TRACON Pharmaceuticals Announces $8.8 Million Registered Direct Offering
TRACON intends to use the net proceeds from the offering to fund the ENVASARC pivotal study of envafolimab in sarcoma, further business development efforts, and for working capital and general corporate purposes.
The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-229990) previously filed with the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
TRACON develops targeted therapies for cancer utilizing a capital efficient, CRO independent, product development platform. The Company’s clinical-stage pipeline includes: Envafolimab, a subcutaneous PD-L1 single-domain antibody being developed in a registration trial for the treatment of certain sarcomas; TRC253, a small molecule drug candidate for the treatment of prostate cancer; TRC102, a Phase 2 small molecule drug candidate being developed for the treatment of lung cancer and glioblastoma; and TJ004309, a CD73 antibody in Phase 1 development for the treatment of advanced solid tumors. TRACON is actively seeking additional corporate partnerships whereby it leads
Statements made in this press release regarding matters that are not historical facts are “forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward‐looking statements. Such statements include, but are not limited to, statements regarding the anticipated size, proceeds from and timing of the closing of the offering and the use of the proceeds from the offering. Risks that could cause actual results to differ from those expressed in these forward‐looking statements include: risks and uncertainties inherent in drug discovery, development and clinical trials, TRACON’s ability to satisfy the conditions to closing the offering, potential unexpected capital requirements and other risks described in TRACON’s filings with the
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Source: TRACON Pharmaceuticals, Inc.