TransCode Therapeutics, Inc. (NASDAQ:RNAZ), a leading biotechnology company focusing on RNA-based cancer therapies, has announced a significant corporate action. On May 15, 2025, the company will execute a 1-for-28 reverse stock split. This strategic move aims to consolidate 28 shares into one, fundamentally altering the trading dynamics of its stock on the Nasdaq Capital Market.
The reverse stock split was approved by TransCode’s Board of Directors and its stockholders on May 2, 2025. This decision is primarily aimed at boosting the per-share trading price of RNAZ, a critical step towards satisfying the Nasdaq Capital Market’s minimum bid price requirement. This requirement is essential for the company to maintain its listing on the exchange. However, it’s important to note that achieving the reverse stock split does not guarantee that TransCode will meet all the Nasdaq listing requirements.
Currently, RNAZ is trading at $0.281, marking a 20.89% decrease, with a change of $0.0742. The stock has been volatile, with a daily trading range between $0.2803 and $0.3564. Over the past year, RNAZ has experienced a high of $66.33 and a low of $0.22, showcasing significant market performance fluctuations.
TransCode’s market capitalization stands at approximately $6.56 million, with a trading volume of 1,362,163 shares on the NASDAQ exchange. The upcoming reverse stock split is anticipated to influence these figures by reducing the number of shares outstanding, which could potentially increase the stock’s price and alter its market cap dynamics.
