TRACON Pharmaceuticals Reports Granting of Inducement Awards

SAN DIEGO, Jan. 18, 2018 (GLOBE NEWSWIRE) -- TRACON Pharmaceuticals, Inc. (NASDAQ:TCON), a clinical stage biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer, wet age-related macular degeneration and fibrotic diseases, today announced that it has issued an inducement stock option to a new non-executive employee.

TRACON issued a stock option to purchase an aggregate of 11,600 shares of the Company’s common stock to a new non-executive employee on January 17, 2018. The option was granted in accordance with NASDAQ Listing Rule 5635(c)(4) under the TRACON Pharmaceuticals, Inc. 2015 Equity Incentive Plan (the “2015 Plan”). The option has an exercise price per share equal to the closing price of one TRACON share on the Nasdaq Global Market on the date of grant. The option vests over four years, with 25% of the option shares vesting on the first anniversary of the date of grant and the remaining 75% of the option shares vesting in monthly installments over the three years thereafter. The option has a ten-year term, and is subject to the terms and conditions of the 2015 Plan and applicable stock option agreement.

About TRACON

TRACON develops targeted therapies for cancer, ophthalmic and fibrotic diseases. The Company’s clinical-stage pipeline includes: TRC105, an endoglin antibody that is being developed for the treatment of multiple cancers; DE-122, the ophthalmic formulation of TRC105 that is being developed in wet AMD through a collaboration with Santen Pharmaceutical Company Ltd.; TRC102, a small molecule being developed for the treatment of lung cancer and glioblastoma; and TRC253, a small molecule being developed for the treatment of prostate cancer. To learn more about TRACON and its product candidates, visit TRACON’s website at www.traconpharma.com.