Transcode Therapeutics, Inc. RNAZ

Healthcare SIC 2834 - Pharmaceutical Preparations Nasdaq

TransCode is a clinical-stage company pioneering immuno-oncology and RNA therapeutics for treatment of high risk and advanced cancers. Our lead therapeutic product candidate is TTX-MC138, an antisense inhibitor of an oncogenic microRNA. TTX-MC138 has recently completed a Phase 1a clinical trial. In addition to other RNA-targeted product candidates, we are conducting research and development of a cancer vaccine product candidate and an oncolytic immunotherapy platform.

Polynoma Acquisition. On October 8, 2025, we entered into a Membership Interest Purchase Agreement (the "Purchase Agreement") with DEFJ, LLC, a Delaware limited liability company, ("DEFJ") pursuant to which we acquired 100% of the issued and outstanding membership interests of ABCJ, LLC, a Delaware limited liability company, ("ABCJ") (such transaction, the "Acquisition"). In the Acquisition, we issued 1,152.9568 shares of our Series A Non-Voting Convertible Preferred Stock (the "Series A Preferred Stock") to DEFJ. Each share of Series A Preferred Stock is convertible into 10,000 shares of common stock. Prior to the Acquisition, ABCJ was a wholly owned subsidiary of DEFJ and an indirect wholly owned subsidiary of CK Life Sciences Int'l., (Holdings) Inc., a listed entity on the Main Board of the Hong Kong Stock Exchange.

Last close 2.06 2026-09-04
Market cap $34.9M 2026-06-30 share count
52-week range 1.83 - 20.99

Valuation FY2025 figures against the last close

P/S
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-52.59

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
R&D $13.4M$9.7M$12.3M$10.2M$2.8M$284.5K
SG&A $5.8M$6.0M$7.2M$8.4M$3.4M$442.1K
Total operating expenses $28.0M$15.7M$19.4M$18.6M$6.2M$726.6K
Operating income -$28.0M-$15.7M-$19.4M-$18.6M-$6.2M-$726.6K
Interest expense $6.6K$26.8K$55.9K$32.0K$95.1K$394.6K
Pre-tax income -$34.4M-$16.8M-$18.5M-$17.6M-$6.8M-$2.3M
Income tax $226.1K$0$0$0$53.1K$0
Net income -$34.7M-$16.8M-$18.5M-$17.6M-$6.8M-$2.3M
EPS, basic -52.59-1,336.63-3,419.01-1,082.79-0.81-0.51
EPS, diluted -52.59-1,336.63-3,419.01-1,082.79-0.81-0.51
Shares, diluted (wtd. avg.) $689.7K$12.6K$5.4K$16.2K$8.4M$4.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Cash and equivalents $17.8M$5.8M$2.8M$5.0M$20.8M$828.0K$204.5K
Total current assets $22.0M$7.1M$4.5M$7.4M$22.7M$831.2K
Property, plant and equipment $370.7K$51.6K$120.7K$208.6K$206.3K
Goodwill $25.7M
Other intangibles $114.3M
Total assets $162.4M$7.3M$5.2M$7.6M$22.9M$1.1M
Accounts payable $3.5M$2.7M$3.1M$4.3M$2.5M$369.2K
Total current liabilities $3.5M$2.8M$3.5M$4.3M$2.5M$404.9K
Total liabilities $10.5M$9.3M$3.5M$4.3M$2.5M$4.5M
Retained earnings -$97.9M-$63.2M-$46.4M-$27.9M-$10.3M-$3.5M
Total equity $10.3M-$2.0M$1.6M$3.2M$20.4M-$3.4M-$1.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Operating cash flow -$19.5M-$13.3M-$18.1M-$15.8M-$5.3M-$493.0K
Depreciation and amortisation $76.4K$90.9K$123.5K$98.6K$42.5K$0
Stock-based compensation $485.4K$1.7M$1.0M$395.3K$186.0K$45.4K
Capital expenditure $6.7K$21.8K$35.6K$100.9K$254.8K
Investing cash flow -$4.4K-$21.8K-$35.6K-$100.9K-$251.8K
Financing cash flow $31.5M$16.4M$15.9M$6.0K$25.5M$1.1M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-052941.

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