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Pen­ny stock pulls back on of­fer­ing up more of its shares amid ‘cur­rent mar­ket con­di­tions’

As some biotechs con­tin­ue to re­think IPOs or SPAC deals in the cur­rent mar­ket, oth­er com­pa­nies are paus­ing on sell­ing off more shares.

The Boston-based RNA biotech TransCode Ther­a­peu­tics on Tues­day an­nounced that it has with­drawn its S-1 fil­ing with the SEC that it made in late No­vem­ber. TransCode said in a brief press re­lease that the with­draw­al is re­flec­tive of TransCode’s be­lief that “cur­rent mar­ket con­di­tions are not con­ducive for an of­fer­ing on terms that would be in the best in­ter­ests of the com­pa­ny’s stock­hold­ers.”

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