Transcode Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $13.4M | $9.7M | $12.3M | $10.2M | $2.8M |
| Operating expenses | $28.0M | $15.7M | $19.4M | $18.6M | $6.2M |
| Operating income | -$28.0M | -$15.7M | -$19.4M | -$18.6M | -$6.2M |
| Interest expense | $6,616 | $26,813 | $55,899 | $31,986 | $95,070 |
| Pretax income | -$34.4M | -$16.8M | — | — | — |
| Income tax expense | $226,069 | $0 | $0 | $0 | $53,051 |
| Net income | -$34.7M | -$16.8M | -$18.5M | -$17.6M | -$6.8M |
| Balance Sheet | |||||
| Cash and equivalents | $17.8M | $5.8M | $2.8M | $5.0M | $20.8M |
| Current assets | $22.0M | $7.1M | $4.5M | $7.4M | $22.7M |
| Total assets | $162.4M | $7.3M | $5.2M | $7.6M | $22.9M |
| Current liabilities | $3.5M | $2.8M | $3.5M | $4.3M | $2.5M |
| Total liabilities | $10.5M | $9.3M | $3.5M | $4.3M | $2.5M |
| Stockholders' equity | $10.3M | -$2.0M | $1.6M | $3.2M | $20.4M |
| Cash Flow Statement | |||||
| Cash from operations | -$19.5M | -$13.3M | -$18.1M | -$15.8M | -$5.3M |
| Depreciation and amortization | $76,446 | $90,894 | $123,483 | $98,606 | $42,470 |
| Stock-based compensation | $485,428 | $1.7M | $1.0M | $395,329 | $185,996 |
| Capital expenditure | $6,660 | $21,761 | $35,609 | $100,919 | $254,820 |
| Free cash flow | -$19.5M | -$13.4M | -$18.1M | -$15.9M | -$5.5M |
| Dividends paid | — | $0 | $0 | $0 | $0 |
| Impairments | $0 | — | — | — | — |
Shares outstanding 950.3K · Free float 68.6%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.