TRACON Pharmaceuticals, Inc. (TCON) is a leading late-clinical company focused on the development and marketing of cancer therapeutics along with treatment for macular degeneration and fibrotic diseases. Its pipeline candidate is Envafolimab used in treating sarcomas. TRC102 is in Phase 2 trials for lung cancer treatment and TJ004309 in Phase 1 trials for progressive solid tumors treatment.
TCON stock price during the regular trading of March 15, 2022, is slightly up by 1.50% to be $2.7. Its price plummeted at the time of writing in the aftermarket session by 22.2%.
TCON: Key Financials
On March 15, 2022, TCON announced its fourth-quarter 2021 financial statement for the three months ended December 31, 2021. Some key highlights are as follows.
Revenue
No revenue was recorded by the company in the fourth fiscal quarter of 2021 and 2020. The analyst’s estimations for the revenue were $66.6 thousand and the company missed it.
EPS
Net loss (basic and diluted) for the fourth quarter of fiscal 2021 was $7.7 million or $0.40 per share compared to $4.3 million or $0.31 per share in the corresponding quarter of 2020. The company recorded a decline in its earnings over the year. It missed the target EPS by -%0.04
TCON: Events and Happenings
On March 11, 2022, TCON reported the participation of its CEO Charles Theuer at the Oppenheimer 32nd Annual Healthcare Conference being held on March 16, 2022. On March 10, 2022, TCON updated on preliminary patient dosage following the FDA’s endorsement regarding the modified ENVASARC protocol.
On February 02, 2022, TCON issued a statement regarding the initiation of Phase 2 TRC102 along with chemoradiation in patients with NSCLC by the National Cancer Institute. On January 05, 2022, TCON informed about the presentation of its CEO at the Virtual H.C. Wainwright BIOCONNECT Conference held on January 10-13, 2022.
Conclusion
TCON stock showed a bearish trend during the past year as its stock down-performed by 70%. The company’s stock is declining in the aftermarket as it provided updates on its earnings and missed both revenue and EPS targets.
