Tracon Pharmaceuticals, Inc.
traconpharma.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 13, 2024. Its latest SEC filing is a SC 13G/A from Nov 14, 2024.
10-Q for Q2 FY2024, filed Aug 13, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Develops targeted cancer drug candidates and provides a clinical-trial development platform to other life science companies.
10-K for FY2023, filed Mar 5, 2024
How Did They Make Money?
Collaborators pay upfront license fees, milestone amounts when development or regulatory targets are met, and for manufacturing supplies; the company may also receive royalties when licensed products are sold. Contract billing schedules set payment timing.
10-K for FY2023, filed Mar 5, 2024To date, the Company’s revenue has been derived from license and collaboration agreements. The terms of these arrangements included…View ↗
Milestone Payments: At the inception of each arrangement that includes development, commercialization, and regulatory milestone payments…View ↗
Royalties: For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license…View ↗
The Company receives payments from its collaborators based on billing schedules established in each contract. Up-front and other payments…View ↗
$12M
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10-K for FY2023, filed Mar 5, 2024
$12M ↗
Who Were Their Customers?
Other life science companies partner with TRACON to develop and commercialize products in the United States; they can also license its platform to run clinical trials without outside research organizations.
10-K for FY2023, filed Mar 5, 2024
Did Revenues Turn Into Profits?
No. It lost $3.6M in FY2023.
10-K for FY2023, filed Mar 5, 2024
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2024, filed Aug 13, 2024
−$2.8MView ↗
- ▼ −55% (Loss)
- vs −$6.3M in Q2 FY2023
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Oct 11, 2024
Dissolution vote meeting lacked a quorum
The special meeting on the liquidation proposal did not have enough stockholders present to form a quorum.
Sources
8-K, filed Oct 11, 2024
On October 11, 2024, the Company convened its special meeting of stockholders (the “Special Meeting”) for the purpose of approving the…View ↗
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Jul 30, 2024
Company approved a wind-down and dissolution plan
It planned to terminate substantially all employees; the CEO and CFO left, and Craig Jalbert became CEO and sole director.
Sources
8-K, filed Jul 30, 2024
On July 26, 2024, the Board of Directors (the “Board”) of TRACON Pharmaceuticals, Inc. (the “Company”) unanimously approved a…View ↗
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Jul 16, 2024
Company withdrew its Nasdaq delisting appeal
Nasdaq said it would delist the common stock, which had begun trading on the OTCQB Venture Market.
Sources
8-K, filed Jul 16, 2024
As previously disclosed, on June 11, 2024, TRACON Pharmaceuticals, Inc. (the “Company”) received a determination letter (the “Delisting…View ↗
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Jul 1, 2024
ENVASARC missed its primary endpoint; company ended envafolimab development
The trial produced 4 responses among 82 evaluable patients, below its primary endpoint.
Sources
8-K, filed Jul 1, 2024
Nine of 82 responses (11%) by blinded independent central review (BICR) were needed to satisfy the primary endpoint of the trial which is…View ↗
Platform licensing
The older report describes the platform as supporting the company’s own trials and product-license partnerships. The latest report also describes licensing the platform itself to other companies.
10-K for FY2020, filed Feb 25, 2021 10-K for FY2023, filed Mar 5, 2024We utilize a CRO-independent product development platform that emphasizes capital efficiency. Our experienced clinical operations, data…View ↗
We utilize a product development platform (PDP) that emphasizes capital efficiency. Our experienced clinical operations, data management…View ↗
Envafolimab trial focus
The earlier ENVASARC plan included envafolimab alone and in combination with Yervoy; the latest report says the combination cohort was ended after it did not demonstrate synergy.
10-K for FY2020, filed Feb 25, 2021 10-K for FY2023, filed Mar 5, 2024In December 2019, we entered into a collaboration and clinical trial agreement (the Envafolimab Collaboration Agreement) with 3D Medicines…View ↗
In June 2023, an independent data monitoring committee (IDMC) performed an ad hoc review of interim safety and efficacy data from more than…View ↗
Who Did They Compete With?
Competes with Merck, BMS, AstraZeneca, Roche, GSK, and Clovis Oncology
10-K for FY2023, filed Mar 5, 2024There is no PD-1 or PD-L1 therapy approved by the FDA for the treatment of sarcoma. Keytruda (marketed by Merck) has a compendia listing…View ↗
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