TransCode receives two Nasdaq deficiency notices; faces potential delisting

Transcode Therapeutics, Inc.

On Aug 13, 2024, Nasdaq notified TransCode of minimum bid price deficiency; stock closed below $1.00 for 30 consecutive days.
On Aug 15, 2024, Nasdaq notified of stockholders' equity deficiency; reported equity $1.32M vs $2.5M minimum.
Company is ineligible for 180-day compliance period due to two reverse stock splits in prior 2 years with cumulative ratio >250:1.
Company intends to request a hearing before Nasdaq Hearings Panel to stay any suspension/delisting action.
Pro forma equity with $2.4M July 2024 offering is ~$3.7M, but Staff acceptance is uncertain.

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