Jan. 12 at 1:52 PM
$RNAZ Since TransCode Therapeutics (RNAZ) announced its acquisition of Polynoma, and given that Polynoma is widely discussed as being in an advanced clinical stage (Phase 3), there are several critical questions that the company should clarify to shareholders transparently and directly:
Will there be an actual Nasdaq-listed merger?
Will TransCode and Polynoma be combined into a single entity listed on Nasdaq?
Or is this acquisition primarily an asset acquisition (ownership of assets) without a full operational/financial merger?
Is there any intention to change the company name, ticker symbol, or restructure the business following the acquisition?
Will there be a re-rating (revaluation) due to the valuation gap?
If Polynoma’s value is indeed higher than TransCode’s, should shareholders expect a re-rating of the combined entity after the acquisition?
What valuation framework was used to price and structure the deal?
Valuation of Polynoma’s core asset(s)?
Valuation of intellectual property and platform value?
Future revenue/licensing potential?
Or is the transaction heavily contingent on future events (e.g., CVRs or milestone-based payments)?
CK Life Sciences financing: what exactly does it cover?
Is the CK Life Sciences financing/support intended for:
TransCode only and its current programs (such as TTX-MC138 and its delivery platform)?
Or does it also cover Polynoma’s programs after the acquisition?
Will any portion of that funding be used to operate, develop, or advance Polynoma’s trials, or is it strictly limited to TransCode’s pipeline?
Shareholder impact and potential share-price re-pricing (a sensitive point)
If TransCode and Polynoma are truly combined under one listed entity in a way that reflects the real underlying value of the acquired asset, it is reasonable for shareholders to ask:
Will that be reflected in the stock price through a fair re-pricing?
My personal view (a perspective, not a guarantee): If there is a clear and transparent combination, with a fair structure and a rational valuation of the assets, I believe TransCode’s share price could be positioned for significantly higher levels (e.g.,
$100). However, this remains dependent on multiple factors—especially deal structure, financing strategy, and avoiding shareholder-unfriendly dilution.
This is my personal opinion.