeutics, focused on developing RNA therapeutics to treat cancer, is leveraging this corporate action to maintain its position on the Nasdaq exchange. The company's lead therapeutic candidate, TTX-MC138, targets metastatic tumors that overexpress microRNA-10b, highlighting its innovative approach to cancer treatment.

The reverse stock split demonstrates the company's commitment to maintaining its public listing and providing stability for shareholders while continuing to advance its RNA therapeutic platform. By reducing the number of outstanding shares, TransCode aims to potentially increase investor confidence and meet critical exchange listing standards.