Promising Phase 0 Results and Upcoming Trial Boost Confidence in TransCode Therapeutics

TransCode Therapeutics (RNAZ – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Emily Bodnar from H.C. Wainwright maintained a Buy rating on the stock and has a $3.00 price target.

Emily Bodnar’s rating is based on promising early results and future clinical trial prospects for TransCode Therapeutics. The company’s Phase 0 study showed positive outcomes, demonstrating the stability and targeted delivery of TTX-MC138 to metastatic lesions in advanced solid tumors, with significant inhibition of the microRNA-10b target. These preliminary results are consistent with preclinical data and suggest potential for the drug’s efficacy with limited impact on normal tissue.

Furthermore, the anticipation of a Phase 1 study to commence in mid-2024 also contributes to the Buy rating. The planned study aims to establish the safety and maximum tolerated dose of TTX-MC138, with a focus on patients with prior surgical resection of primary tumors. The innovative Bayesian Optimal Interval design of the trial is expected to provide a more efficient assessment of the optimal dose. Positive results from the Phase 0 study in delivering the drug to tumor sites increase confidence in the potential for therapeutic benefits at higher dosing levels in the upcoming Phase 1 trial.

Bodnar covers the Healthcare sector, focusing on stocks such as NovoCure, Purple Biotech, and Ventyx Biosciences. According to TipRanks, Bodnar has an average return of 15.0% and a 38.92% success rate on recommended stocks.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

TransCode Therapeutics (RNAZ) Company Description:

TransCode Therapeutics Inc is an RNA oncology company. It is created to defeat the cancer through the intelligent design and effective delivery of RNA therapeutics. The company’s lead therapeutic candidate, TTX-MC138, is focused on treating metastatic cancer, which has the potential to produce regression without recurrence in a range of cancers, including breast, pancreatic, ovarian and colon cancer, glioblastomas and others.