TransCode Therapeutics, Inc.
RNAZHealthcare|Biotechnology|US
$1.49
-0.02 (-1.32%)
DCF Value
$26.00
Cash / Share
$8.95
Financials
Financial Snapshot
Market Cap
$1.6M
Enterprise Value
-$6.2M
Revenue (TTM)
$0.00
Net Income (TTM)
-$42.8M
Cash & Investments
$8.4M
Net Cash
$7.7M
Free Cash Flow (TTM)
-$5.00B
Operating CF (TTM)
-$5.00B
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$8.4M
Quarterly Burn
$1.25B
Monthly Burn
$416.3M
Est. Runway
~0.0 quarters
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $213.0K | $204.5K | $828.0K | $20.8M | $5.0M | $2.8M | $5.8M | $17.8M | $8.4M | |
| Operating Cash Flow | -$299.6K | -$508.5K | -$493.0K | -$5.3M | -$15.8M | -$18.1M | -$13.3M | -$19.5M | -$5.00B | |
| Free Cash Flow | -$299.6K | -$508.5K | -$493.0K | -$5.5M | -$15.9M | -$18.1M | -$13.4M | -$19.5M | -$5.00B | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | -$254.8K | -$100.9K | -$35.6K | -$21.8K | -$6.7K | -$6.7K | |
| Financing Cash Flow | $512.4K | $500.0K | $1.1M | $25.5M | $6.0K | $15.9M | $16.4M | $31.5M | $23.6M |
R&D Spending
R&D (TTM)
$5.12B
R&D Intensity
—
R&D Growth vs Prior
+38041.4%
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $82.5K | $226.3K | $284.5K | $2.8M | $10.2M | $12.3M | $9.6M | $13.4M | $5.12B | |
| SG&A | $301.5K | $230.6K | $442.1K | $3.4M | $8.3M | $6.6M | $5.5M | $5.8M | $2.23B |
Income Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $42.5K | $98.6K | $516.7K | $534.9K | $0.00 | $52.7K | |
| Gross Profit | $0.00 | $0.00 | $0.00 | -$42.5K | -$98.6K | -$516.7K | -$534.9K | $0.00 | -$52.7K | |
| R&D | $82.5K | $226.3K | $284.5K | $2.8M | $10.2M | $12.3M | $9.6M | $13.4M | $5.12B | |
| SG&A | $301.5K | $230.6K | $442.1K | $3.4M | $8.3M | $6.6M | $5.5M | $5.8M | $2.23B | |
| Operating Income | -$384.0K | -$456.9K | -$726.6K | -$6.2M | -$18.7M | -$19.4M | -$15.7M | -$28.0M | -$34.7M | |
| Interest Expense | $0.00 | $157.0K | $394.6K | $95.1K | $17.6M | $55.9K | $26.8K | $6.6K | $6.5K | |
| Pretax Income | -$453.4K | -$607.2K | -$2.3M | -$6.8M | -$17.6M | -$18.5M | -$16.8M | -$34.4M | -$42.4M | |
| Net Income | -$453.4K | -$607.2K | -$2.3M | -$6.8M | -$17.6M | -$18.5M | -$16.8M | -$34.7M | -$42.8M | |
| EPS (Diluted) | -2359.09 | -72.00 | -293.76 | -648.00 | -1080.00 | -3453.53 | -47.14 | -52.59 | -50.69 | |
| EBITDA | $0.00 | -$450.2K | -$1.9M | -$6.7M | -$17.5M | -$18.0M | -$16.2M | -$34.3M | -$42.3M | |
| Shares Out. (M) | 0.00 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.36 | 0.69 | 0.94 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $213.0K | $204.5K | $828.0K | $20.8M | $5.0M | $2.8M | $5.8M | $17.8M | $8.4M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $214.6K | $204.5K | $831.2K | $22.7M | $7.4M | $4.5M | $7.1M | $22.0M | $10.6M | |
| Total Assets | $214.6K | $216.7K | $1.1M | $22.9M | $7.6M | $5.2M | $7.3M | $162.4M | $151.0M | |
| Total Current Liabilities | $117.7K | $62.9K | $404.9K | $2.5M | $4.3M | $3.5M | $2.8M | $3.5M | $5.4M | |
| Long-Term Debt | $436.2K | $927.8K | $2.1M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $718.6K | $1.3M | $4.5M | $2.5M | $4.3M | $3.5M | $9.3M | $152.1M | $12.7M | |
| Stockholders' Equity | -$504.0K | -$1.1M | -$3.4M | $20.4M | $3.2M | $1.6M | -$2.0M | $10.3M | $138.4M | |
| Retained Earnings | -$510.8K | -$1.1M | -$3.5M | -$10.3M | -$27.9M | -$46.4M | -$63.2M | -$97.9M | -$122.4M |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$299.6K | -$508.5K | -$493.0K | -$5.3M | -$15.8M | -$18.1M | -$13.3M | -$19.5M | -$5.00B | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | -$254.8K | -$100.9K | -$35.6K | -$21.8K | -$6.7K | -$6.7K | |
| Free Cash Flow | -$299.6K | -$508.5K | -$493.0K | -$5.5M | -$15.9M | -$18.1M | -$13.4M | -$19.5M | -$5.00B | |
| Investing Cash Flow | $0.00 | $0.00 | $0.00 | -$251.8K | -$100.9K | -$35.6K | -$21.8K | -$4.4K | -$4.4K | |
| Financing Cash Flow | $512.4K | $500.0K | $1.1M | $25.5M | $6.0K | $15.9M | $16.4M | $31.5M | $23.6M | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | $26.3M | $6.0K | $15.9M | $16.4M | $8.9M | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $550.0K | $500.0K | $1.2M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $950.0K | |
| Stock Based Comp. | $22.4K | $1.4K | $45.4K | $186.0K | $395.3K | $0.00 | $1.7M | $485.4K | -$95.7M | |
| Net Change in Cash | $212.9K | -$8.5K | $623.5K | $20.0M | -$15.9M | -$2.2M | $3.0M | $12.0M | -$4.97B |
Dilution Tracker
Shares outstanding grew 8544.1% over 5 years — significant dilution
Shares Outstanding
1M
5-Year Share Growth
+8544.1%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.00 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.36 | 0.69 | 0.94 | |
| Change vs Prior % | — | 3237.0% | 24.5% | 32.0% | 54.0% | -66.6% | 6465.5% | 93.7% | 35.9% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | $26.3M | $6.0K | $15.9M | $16.4M | $8.9M | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $22.4K | $1.4K | $45.4K | $186.0K | $395.3K | $0.00 | $1.7M | $485.4K | -$95.7M |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 90.0% | 55.3% | 68.8% | -33.5% | -542.0% | -1130.3% | 830.0% | -335.4% | -58.1% | |
| ROA % | -211.3% | -280.2% | -222.1% | -29.8% | -231.5% | -358.7% | -229.7% | -21.3% | -28.3% | |
| ROIC % | -289.5% | -297.1% | -111.7% | -30.1% | -576.0% | -928.5% | -343.4% | -17.6% | -23.7% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | 0.0% | -132.2% | -424.1% | -3.5% | 100.0% | |
| Operating Income | 0.0% | -19.0% | -59.0% | -746.6% | -203.5% | -4.0% | 19.4% | -78.7% | |
| Net Income | 0.0% | -33.9% | -286.0% | -192.0% | -156.7% | -5.6% | 9.7% | -106.9% | |
| EPS (Diluted) | 0.0% | 96.9% | -308.0% | -120.6% | -66.7% | -219.8% | 98.6% | -11.6% | |
| Operating Cash Flow | 0.0% | -69.7% | 3.1% | -968.4% | -199.3% | -14.7% | 26.2% | -46.3% | |
| Free Cash Flow | 0.0% | -69.7% | 3.1% | -1020.1% | -187.3% | -14.2% | 26.2% | -46.2% | |
| R&D Expense | 0.0% | 174.2% | 25.7% | 868.1% | 271.6% | 19.9% | -21.6% | 39.6% | |
| SG&A Expense | 0.0% | -23.5% | 91.8% | 658.7% | 148.5% | -20.4% | -17.0% | 4.7% | |
| Total Assets | 0.0% | 1.0% | 386.9% | 2073.5% | -66.9% | -31.9% | 41.1% | 2126.3% | |
| Book Value / Share | 0.0% | 93.5% | -149.4% | 553.6% | -89.7% | 51.4% | -101.9% | 364.3% | |
| Debt | 0.0% | 96.6% | 124.9% | -100.0% | 0.0% | 0.0% | -91.5% | -100.0% | |
| Diluted Shares | 0.0% | 3237.0% | 24.5% | 32.0% | 54.0% | -66.6% | 6465.5% | 93.7% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.01
10Y Low / Med / High0.46 / 678.39 / 1743.07
EV/EBITDA0.15
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$26.00
Cash / Share
$8.95
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -1160.30 | -38017.47 | -9318.01 | -2028.24 | -4.76 | -1.23 | -1.40 | -0.13 | -0.03 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -1042.83 | -15979.44 | -6408.18 | 678.39 | 1743.07 | 14.10 | -11.66 | 0.46 | 0.01 | |
| EV/EBITDA | 0.00 | -38952.69 | -11204.85 | -2061.09 | -323.12 | -1.16 | -1.10 | 0.38 | 0.15 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-1.94
Distress
Piotroski F-Score
0
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $500.0K | $9.7M | $9.9M |
| Net Income | -$6.2M | -$4.6M | -$3.9M |
| EPS | $-8.96 | $-6.72 | $-5.60 |
| # Analysts (EPS) | 1 | 1 | 1 |