TRACON Pharmaceuticals Inc (TCON)

[Bickema]

TCON will need to raise funds soon. Cash runway to Q318 is holding this stock back.

It seems wishful thinking hoping Jensen will exercise their option on TRC253 or TRC694, which would be huge for the stock.

As a reminder if Janssen opts to reacquire the asset prior to or following completion of the Phase 1/2 trial, TRACON will be entitled to receive a $45 million opt-in payment in addition to up to $137.5 million in potential milestones and a low single-digit royalty on any sales.

Of course at this price, Jensen is better off acquiring TCON but I don't know how realistic that is.