TRACON Pharmaceuticals Announces Appointment of Biotechnology Industry Veteran Shahe Garabedian as Senior Vice President of Quality Assurance and Granting of Inducement Award
“We are very pleased to welcome Shahe to the TRACON senior management team,” said Dr.
“TRACON has a first-class management team, an efficient platform to conduct global clinical trials, and a promising drug candidate with near-term commercial potential in envafolimab,” said
In connection with Mr. Garabedian’s appointment, he was issued an inducement award consisting of an option to purchase an aggregate of 17,400 shares of the Company's common stock. The option was granted in accordance with Nasdaq Listing Rule 5635(c)(4) under the Tracon Pharmaceuticals, Inc. 2015 Equity Incentive Plan (the "2015 Plan”) and was approved by TRACON’s compensation committee. The option has an exercise price per share equal to
TRACON develops targeted therapies for cancer utilizing a capital efficient product development platform. The Company’s clinical-stage pipeline includes: Envafolimab, a subcutaneous PD-L1 single-domain antibody being developed for the treatment of sarcoma; TRC102, a small molecule drug being developed for the treatment of lung cancer; TRC253, a small molecule drug being developed for the treatment of prostate cancer; and TJ004309, a CD73 antibody being developed for the treatment of advanced solid tumors. TRACON is actively seeking additional corporate partnerships whereby it leads regulatory and clinical development and shares in the cost and risk of clinical development and 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 TRACON's plans to further develop product candidates, expectations regarding the timing and scope of clinical trials, expected development and regulatory milestones and timing thereof, potential commercialization of product candidates, potential utility of product candidates, and TRACON’s business development and commercialization strategy and goals. Risks that could cause actual results to differ from those expressed in these forward‐looking statements include: risks associated with clinical development; whether TRACON or others will be able to complete or initiate clinical trials on expected timelines, if at all; potential guidance from the FDA regarding clinical development plans that is inconsistent with TRACON’s expectations; the fact that future preclinical studies and clinical trials may not be successful or otherwise consistent with results from prior studies; the fact that TRACON has limited control over whether or when third party collaborators complete on-going trials, initiate additional trials or seek regulatory approval of product candidates; the fact that TRACON’s collaboration agreements are subject to early termination; whether or when envafolimab receives regulatory approval in
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Source: TRACON Pharmaceuticals, Inc.