SAN DIEGO, July 21, 2021 (GLOBE NEWSWIRE) -- TRACON Pharmaceuticals (NASDAQ: TCON) (“TRACON” or the “Company”), a clinical stage biopharmaceutical company focused on the development and commercialization of novel targeted cancer therapeutics, today announced that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 3,926,702 shares of common stock of the Company at a price to the public of $3.82 per share, less underwriting discounts and commissions. In addition, the Company has granted the underwriter a 30-day option to purchase up to an additional 589,005 shares of common stock at the public offering price, less underwriting discounts and commissions. The closing of the public offering is expected to occur on or about July 26, 2021, subject to satisfaction of customary closing conditions.

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TRACON Pharmaceuticals Increases Previously Announced Bought Deal Offering of Common Stock to $15.0 Million