$RNAZ + 133%
Transcode Therapeutics Inc, $RNAZ who is another biotech company, working in the detection and treatment of cancer, announces yesterday a windraw of it’s S-1 filing with the SEC made earlier in November.
The company said than the windrawl reflect the Transcode’s belief that under “current market conditions are not conducive for an offering on terms that would be in the best interests of the company’s stockholders.”
This move looked to be appreciated by the shareholders who showed some interest in the stock today with a solid 114M shares exchanged during the day.
The stock was being the $0, 40 areas yesterday night and open just under $0, 60 and to consistently climb in the $1.15 area and stabilize after a little bit down to finish the day at $0,98.
Here is the graph of the day:
Here is the 30-day graph:
We clearly see than on the 30 day’s graph then it’s a clear uptrend who give some hope to shareholders by a clear step.
The stock is still down if we check on the long-term like you can see in the 120 day’s graph:
For a company who make a IPO in July 2021 at $4 a share, lots of shareholders lose some money considering the solid down trend of the last 2 years but with this news and the solid volume of the day, this stock makes some sparkle today and give lots of people a change to take some profits out of these by playing on the momentum of the day.