TransCode Announces 1-for-20 Reverse Stock Split

(RTTNews) - TransCode Therapeutics, Inc. (RNAZ), a biopharmaceutical company, on Monday, announced a 1-for-20 reverse stock split effective May 23.

The common stock of TransCode will begin trading on a split-adjusted basis on Nasdaq under the current trading symbol 'RNAZ.' The reverse stock split is intended to increase the per share trading price of the common stock which will enable the company to satisfy the minimum bid price requirement for continued listing on Nasdaq.

The reverse split will reduce the number of shares outstanding from approximately 16,998,534 shares to approximately 849,926 shares.

In premarket activity, shares of Transcode were trading at $0.213 down by 24.74% or $0.07 on the Nasdaq.