Tungsten Advisors

TransCode Launches Strategic Review of Oncology Portfolio

TransCode Launches Strategic Review of Oncology Portfolio

BOSTON – October 29, 2026 -- TransCode Therapeutics (Nasdaq: RNAZ) has opened a formal strategic process that could end in a sale or licensing of its oncology assets, a partnership or a business combination, with lead candidate TTX-MC138 now in Phase 2a development.

Tungsten Advisors to run the process as exclusive financial advisor

The Board of Directors initiated the review to maximize the value of the company and its oncology portfolio. Options include licensing or selling individual assets, development and commercialization partnerships, portfolio transactions and business combinations. TransCode has engaged Tungsten Advisors as exclusive strategic financial advisor.

CEO and Chairman Philippe P. Calais said the process is meant to support continued development of TTX-MC138 while seeking to maximize value for stockholders.

Cadrenal Launches Strategic Review, Hires Tungsten Advisors

PONTE VEDRA, Fla. – – October 27, 2026 -- Cadrenal Therapeutics (Nasdaq: CVKD) has opened a formal strategic process covering its entire four-asset pipeline, with options ranging from asset sales to a full business combination. The Board of Directors initiated the review to maximize value for shareholders, and Tungsten Advisors will act as exclusive strategic financial advisor.

Four programs, from Phase 3-ready to preclinical, are in scope

The review covers CAD-1005, tecarfarin, frunexian and CAD-2000, the company's second-generation 12-LOX platform. Cadrenal says the process builds on ongoing partnering discussions.

Potential transactions include licensing or sale of individual assets, development and commercialization partnerships, portfolio transactions and business combinations.