TransCode Therapeutics faces Nasdaq delisting over bid price and equity deficiencies; hearing Oct 1

Transcode Therapeutics, Inc.

Minimum Bid Price Deficiency Letter received Aug 13; stock below $1.00 for 30 consecutive days through Aug 12.
Not eligible for compliance period due to two reverse stock splits in past two years with cumulative ratio >250:1.
Stockholders' Equity Deficiency Letter received Aug 15; equity at June 30, 2024 was $1,322,274, below $2.5M requirement.
Raised ~$2.4M in July 2024 equity offering; pro forma equity ~$3.7M, but no assurance Staff will accept pro forma.
Nasdaq Hearing Panel will consider appeal on October 1, 2024; delisting action stayed pending decision.

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