leadf
logo-loader
viewTRACON Pharmaceuticals

TRACON Pharmaceuticals enters into securities purchase agreement with existing investor, with aggregate gross proceeds expected to be $5.0M

It intends to use the net proceeds to fund the ENVASARC pivotal study of envafolimab in sarcoma, further business development efforts, working capital and general corporate purposes

TRACON Pharmaceuticals -
TRACON said the offering will be at a price of $9.61 per share, which was the closing price of the company’s common stock on December 28, 2020

TRACON Pharmaceuticals Inc (NASDAQ:TCON) (FRA:T051) said it has entered into a securities purchase agreement with an existing investor to sell an aggregate of 520,961 shares of common stock in a registered direct offering, with aggregate gross proceeds expected to be $5.0 million. 

The group said the offering will be at a price of $9.61 per share, which was the closing price of the company’s common stock on December 28, 2020. 

READ: TRACON Pharmaceuticals says it is looking to raise aggregate gross proceeds of $8.8 million from a registered direct share offering

TRACON said it intends to use the net proceeds from the offering to fund the ENVASARC pivotal study of envafolimab in sarcoma, further business development efforts, and for working capital and general corporate purposes.

The closing of the offering is expected to occur on or about December 30, 2020.

TRACON is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel targeted cancer therapeutics and utilizing a cost-efficient, CRO-independent product development platform to partner with ex-US companies to develop and commercialize innovative products in the US.

Contact the author at jon.hopkins@proactiveinvestors.com

 

Quick facts: TRACON Pharmaceuticals

Price: 9.17 USD

NASDAQ:TCON
Market: NASDAQ
Market Cap: $133.23 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of TRACON Pharmaceuticals named herein, including the promotion by the Company of TRACON Pharmaceuticals in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

TRACON's partners submit new drug application for approval of envafolimab to...

TRACON Pharmaceuticals Inc (NASDAQ:TCON) CEO Charles Theuer tells Proactive its corporate partners, Alphamab Oncology and 3D Medicines, have submitted a new drug application for the approval of envafolimab in the indication of MSI-H/dMMR cancer to the National Medical Products Administration in...

on 11/19/2020

2 min read