TRACON Pharmaceuticals (TCON) IPO Opens Modestly Lower

Today's IPO for TRACON Pharmaceuticals, Inc. (Nasdaq: TCON) opened for trading at $9.90 after pricing 3,600,000 shares of common stock at a price to the public of $10.00 per share.

Wells Fargo Securities and Stifel are acting as joint book-running managers for the offering. Needham & Company, LLC and Oppenheimer & Co. Inc. are acting as co-managers.

TRACON develops targeted therapies for cancer, age-related macular degeneration and fibrotic diseases. TRACON's current pipeline includes two clinical stage product candidates: TRC105, an anti-endoglin antibody that is being developed for the treatment of multiple solid tumor types, and TRC102, a small molecule that is being developed for the treatment of lung cancer and glioblastoma. Both TRC105 and TRC102 are being developed for treatment in combination with currently available therapies.

You May Also Be Interested In