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Tag: TRACON Pharmaceuticals Inc.

  • TRACON Pharmaceuticals, Inc. (TCON) Stock Nose-dived After Hours Following Financials Release.

    TRACON Pharmaceuticals, Inc. (TCON) Stock Nose-dived After Hours Following Financials Release.

    TRACON Pharmaceuticals, Inc. (TCON) is a leading late-clinical company focused on the development and marketing of cancer therapeutics along with treatment for macular degeneration and fibrotic diseases. Its pipeline candidate is Envafolimab used in treating sarcomas. TRC102 is in Phase 2 trials for lung cancer treatment and TJ004309 in Phase 1 trials for progressive solid tumors treatment.

    TCON stock price during the regular trading of March 15, 2022, is slightly up by 1.50% to be $2.7. Its price plummeted at the time of writing in the aftermarket session by 22.2%.

    TCON: Key Financials

    On March 15, 2022, TCON announced its fourth-quarter 2021 financial statement for the three months ended December 31, 2021. Some key highlights are as follows.

    Revenue

    No revenue was recorded by the company in the fourth fiscal quarter of 2021 and 2020. The analyst’s estimations for the revenue were $66.6 thousand and the company missed it.

    EPS

    Net loss (basic and diluted) for the fourth quarter of fiscal 2021 was $7.7 million or $0.40 per share compared to $4.3 million or $0.31 per share in the corresponding quarter of 2020. The company recorded a decline in its earnings over the year. It missed the target EPS by -%0.04

    TCON: Events and Happenings

    On March 11, 2022, TCON reported the participation of its CEO Charles Theuer at the Oppenheimer 32nd Annual Healthcare Conference being held on March 16, 2022. On March 10, 2022, TCON updated on preliminary patient dosage following the FDA’s endorsement regarding the modified ENVASARC protocol.

    On February 02, 2022, TCON issued a statement regarding the initiation of Phase 2 TRC102 along with chemoradiation in patients with NSCLC by the National Cancer Institute. On January 05, 2022, TCON informed about the presentation of its CEO at the Virtual H.C. Wainwright BIOCONNECT Conference held on January 10-13, 2022.

    Conclusion

    TCON stock showed a bearish trend during the past year as its stock down-performed by 70%. The company’s stock is declining in the aftermarket as it provided updates on its earnings and missed both revenue and EPS targets.

  • Tracon Pharmaceuticals, Inc. (TCON) Stock Dipped in Regular Trading, Here’s What you Should Know

    Tracon Pharmaceuticals, Inc. (TCON) is a leading clinical stage company engaged in the development and commercialization of oncology related therapies. The company also develops treatment for macular degeneration and fibrotic diseases. The lead product candidates is Envafolimab, an antibody injected subcutaneously for treatment of ENVASARC trial for sarcoma. TRC102 is another product in Phase 2 trial for the treatment of lung cancer. TJ004309 is in Phase 1 clinical trials for the treatment of progressive solid tumors.

    The price of TCON stock, at last check during the regular trading on December 27, 2021, was $3.00. the showed a notable decline of 13.86%.

    TCON: Events and Happenings

    On December 27, 2021, TCON reported that the Independent Data Monitoring Committee recommended continued accretion in both the units of envafolimab. Toleration level of Envafolimab was good, with only a minor adversity reported in some patients. On November 29, 2021, TCON announced that its collaborators Alphamab Oncology and 3D Medicines reported that envafolimab received marketing certification from the Chinese Administration.

    On November 11, 2021, TCON reported that the top management of the company presented at the Virtual Jefferies London Healthcare Conference. The conference held on November 18-19, 2021.

    TCON: Key Financials

    On November 03, 2021, TCON reported financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows

    Net loss per Share

    Basic and diluted net loss for the third quarter of 2021 was $7.0 million or $0.38 per share, as compared to $4.0 million or $0.38 for the same quarter of 2020.

    Total Current Assets

    Total current assets reported by the company for Q3 2021 were $31.1 million as compared to the same period prior year when they were $27.4 million.

    On October 11, 2021, TCON and Eucure Biopharma entered into a partnership for the research and development of YH001. It is used in treatment of soft tissue sarcoma. On September 13, 2021, TCON reported that the top management of the company presented at Oppenheimer Fall Healthcare Life Sciences and MedTech Summit. The summit held on September 20, 2021.

    On September 07, 2021, reported that the top management of the company presented at the H.C. Wainwright 23rd Annual Global Investment Conference. It held on September 13-15, 2021. On September 02, 2021, TCON reported that the top management of the company presented at the Wells Fargo Healthcare Conference. The conference virtually held on September 9, 2021.

    Conclusion

    The price of TCON stock s 15% up in comparison to the past month but it remarkably declined in the regular trading. The decline is the result of uncertain market environment. Earlier the company reported positive outcomes from IDMC for Envasarc trials. The analysts believe the company’s strategies are strong to attract potential investment in the future.

  • 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.