Why TransCode Therapeutics (RNAZ) Shares Are Trading Higher Today - TransCode Therapeutics (NASDAQ:RNAZ)

TransCode Therapeutics Inc RNAZ reported positive preclinical results with its lead candidate, TTX-MC138, in pancreatic adenocarcinoma.
In the study, mice bearing human pancreatic tumors implanted in their pancreas were treated once weekly for ten weeks with TTX-MC138.
The drug demonstrated a pharmacodynamic response by successfully inhibiting its target, microRNA-10b (miR-10b).
Serum miR-10b, a possible surrogate biomarker of therapeutic efficacy, was down-regulated by TTX-MC138 in this study.
40% of animals treated with TTX-MC138 had complete responses, defined as complete regression of disease and long-term survival without recurrence.
Additional studies to better define the optimal dose and therapeutic window in pancreatic cancer are ongoing.
"TTX-MC138 has already been shown to induce durable regression of metastatic breast cancer in murine models," commented Zdravka Medarova, co-founder and CTO of TransCode.
TransCode expects that its cash of $13.4 million as of June 30, 2022, is sufficient to fund planned operations into the first quarter of 2023 but not for a full 12 months from the date of its financial statements.
Price Action: RNAZ shares are up 19% at $1.29 on the last check Wednesday.