Emily Bodnar, an analyst from H.C. Wainwright, maintained the Buy rating on TransCode Therapeutics (RNAZ – Research Report). The associated price target remains the same with $20.00.
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Emily Bodnar’s rating is based on the promising progress of TransCode Therapeutics’ Phase 1 trial for TTX-MC138, which targets advanced/metastatic solid tumors. The trial has successfully moved to Cohort 4, with a significant portion of patients remaining on treatment, indicating potential durability and efficacy. The safety profile has been favorable, with no significant adverse effects observed in the patients treated so far, which supports the continuation of dose escalation.
Moreover, the company has reported encouraging results regarding the inhibition of the target microRNA-10b, even at low doses, suggesting the drug’s effectiveness. The ongoing evaluation of tumor size changes and potential biomarker approaches further strengthens the potential of TTX-MC138. The anticipation of initial data presentation at a medical conference and the possibility of pipeline partnerships add to the positive outlook for TransCode Therapeutics, justifying the Buy rating.