TRACON Pharmaceuticals Inc (TCON)

[oldstocks]

TJ.. i posted this yesterday on another board
We bought TCON in hopes to make a profit.
I bought as high as .3089 and as low as .1862
I am not worried i am just waiting for the fluctuations. TCON is now heavily shorted.
They will have to buy back shares.

Tracon the company said it has licensed its proprietary PDP of CRO-independent clinical research to a clinical-stage biotech firm for a $3M upfront payment.

Latest news with Inhibrix is a big deal.

Under the deal, TRACON granted a non-exclusive and non-transferable license of its PDP to the clinical-stage biotech company for the design, conduct, and administration of clinical trials and related research and development activities, among others.
“We are now in a position to widely license our PDP to allow clinical-stage biotechnology and pharmaceutical companies to transform their clinical operations with the expectation of potentially dramatic cost reductions and shorter clinical trial timelines,” said CEO Charles Theuer.

About Inhibrix
Ticker INBX $20.54
$337 million in cash, so they have the money for the $3 Million deal.

https://inhibrx.com/wp-content/uploads/2023/11/Inhibrx-Presentation-Nov-2023.pdf

On November 17, 2023 (the “Effective Date”), Tracon Pharmaceuticals, Inc. (the “Company”) entered into a License Agreement (the “Agreement”) with Inhibrx, Inc. (“Inhibrx”). Under the terms of the Agreement, the Company granted a non-exclusive and non-transferable license of its product development platform to Inhibrx for the design, conduct and administration of clinical trials and related research and development activities, including activities relating to regulatory filings, submissions and approvals (the “Tracon PDP License”). The Tracon PDP License will allow Inhibrx to use the Company’s configuration documentation with a widely used software package in addition to use of the Company’s validation and qualification of the software package, and the Company’s standard operation procedure documents, policies, work instructions, and clinical operation templates (the “Licensed Technology”). Upon Inhibrx’s request during the first six months after the Effective Date, the Company is obligated to provide up to 500 hours of training (“Technical Support”) to Inhibrx. Pursuant to the Agreement, Inhibrx will make an upfront payment of $3.0 million to the Company, plus a potential $0.2 million (i) upon the completion of the Technical Support by the Company, or (ii) six months following the Company’s delivery of the Licensed Technology, whichever is earlier.