TransCode retains Tungsten Advisors for strategic review of oncology portfolio

TransCode Therapeutics, Inc. (Nasdaq: RNAZ) said on October 28, 2026 that its Board of Directors has initiated a formal strategic process to evaluate opportunities designed to maximize the value of the Company and its oncology portfolio, including its lead product candidate, TTX-MC138.¹

Potential opportunities may include a licensing or sale of individual assets, development and commercialization partnerships, portfolio transactions, business combinations or other strategic transactions.¹ TransCode has engaged Tungsten Advisors as the Company's exclusive strategic financial advisor in connection with the process.¹

TTX-MC138 is an investigational RNA-based therapeutic designed to inhibit microRNA-10b (miR-10b), which is implicated in metastatic cancer cell survival and disease progression.¹ The program is being evaluated in a Phase 2a trial in patients with circulating tumor DNA (ctDNA)-positive colorectal cancer following curative-intent therapy, in collaboration with Quantum Leap Healthcare Collaborative under its PRE-I-SPY program.¹ The Phase 2a trial is designed to evaluate TTX-MC138 in up to 45 patients with colorectal cancer who have completed curative-intent treatment and have no radiographic evidence of disease but remain or become ctDNA-positive, indicating minimal residual disease.¹

In earlier-stage data, its Phase 1a dose-escalation study in patients with advanced solid tumors met its primary safety endpoint, with no dose-limiting toxicities reported across the evaluated dose levels.¹ In the Company's September 2026 update, 10 of 14 efficacy-evaluable patients achieved stable disease as their best overall response by investigator assessment, though these preliminary findings require confirmation in larger studies.¹

On trial enrollment support, on October 13, 2026, TransCode and Natera, Inc. announced a collaboration to support enrollment in the Phase 2a trial, under which TransCode will use Natera's Signatera test to identify patients who have completed curative-intent therapy and test positive for molecular residual disease despite having no radiographic evidence of disease.¹

The company cautioned that there can be no assurance that the strategic process will result in any transaction or other strategic outcome, and TransCode does not intend to provide updates on the process unless and until its Board of Directors approves a specific transaction or course of action, or the Company otherwise determines that disclosure is appropriate or required.¹