Why TransCode Therapeutics Stock Is Trading Higher Today

TransCode Therapeutics Inc RNAZ shares are trading higher Thursday after the company announced it received written authorization from the FDA to proceed with its First-in-Human Phase 0 clinical trial.

What To Know: TransCode's planned clinical trial will evaluate the company's lead therapeutic candidate, TTX-MC138, in up to 12 cancer patients with advanced solid tumors. ​

TTX-MC138 is designed to inhibit the pro-metastatic RNA, microRNA-10b, described as the master regulator of metastasis in a number of advanced solid tumors. TransCode believes TTX-MC138 could be used as a treatment for many of these cancers.

"The delivery of RNA therapeutics to sites other than the liver has remained a significant challenge for decades. Overcoming this challenge would represent an unprecedented step in unlocking therapeutic access to a variety of well documented genetic targets involved in a range of cancers and beyond," said Michael Dudley, co-founder and CEO of TransCode.

TransCode is an RNA oncology company founded on the belief that cancer can be more effectively treated using RNA therapeutics.

See Also: Kala Pharmaceuticals Stock Continues To Soar: What's Going On?

RNAZ Price Action: TransCode has a 52-week high of $3.13 and a 52-week low of 28 cents.

The stock was up 19.9% at 73 cents at time of publication, according to Benzinga Pro.

Photo: Konstantin Kolosov from Pixabay.