By Josh Beckerman
TransCode Therapeutics shares were recently down 49% to $1.10 after the pricing of a $7.25 million public offering.
Shares fell to a 52-week low Thursday morning after the RNA oncology company announced the offer and posted additional declines after the pricing. The offering of 5.94 million shares or stock equivalents, and 11.89 million warrants, had a combined offering price of $1.22 per share and accompanying warrants. The offer size was increased from the amounts detailed in a securities filing.
Trading volume was more than 1.9 million shares, compared with a 65-day average of 140,218.
Last week, TransCode announced a 1-for-40 reverse stock split said Michael Dudley, co-founder and chief executive, would retire as part of its previously disclosed restructuring.
Write to Josh Beckerman at [email protected]
Read the full article here
