Transcode Therapeutics Inc ( RNAZ ) shares are trading lower by 62% to $0.30 during Tuesday’s session after the company announced pricing of its public offering.

The public offering of 10 million shares of its common stock will be at $0.30 per share, aiming to raise $3 million before deducting expenses. The offering is set to close on July 24, pending usual conditions.

The funds will be used for product development, including clinical trials for TTX-MC138, their lead therapeutic candidate, and related studies as well as for general corporate purposes.

Read Also: Veteran Wall Street Investor Downplays Recession Odds: ‘Current Bull Market Has More Support From Earnings’

Should I Sell My RNAZ Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.

RNAZ has a 52-week high of $128.00 and a 52-week low of $0.30.