TRACON Pharmaceuticals Announces Closing of Public Offering and Full Exercise of Option to Purchase Additional Shares

SAN DIEGO, Nov. 29, 2016 -- TRACON Pharmaceuticals (NASDAQ:TCON), announced today the closing of its underwritten public offering of 3,018,750 shares of its common stock, which includes 393,750 shares of common stock issued upon the exercise in full of the option to purchase additional shares granted to the underwriters, at a public offering price of $5.75 per share. The total gross proceeds to TRACON from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are $17.4 million.

Jefferies LLC and Stifel acted as joint book-running managers for the offering. BTIG, LLC acted as co-manager. MTS Securities, LLC served as financial advisor to TRACON.

The securities described above were offered by TRACON pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission (SEC) on March 31, 2016. A final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available for free on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from either: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 547-6340, or by e-mail at [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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.; and TRC102, a small molecule that is being developed for the treatment of lung cancer and glioblastoma. The Company is also developing two programs in-licensed from Janssen Pharmaceutica N.V. – TRC253, a small molecule inhibitor of wild type androgen receptor (AR) and multiple AR mutant receptors that may display drug resistance, which is intended for the treatment of men with prostate cancer, and TRC694, a small molecule inhibitor of NF-kB inducing kinase (NIK), which is intended for the treatment of patients with hematologic malignancies, including myeloma.

Company Contact:		
Casey Logan			
Chief Business Officer		
(858) 550‐0780 ext. 236		
[email protected]

Investor Contact:
Andrew McDonald
LifeSci Advisors LLC
646-597-6987
[email protected]