On August 27, 2020, Paul Walker informed Tracon Pharmaceuticals, Inc. that he was resigning as a Director of the company effective upon the closing of the Private Placement on August 31, 2020. In connection with Mr. Walker's notice of resignation, the company's Board of Directors appointed Saundra Pelletier as chairperson of the Nominating and Corporate Governance Committee and as a member of the Audit Committee.