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Tag: NASDAQ: TCON

  • After-Hours Brilliance: Unveiling TRACON Pharmaceuticals’ Financial Triumphs and Market Mastery

    After-Hours Brilliance: Unveiling TRACON Pharmaceuticals’ Financial Triumphs and Market Mastery

    TRACON Pharmaceuticals Inc., a well-known player in the biopharmaceutical sector, has recently garnered attention for its exceptional after-hours showing in the US stock market.

    This piece provides a comprehensive examination of the occurrence and the ensuing financial ramifications for the company and its stakeholders.

    Overview of Company

    TRACON Pharmaceuticals (TCON) is a clinical-stage biopharmaceutical company primarily focusing on the development and commercialization of novel targeted cancer therapeutics.

    The company’s unique cost-efficient, CRO-independent product development platform has made it a preferred partner for other life science companies.

    TRACON’s After-Hours Performance

    TRACON (TCON) demonstrated an impressive after-hours performance recently. The company’s stock saw a staggering post-market change of +131.25%, closing at 0.3700 USD. This substantial increase amounted to a post-market change of 0.2100 USD.

    Volume of Shares Traded

    The company’s after-hours trading session observed a high post-market volume of 15.736 million shares, indicating a strong interest from investors.

    This volume was slightly lower than the regular trading session, which saw a volume of 16.15 million shares, suggesting a consistent interest throughout the day.

    Regular Trading Session Performance

    Before the after-hours trading session, the regular trading session saw the company’s stock at 0.1600 USD. This price reflected a modest change of 0.95%, suggesting a stable market performance during regular trading hours.

    Yearly Performance

    When considering the stock’s recent activity, it is important to note its performance over the past year.

    TCON has faced challenges, with its performance marked by an -85.86% decline. This decline indicates that despite the recent after-hours surge, the company has had a tough year in the market.

    Product Development Platform

    One of TRACON’s key strengths lies in its product development platform. This platform is designed to generate non-dilutive capital, which essentially means financing that does not require the sale of the company’s shares.

    The company wants to license this platform to other companies, allowing them to transform their clinical operations.

    Anticipated Milestones

    TRACON has several key milestones to look forward to. These include the completion of the ENVASARC pivotal trial in the fourth quarter of 2023 and the release of updated response rate data before the end of the year. The final data from this trial is expected in mid-2024.

    Financial Results

    TRACON recently disclosed its financial outcomes for the third quarter concluding on September 30, 2023. The company declared a net income of $10.8 million during Q3 2023, contrasting with a net loss of $6.4 million recorded in the corresponding period of 2022.

    Conclusion

    The after-hours performance of TRACON Pharmaceuticals Inc. underlines the potential rewards and risks of after-hours trading.

    While the company’s stock demonstrated a noteworthy surge, it is essential to consider the broader context, including the company’s annual performance and the current market conditions.

    As always, prudent research and market analysis remain crucial for successful trading and investment decisions.

  • TRACON Pharmaceuticals (NASDAQ: TCON) Receives FDA TRC102 Orphan Drug Designation

    TRACON Pharmaceuticals (NASDAQ: TCON) Receives FDA TRC102 Orphan Drug Designation

    TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) has announced today that it has received Orphan Drug Designation for TRC102 for the treatment of patients suffering from malignant Glioma and glioblastoma (GBM) from the US Food and Drug Administration (FDA). In the Orphan Drug Designation, the drug has been given the Orphan status. This status is given to the companies to provide them with financial benefits for the development of new drugs for the treatment of rare diseases.

    TRC102 is being examined in Phase 1 and Phase 2 clinical trials which were sponsored by the National Cancer Institute through a Cooperative Research and Development Agreement (CRADA). In Phase II, TRC102 was analyzed with Temodar chemotherapy. This study has been done on 19 patients who were suffering from progressive or recurrent GBM.

    Thes study has shown promising results and increase the time of survival in two patients for more than two years. Both patients have shown the activation of the DNA base excision repair pathway and shown hyperactivation of DNA damage response genes.

    Furthermore, TRC102 has also been analyzed in combination with chemotherapy and external beam radiotherapy in a Phase 1 study. 15 patients have participated in this study who have newly diagnosed non-squamous cell non-small cell lung cancer.

    TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) shares were trading up 9.29% at $4.94 during the trading session of Friday. TRACON Pharmaceuticals, Inc. (TCON) share price went from a low point around $0.95 to briefly over $6.37 in the past 52 weeks. It has traded up 420.00% from its 52-weeks low and moved down -22.45% from its 52-weeks high. TCON market cap has remained high, hitting $59.58 million at the time of writing.

    Orphan Drug Designation status for TRC102 will be helpful in providing the treatment for unmet medical needs of patients who are suffering from malignant glioma. TRACON Pharmaceuticals has committed to developing TRC102 with the help of the National Cancer Institute.