TRACON Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 15, 2022 at 03:31 am IST
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TRACON Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net loss was USD 6.44 million compared to USD 6.95 million a year ago. Basic loss per share from continuing operations was USD 0.3 compared to USD 0.38 a year ago.
For the nine months, net loss was USD 22.14 million compared to USD 20.96 million a year ago. Basic loss per share from continuing operations was USD 1.08 compared to USD 1.27 a year ago.
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.