TransCode Therapeutics Inc. (NASDAQ: RNAZ) Stock Sees Bullish Move: But Why?

This morning most investors are going to be tracking the TransCode Therapeutics Inc. (NASDAQ: RNAZ) stock in light of the 35% gains it recorded yesterday following a key announcement.

TransCode Therapeutics Completes Initial Dosing of First Cohort in Phase 1 Clinical Trial with TTX-MC138, a microRNA-targeted technology

The company came into focus on Thursday after it announced that it closed all the patients who had been part of the first cohort of its Phase 1a dose escalation clinical trial. TTX MC138, the TransCode Therapeutics lead candidate that was being evaluated, had been developed for the purpose of inhibiting microRNA-10b, a microRNA with a significant role in the onset as well as progression of metastatic cancer.

In the news release, the company revealed that all the patients who had been part of the study were administered their first dose of the product and remained part of the study for ongoing treatment. More importantly, it was noted that no major dose-limiting toxicities or safety-related issues had been reported.

Further Information

The fast enrollment of the first cohort of patients was also seen as a source of encouragement for the company. Additionally, the clinical trials with TTX MC138 could be particularly important given the fact that the Nobel Prize in Physiology and Medicine was recently bestowed on those who had discovered microRNA.

Key Quote

“The rapid enrollment of the first cohort is extremely encouraging. The absence of dose limiting toxicities thus far supports continued dosing and assessment of TTX-MC138 for safety and tolerability,” commented Sue Duggan, TransCode’s Senior Vice President of Operations. Duggan added, “We are excited to be in the clinic with TTX-MC138 on the heels of the recent announcement that this year’s Nobel Prize in Physiology and Medicine was awarded to the discoverers of microRNA. Their work informs the understanding of microRNA’s role in gene regulation, which we believe reflects the potential of TTX-MC138.”