TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) Files An 8-K Other Events
Item 8.01
TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) Files An 8-K Other Events
On April 20, 2020, Janssen Pharmaceutica N.V. (Janssen) notified the Company that it would not opt-in to reacquire rights to TRC253 following its review of results from a Phase 2 clinical trial in metastatic castration-resistant prostate cancer. As a result, the Company retains global rights to TRC253 under the existing license and option agreement with Janssen. The Company is obligated to pay to Janssen development and regulatory based milestones totaling up to $45.0 million upon achievement of specific events and royalties in the low single digits based on annual net sales of TRC253, subject to certain specified reductions.
A press release related to the TRC253 update and issued on April 24, 2020 is attached hereto as Exhibit 99.1.
(d) Exhibits.
Tracon Pharmaceuticals, Inc. Exhibit
EX-99.1 2 tcon-ex991_6.htm EX-99.1 tcon-ex991_6.htm Exhibit 99.1 TRACON Pharmaceuticals Retains Global Rights to TRC253 Following Completion of a Phase 1/2 Trial TRACON seeks licensing partner to develop and commercialize TRC253 in China San Diego,…
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About TRACON Pharmaceuticals, Inc. (NASDAQ:TCON)
TRACON Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (wet AMD) and fibrotic diseases. The Company’s research focuses on antibodies that bind to the endoglin receptor, which is essential to angiogenesis (the process of new blood vessel formation) and a contributor to fibrosis (tissue scarring). The Company’s lead product candidate, TRC105, is an endoglin antibody that is being developed for the treatment of multiple solid tumor types in combination with inhibitors of the vascular endothelial growth factor (VEGF) pathway. TRC205 is being developed for the treatment of fibrotic disease. The Company is also developing TRC102, a small molecule that is in clinical development for the treatment of lung cancer and glioblastoma.
