TRACON Pharmaceuticals, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 05:01 pm
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TRACON Pharmaceuticals, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 6.29 million compared to USD 6.23 million a year ago. Basic loss per share from continuing operations was USD 4 compared to USD 6.2 a year ago. Diluted loss per share from continuing operations was USD 4.
For the six months, net loss was USD 14.79 million compared to USD 15.7 million a year ago. Basic loss per share from continuing operations was USD 10.8 compared to USD 15.8 a year ago. Diluted loss per share from continuing operations was USD 10.8.
TRACON Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of novel targeted therapeutics for cancer and utilizing its contract research organization (CRO) independent product development platform to partner with other life science companies to develop and commercialize products in the United States. The Companyâs clinical-stage oncology product candidate is TRC102, which is a small molecule that has been studied in Phase 1 and Phase 2 trials for the treatment of mesothelioma, lung cancer, glioblastoma and solid tumors and YH001, which is a monospecific investigational cytotoxic T-lymphocyte-associated protein 4 (CTLA-4) antibody. TRC102 is a small molecule in clinical development to reverse resistance to specific chemotherapeutics by inhibiting DNA base excision repair (BER). Its clinical-stage product candidate, Envafolimab, is a PD-L1 antibody that is being developed for the treatment of sarcoma.