Delisting risk
RNAZ · NASDAQ · Biotechnology

TransCode Therapeutics (RNAZ)

Develops RNA-delivery and immuno-oncology candidates for metastatic and other cancers.

$2.01
At close−0.05 (−2.43%)
Loading prices…

TransCode Therapeutics, Inc.RNAZHealth Care

Develops RNA-based and immuno-oncology candidates, led by a program designed to deliver an antisense therapy to metastatic tumors. It has no approved products or sales and relies on external financing, collaborators, and outsourced manufacturing to advance its portfolio.

Develops RNA-based oncology candidates designed to deliver therapeutics systemically to metastatic tumors, centered on TTX-MC138, an antisense RNA candidate in its clinical portfolio. The portfolio also includes seviprotimut-L, an investigational melanoma vaccine, additional TTX RNA programs, and licensed preclinical oncolytic-immunotherapy candidates.

Operates as a single clinical-stage business with no approved products or commercial revenue, using external capital to fund development. A small U.S. workforce works with U.S. clinical collaborators, while manufacturing is outsourced to European contract manufacturers. Progress depends on clinical-trial execution and regulatory review, manufacturing scale-up, licensed intellectual-property rights, continued financing, and Nasdaq listing compliance.

Company facts

CEOPhilippe P. Calais, PharmD, PhD
ListedJul 9, 2021
ExchangeNASDAQ
HeadquartersBoston, MA
CountryUnited States
Employees12
CIK0001829635
ISINUS89357L5012

Market cap$2.1M
EPS (ttm)−$50.69
P/E (ttm)−0.0397
ROE-58.1%
P/B0.0136
P/S0.00
Dividend yieldDiv yield
Beta0.77vs XLV 0.13

No analyst consensus on record.

Next report
Nov 18, 2026
in 76 days
EPS estimate
Revenue estimate
Fiscal quarter
Q3 FY26

EPSReportedEstimate

Mar '25May '25Aug '25Nov '25Apr '26May '26Aug '26Nov '26
Reported−$16.61−$16.81−$4.94−$5.49−$16.42−$21.28−$7.17Pending
Estimate−$105.93−$3.21−$8.68−$9.24−$10.08
Surprise+84.3%−423.7%+43.1%+40.6%−62.9%

RevenueReportedEstimate

Mar '25May '25Aug '25Nov '25Apr '26May '26Aug '26Nov '26
ReportedPending
Estimate$300.0K$300.0K
Surprise
Estimate
ReportedDue Nov 18, 2026
Estimate
ReportedDue Nov 18, 2026
View details

Debt to equity0.50%
Current ratio197.10%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$0$0$0$0$0$0$0$0
Net income−$2.3M−$5.9M−$12.1M−$4.3M−$4.9M−$13.4M−$17.8M−$6.7M
Net margin

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income−$2.2M−$5.1M−$3.2M−$4.2M−$4.6M−$16.0M−$7.3M−$6.8M
YoY growth

Balance sheet, Jun 30, 2026Cash & short-term investments $8.4M · Total debt $652.4K · Total assets $151.0M · Shareholders' equity $138.4M

Revenue
$0
Operating income
−$6.8M
Net income
−$6.7M
View details

No dividends on record.

Institutions7 holders · as of Mar 31, 20260.18%30.9K shares
Otherremainder99.82%16.90M shares

16.93M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing

Two share counts disagree (16.93M in the company's Sep 3, 2026 report, 1.06M elsewhere); stakes use the report.

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesEvidence
Geode Capital Management, LLCInstitution
0.08%12,74013Fas of Mar 31, 2026
UBS Group AGInstitution
0.05%8,29513Fas of Mar 31, 2026
Vanguard Capital Management LLCInstitution
0.04%6,54513Fas of Mar 31, 2026
Vanguard Fiduciary Trust CoInstitution
0.02%2,98213Fas of Mar 31, 2026
Tower Research Capital LLC (TRC)Institution
0.00%22813Fas of Mar 31, 2026
See all 23

13F — a manager's quarterly holdings

Insider tradesForm 4

No open-market trades in the last 12 months.

View details

  • Merck

    Approved adjuvant melanoma therapy and personalized mRNA-vaccine threat.

  • Bristol-Myers Squibb

    Approved adjuvant melanoma and urothelial-cancer checkpoint therapy.

  • Moderna

    Late-stage personalized mRNA vaccine for resected high-risk melanoma.

  • BioNTech (ADR)

    Clinical mRNA immunotherapy for advanced melanoma.

  • AstraZeneca (ADR)

    Approved perioperative PD-L1 therapy for muscle-invasive bladder cancer.

  • Arrowhead Pharmaceuticals

    RNAi platform peer with a clinical renal-cancer program.

Compare

CompanyPriceChange
TransCode Therapeutics$2.01−2.43%$2.1M
Merck$151.14−0.33%$374.52B121.317.65.6+5.1%
Bristol-Myers Squibb$67.38−0.40%$138.21B14.910.62.8+5.7%
Moderna$147.30−2.34%$59.84B26.9+2.1%
BioNTech (ADR)$104.00+0.22%$26.08B8.5−60.7%
AstraZeneca (ADR)$163.48+1.13%$250.67B24.315.24.1+6.4%
Arrowhead Pharmaceuticals$85.13−0.30%$12.02B18.0+171.0%
Median24.315.27.1+5.4%