TRACON Pharmaceuticals, Inc. (TCON): history, ownership, mission, how it works & makes money

A Brief History of TRACON Pharmaceuticals, Inc. (TCON)

Company Formation and Initial Public Offering

TRACON Pharmaceuticals, Inc. was founded in 2010 in San Diego, California, with a focus on developing innovative therapeutics for cancer and other diseases. The company went public on the NASDAQ under the ticker symbol TCON on October 31, 2013.

Key Product Development

TRACON's lead product candidate is TJ004309, an anti-PD-L1 monoclonal antibody aimed at enhancing the immune response against tumors. In clinical trials, TJ004309 has shown promise in combination with other therapies for treating various cancer types.

Financial Milestones

As of the end of Q2 2022, TRACON reported cash and cash equivalents totaling approximately $20.3 million, which is projected to fund operations through Q4 2023.

In 2021, the company reported total revenues of $1.45 million, primarily from collaborations and grants.

Stock Performance

As of October 2023, TRACON Pharmaceuticals has a market capitalization of approximately $65 million. The stock has experienced fluctuations, with a 52-week range of $0.85 to $2.50.

Clinical Trials and Collaborations

TRACON has been involved in several clinical trials, partnering with various pharmaceutical companies. In 2022, it announced a collaboration with Mentor Capital, Inc. to develop new therapies and expand their clinical pipeline.

Pipeline Overview

Regulatory Achievements

TRACON has achieved several milestones in regulatory approvals, including Fast Track Designation from the FDA for TJ004309 in 2021, which is critical for expediting the development and review process.

Recent Developments

In September 2023, TRACON announced positive results from its ongoing trials, which led to a 15% increase in stock price following the announcement.

Management Team

• Charles Theuer - President and CEO
• Julie H. O'Neill - Chief Financial Officer
• Michael L. Kauffman - Chief Medical Officer

Market and Competitive Landscape

The global oncology market was valued at approximately $157 billion in 2020 and is projected to grow to $228 billion by 2026, providing a significant market opportunity for companies like TRACON Pharmaceuticals.

A Who Owns TRACON Pharmaceuticals, Inc. (TCON)

Overview of Ownership

As of the latest available data, TRACON Pharmaceuticals, Inc. (TCON) has a diverse ownership structure primarily composed of institutional investors, retail investors, and company insiders. This mixture contributes to the overall governance and capital structure of the company.

Institutional Ownership

Institutional investors hold a significant portion of TRACON Pharmaceuticals' outstanding shares. The following table outlines the major institutional shareholders and their respective ownership percentages:

Insider Ownership

Company insiders also maintain a stake in TRACON Pharmaceuticals, which can signal their commitment to the company's long-term success. Below is the table detailing insider ownership:

Retail Ownership

Retail investors make up another significant portion of TRACON's ownership. They tend to be individuals or smaller firms that buy shares through brokers. As of the latest reports, retail ownership accounts for approximately 25% of total outstanding shares.

Market Capitalization

As of the latest trading session, TRACON Pharmaceuticals had a market capitalization of approximately $150 million. The stock price was last recorded at $3.75. This information provides insight into the overall valuation of the company based on current market conditions.

Conclusion on Ownership Structure

Understanding the ownership structure of TRACON Pharmaceuticals is essential for assessing its governance and investment potential. Institutional ownership reflects confidence from larger entities, while insider ownership indicates management's belief in the company's future.

TRACON Pharmaceuticals, Inc. (TCON) Mission Statement

Company Overview

TRACON Pharmaceuticals, Inc. (TCON) is a biopharmaceutical company focused on the development of innovative therapies for the treatment of cancer and other diseases. The company aims to improve the lives of patients through the development of its pipeline products, which target significant unmet medical needs.

Mission Statement

The mission of TRACON Pharmaceuticals is to innovate and develop targeted therapies that provide meaningful benefits to patients suffering from cancer and other serious conditions. The company prioritizes patient-centered approaches and aims to expedite the delivery of drugs that demonstrate superior efficacy and safety profiles.

Core Values

• Patient Focus: Commitment to meeting the needs of patients.
• Innovation: Fostering a culture of creativity and forward-thinking in drug development.
• Collaboration: Building partnerships to enhance research and development efforts.
• Integrity: Upholding the highest ethical standards in all operations.
• Excellence: Striving for the highest quality in research and clinical practices.

Current Financial Data

Product Pipeline

TRACON’s product pipeline emphasizes on drug candidates that are in various stages of clinical development:

Strategic Goals

• Advance the clinical development of TRACON’s key product candidates.
• Enhance partnerships with research institutions and pharmaceutical companies.
• Expand on existing funding opportunities to support research initiatives.
• Increase market awareness of TRACON's innovative therapies.
• Commit to sustainability and social responsibility in all operational aspects.

Conclusion of Mission Statement

TRACON Pharmaceuticals consistently strives to fulfill its mission through dedicated research and development efforts, focused on delivering high-quality and innovative treatment options to patients in need.

How TRACON Pharmaceuticals, Inc. (TCON) Works

Overview of TRACON Pharmaceuticals, Inc.

TRACON Pharmaceuticals, Inc. is a biopharmaceutical company that focuses on the development and commercialization of targeted therapies for cancer and other diseases. The company’s mission is focused on advancing innovative therapeutics to address unmet medical needs.

Business Model

The business model of TRACON Pharmaceuticals is primarily based on the development of therapeutic products through clinical trials, leading to potential commercialization. The company utilizes a combination of internal development and collaborations to enhance its pipeline.

Pipeline and Product Development

TRACON's pipeline includes several drug candidates aimed at treating various forms of cancer. Key assets include:

• TRC105 – a monoclonal antibody targeting CD105 for cancer therapy
• TRC 253 – an oral small molecule inhibitor for prostate cancer
• TRC 194 – an antibody-drug conjugate for solid tumors

Current Financial Performance

As of the latest financial reporting in Q3 2023, TRACON Pharmaceuticals reported:

Collaborations and Partnerships

TRACON Pharmaceuticals engages in strategic partnerships to advance its drug development efforts. Noteworthy collaborations include:

• Partnership with U.S. Food and Drug Administration (FDA) for regulatory guidance
• Collaboration with various academic institutions for preclinical studies
• Agreements with other biopharmaceutical companies for co-development initiatives

Market Position and Competitors

TRACON operates in a competitive landscape characterized by various biopharmaceutical entities engaged in oncology. Key competitors include:

• Amgen Inc.
• Bristol-Myers Squibb
• Novartis AG

Stock Performance

As of October 15, 2023, TRACON Pharmaceuticals’ stock (NASDAQ: TCON) recorded a closing price of $1.25, with a market capitalization of approximately:

Future Outlook

TRACON Pharmaceuticals is positioned for potential growth through ongoing clinical trials and expected regulatory milestones. The company aims to expand its product pipeline and enhance its market presence in the oncology sector.

How TRACON Pharmaceuticals, Inc. (TCON) Makes Money

Revenue Sources

TRACON Pharmaceuticals, Inc. generates revenue primarily through the following channels:

• Clinical trials and studies for their products.
• Collaborative agreements with other pharmaceutical companies.
• Research grants and funding from governmental bodies.

Product Pipeline

TRACON is focused on the development of targeted therapeutics for cancer and other diseases. The following table summarizes their main product candidates, their status, and potential market size:

Collaborations and Partnerships

TRACON has entered several agreements to further boost its revenue stream:

• Collaboration with leading pharmaceutical companies for co-development.
• Partnerships with academic institutions for joint research initiatives.

Financial Performance

As of the latest financial report for Q2 2023, TRACON Pharmaceuticals showed the following figures:

Government Funding

The company has received significant funding through grants, particularly from the National Institutes of Health (NIH), contributing to its operational costs:

• NIH grants totaling approximately $1.2 million in 2022.
• Additional funding from state and federal programs.

Market Strategy

TRACON focuses on a few key strategies to enhance revenue:

• Targeting niche markets within oncology.
• Leveraging collaborations for broader market reach.
• Investing in marketing to raise awareness of their therapies.

Future Outlook

The potential for TRACON to generate substantial revenue is primarily driven by:

• Successful completion of clinical trials.
• Regulatory approvals for their key product candidates.
• Increased partnerships and collaborations with larger firms.