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TRACON Pharmaceuticals (TCON) reported its Q1 2024 financial results, revealing cash reserves of $8 million, down from $8.6 million at the end of 2023. The company aims to leverage its Product Development Platform for non-dilutive capital. Key highlights include interim data from the ENVASARC Phase 2 trial showing an 11% ORR by investigator review and 5.5% by BICR, with a median response duration of over six months. TRACON is working to meet Nasdaq compliance requirements by June 3, 2024, following a reverse stock split and S-1 filing. R&D expenses dropped to $1.9 million from $5 million YoY, and net loss decreased to $3.2 million from $8.5 million YoY.
TRACON Pharmaceuticals, Inc. (Nasdaq: TCON) will report its first quarter 2024 financial results on May 14, 2024. The company utilizes a cost-efficient product development platform to advance cancer therapeutics and partner with life science companies. Management will host a conference call to discuss financial results and corporate activities.