TransCode Therapeutics (NASDAQ:RNAZ) stock is taking a beating on Friday after the oncology company announced plans for a public share offering.
TransCode Therapeutics hasn’t yet revealed details of the proposed public stock offering. That means we don’t know how many shares will be offered or what they will be priced at.
However, TransCode Therapeutics notes that it will include a 45-day offer for underwriters to acquire another 15% of the shares included in the offering. Investors will note that ThinkEquity is acting as the sole book-running manager for the offering.
RNAZ Stock Delisting Update
Another bit of new news today includes an update on the potential delisting of RNAZ stock. The Nasdaq Hearings Panel has approved an extension that would give the company more time to avoid delisting.
With this extension, TransCode Therapeutics now has until Jan. 22, 2024, to regain compliance with listing standards. It also has to present the panel with a plan for how it will achieve this.
RNAZ stock is down 25.2% as of Friday morning and is down 96.8% year-to-date as of yesterday’s close.
Investors seeking out even more of the most recent stock market news for Friday will want to stick around!
We’re offering up all of the hottest stock market stories that traders need to read about today. A few examples include why shares of Apollomics (NASDAQ:APLM) and NKGen Biotech (NASDAQ:NKGN) stock are up today, as well as the biggest pre-market stock movers this morning. You can catch up on all of these matters down below!
More Friday Stock Market News
- Why Is Apollomics (APLM) Stock Up 113% Today?
- Why Is NKGen Biotech (NKGN) Stock Up 18% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
