There have been many people that claimed they deciphered it, but so far every one of them turned out to be wrong. Theres also a lot of people claiming it to just be nonsense, but proving that is nearly impossible. Comparing the number/frequency/combinations of glyphs in the manuscript to real languages/alphabets shows that it behaves very similar to natural languages in many ways which would indicate it to be a code or cypher, but it also significantly differs from how natural languages behave in many other ways, so its very difficult to say if its a code or not.

The most important step to deciphering it would be to figure out what language it is in, but afaik there hasnt been a conclusion reached in regards to that.