BOSTON - TransCode Therapeutics, Inc. (NASDAQ: RNAZ), an RNA oncology company, announced the appointment of Dr. Daniel Vlock as Chief Medical Officer. Dr. Vlock, a seasoned medical oncologist with over 25 years of industry experience, joins the company to lead its clinical development strategy.
In his new role, Dr. Vlock will leverage his extensive background, which spans roles at prestigious academic institutions such as Yale University, University of Pittsburgh, and Harvard University.
His industry experience includes guiding pre-IND, phase I, II, and III clinical trials, and post-approval studies for over 40 oncology programs. Notably, he managed the Celebrex Oncology program at Pharmacia, which involved pivotal clinical trials and led to the drug's European approval for treating familial adenomatous polyposis.
Before joining TransCode, Dr. Vlock served as CEO of Alopexx, Inc., where he oversaw drug development across various disease areas, including oncology and Alzheimer's Disease. His expertise in clinical trial design, regulatory agency interactions, and medical oversight will be instrumental in advancing TransCode's clinical programs.
TransCode is currently focused on developing its lead therapeutic candidate, TTX-MC138, to treat metastatic tumors that overexpress microRNA-10b, a biomarker associated with metastasis. The company's pipeline also includes several first-in-class RNA therapeutic candidates designed to address RNA delivery challenges and target genetic factors relevant to cancer treatment.
Tom Fitzgerald, CFO and Interim CEO of TransCode, expressed confidence in Dr. Vlock's ability to translate the company's science into a robust clinical development program. Dr. Vlock will initially serve on a part-time basis through a consulting arrangement with BioBridges LLC, a life sciences consulting firm.
The announcement is based on a press release statement and contains forward-looking statements regarding Dr. Vlock's appointment and TransCode's clinical and preclinical programs.
Dr. Vlock obtained his M.D. from Baylor College of Medicine and completed his residency and fellowship at Temple University Hospital and Yale University School of Medicine, respectively.
InvestingPro Insights
As TransCode Therapeutics, Inc. (NASDAQ: RNAZ) welcomes Dr. Daniel Vlock to guide its clinical development strategy, investors are closely monitoring the company's financial health and stock performance. According to InvestingPro data, TransCode holds a market cap of approximately $4.46 million USD, reflecting its position as a small-cap company in the biotechnology sector. The company's price to book ratio as of the last twelve months ending in Q3 2023 stands at 1.01, indicating that the market values the company at a level close to its book value.
However, the financial metrics reveal that TransCode has faced significant challenges, with an operating income of -$20.89 million USD and an EBITDA of -$20.77 million USD for the same period. This underscores the company's current phase of heavy investment in research and development, typical for early-stage biotech firms. The InvestingPro Tips further highlight that TransCode is quickly burning through cash and has not been profitable over the last twelve months, which is not uncommon in the industry where upfront costs are high and revenues are often back-ended.
Investors should also be aware of the stock's high price volatility and recent poor performance, with a 90.08% drop in the three-month price total return as of the current year. This is indicative of the inherent risks in the biotech sector, especially for companies in the clinical development stage. For those considering an investment in TransCode, it's worth noting that analysts do not anticipate the company will be profitable this year, and the stock price has significantly underperformed over various timeframes, including the last year and the last five years.
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