TransCode Therapeutics (RNAZ) Investor presentation summary

TTX-MC138 clinical progress

• Phase 0 imaging in one patient showed TTX-MC138 accumulation in metastatic lesions after a 90 μg radiolabeled microdose; treatment was well tolerated.

• Phase 1a treated 16 patients across 0.8–4.8 mg/kg; no dose-limiting toxicities or clinically significant treatment-related safety signals were reported, and the primary safety endpoint was met.

• Preliminary Phase 1a efficacy: stable disease in 10 of 14 evaluable patients (71.4%); disease control rates of 57.1% at Cycle 3 Day 1 and 35.7% at Cycle 6 Day 1; 3 of 14 remained progression-free at 12 months.

• Phase 1a analysis remained ongoing as 3 patients stayed on study; 62.5% experienced at least one treatment-related adverse event, mostly Grade 1 or 2.

• Enrolling Phase 2a study targets ctDNA-positive colorectal cancer after curative-intent standard therapy; planned single-arm design includes up to 45 patients receiving 4.8 mg/kg every 28 days for 12 cycles, with serial ctDNA monitoring.

Pipeline and platforms

• Three approaches span tumor-targeted RNA therapeutics, cancer vaccine immunotherapy and immuno-oncolytic agents; TTX-MC138 is prioritized for clinical development.

• Seviprotimut-L completed the adaptive Phase 3 MAVIS trial; a planned Phase 3 MELISSA study may serve as a confirmatory trial, with potential FDA Special Protocol Assessment.

• MAVIS subgroup analysis (N=111) showed trends toward longer recurrence-free survival (HR 0.65, 95% CI 0.37–1.17) and overall survival (HR 0.37, 95% CI 0.13–1.06).

• UIO-524 is a preclinical engineered adenovirus armed with CD40L, 4-1BBL and IL-21; development was described as halfway through IND-enabling work, with bladder cancer as an initial focus.

• Preclinical programs include TTX-siPD-L1, which produced 90% pancreatic tumor regression in mice within two weeks when combined with gemcitabine, and TTX-RIGA, a tumor-targeted RIG-I agonist.

Financing and near-term milestones

• Since the 2021 IPO, $100 million net had been invested through financings and grants; Q4 2025 included a $25 million CK Life Sciences investment, and Q2 2026 included a $20 million SEPA with Yorkville Advisors.

• Pro forma capital structure at June 30, 2026 showed 17.149 million shares outstanding, $28.3 million market capitalization and $13.1 million cash and equivalents; pro forma cash included $4.75 million in July convertible-note proceeds.

• TTX-MC138 milestones include Phase 2a site initiation in Q2 2026, enrollment update in Q3, preliminary results in Q4, and enrollment completion and readout targeted for 2H 2027.

• The stated investment focus prioritizes TTX-MC138, potential Seviprotimut-L combination development and advancing preclinical assets, subject to available funding, including grants.