TransCode files ABCJ financials; acquired co's accumulated deficit $193M, DEFJ holds 90.8% voting power

Transcode Therapeutics, Inc.

ABCJ (parent of Polynoma) reported 2024 net loss of $16.4M and accumulated deficit of $193M.
Key asset is phase 3-ready seviprotimut-L for melanoma; intangible asset valued at $14M.
Post-acquisition, DEFJ holds ~90.8% voting power on fully diluted basis, raising controlled-company concerns.
Acquisition carries a repurchase option for DEFJ, potentially requiring cash settlement and disrupting operations.
Pro forma combined financial statements for Sep 30, 2025 and Dec 31, 2024 filed as Exhibit 99.3.

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