Item 8.01 Other Events.

As previously reported, on December 30, 2022, TRACON Pharmaceuticals, Inc. (the "Company") received a letter (the "Notice") from the Listing Qualifications staff (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that for the 30 consecutive business days prior to the date of the Notice, the market value of the Company's common stock was less than $35.0 million, which did not meet the requirement for continued listing on the Nasdaq Capital Market, as required by Nasdaq Listing Rule 5550(b)(2) (the "Market Value Rule"). The Notice provided the Company with 180 calendar days, or until June 28, 2023, to regain compliance with the Market Value Rule.

On January 20, 2023, the Company received a letter from Nasdaq notifying the Company that the Staff had determined that the market value of the Company's common stock was $35.0 million or greater for the 10 consecutive business days prior to and including January 19, 2023. Accordingly, the Company has regained compliance with the Market Value Rule and the matters arising from the Notice are now closed.

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