RNA oncology company TransCode Therapeutics Inc (Nasdaq:RNAZ) announced on Friday that its board of directors has approved a 1-for-28 reverse stock split.

Approved by TransCode's stockholders on 2 May 2025, the reverse stock split is intended to increase the per-share trading price of the company's common stock to enable it to satisfy the minimum bid price requirement for continued listing on the Nasdaq Capital Market.

In the 1-for-28 reverse stock split, 28 current shares of TransCode's common stock will be automatically converted into one new share of common stock. No fractional shares will be issued in connection with the reverse stock split. In lieu of issuing fractional shares, stockholders of record who otherwise would be entitled to receive fractional shares will be entitled to rounding up of the fractional share to the nearest whole number. The reverse split will reduce the number of shares of common stock outstanding from 23,341,336 shares to approximately 833,620 shares. Proportional adjustments will also be made to the exercise prices of TransCode's outstanding stock options and warrants, and to the number of shares issued and issuable under TransCode's stock incentive plans.

Stockholders of record are not required to take any action to receive post-split shares in book-entry.

The effective date of the reverse stock split has not yet been determined and will be announced by the company at least two business days prior to its implementation.