The following is a summary of the TRACON Pharmaceuticals, Inc. (TCON) Q1 2024 Earnings Call Transcript:

Financial Performance:

• TRACON's R&D expenses were down to $1.9 million in Q1 2024 from $5 million in Q1 2023 due to the termination of a pivotal trial.

• General and administrative expenses decreased to $1.4 million from $2.3 million in Q1 2023 due to lower legal expenses.

• Net loss was $3.2 million in Q1 2024, down from $8.5 million in Q1 2023.

• $8 million in cash and cash equivalents held in March 2024.

Business Progress:

• Progress is sustained with the ongoing Phase II ENVASARC pivotal trial which is expected to conclude by Q3.

• TRACON expects Fast Track designation for ENVA in certain sarcoma subtypes.

• Development of clinical strategy for approval of ENVA in frontline sarcoma is ongoing.

• An ongoing Phase II trial, sponsored by NCI, is assessing TRACON's DNA damage repair inhibitor TRC102 in Stage III non-small cell lung cancer.

• The company licensed their PDP for $3 million upfront payment to a biotech company last year and plans on evaluating more drug candidates.

• TRACON is considering options to meet NASDAQ's equity requirement by June 30, 2024.

More details: Tracon Pharmaceuticals IR

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