TCON - Earnings call transcript Q4 2020 | TRACON Pharmaceuticals, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to TRACON Pharmaceuticals' Fourth Quarter and Year-end 2020 Earnings Conference Call. [Operator Instructions] During today's call, we will be making certain forward-looking statements, including statements regarding expected timing of clinical trials and results, regulatory activities, future expenses and cash runway and/or development plans and strategy. These statements are subject to various risks that are described in our filings made with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2019, and subsequent quarterly reports on Form 10-Q.

You are cautioned not to place undue reliance on these forward-looking statements, and we disclaim any obligation to update such statements.

Now I would like to turn the call over to Dr. CEO Pharmaceuticals. and President Theuer, of TRACON Charles Dr. Theuer?

Charles Theuer

and Thank year update XXXX joining TRACON's our call. recent and full fourth quarter pipeline on financial update will with you review begin our activities. for I an then results and business

Scott Financial Officer, Brown, results our will ended year Chief months X the and our December that, review financial Following for XX, XXXX.

by taking your conclude questions. will we Finally,

in trial. the efforts to subtypes myxofibrosarcoma approval focus ENVASARC ENVASARC is continue pivotal potential and designed development pleomorphic Our of undifferentiated the envafolimab sarcoma of UPS, sarcoma allow to on or MFS. or

initiated of enrolled U.S. we sites December, patients that During XX Currently, have we sites. dosing multiple has year. continued this where initiated at patients have we multiple multiple

XX U.S. sites to expect We by initiating achieve our of April. goal

potential second objective for or or The refractory envafolimab rapidly PD-LX checkpoint includes the Votrient, objective prior pivotal convert radiographic and by the a second cohort, and of unmet objective trial therapy. inhibitor have only primary in combination out of of clear cohorts who rate key receptor and reminder, received endpoint UPS both which UPS rate may by a response central being the and on in objective envafolimab, the administration. clinical patients targeting example and an X cohort its which by specifically cohort of rate. secondary of with each study, the convenient response X% patients a a is XX.XX% a BMS. response review, Yervoy, In to receives level treatment with independent of The that is exclude only inhibitor, enrolls ENVASARC is confirmed an progressed has additional envafolimab route with have responses each. checkpoint checkpoint prior reiterate, benefit MFS, X as with CTLA-X lines One X one objective marketed MFS. for unfortunately, To XX virtue clinical inhibitor not treatment XX The of receives satisfies primary trial duration MFS a single-agent cohorts independent approved X defines subcutaneous best-in-class known delivered As rate indication RECIST, demonstration UPS a response of treatment the of approved review of response blinded the response the endpoint. by is need. confirmed is X% of refractory This and by high

combination who presented checkpoint and At Alliance sarcoma an presented investigators impressive XX conducting over be of XXXX, demonstrated the XX% reported Yervoy. and on based the Keytruda data independent including spent that X be refractory ASCO in product studying with confirmed reported ASCO antibodies quarters. Oncology Opdivo in Yervoy, PD-X inhibition in in development CRO soft subtypes highly perspective, trial for XX% will paying responsive TRACON's single a and UPS are designed build Yervoy The with subtypes at estimate MFS of refractory ENVASARC at received ASCO UPS pivotal cost UPS on this XXXX rate data patients in Clinical was and single-agent for Trials with to objective upon response data UPS, rate from the million that agents We will showing because From XXXX. response for the trial we sarcoma and These a combination and based MFS the they're highly than tissue XXXX, ASCO in using PD-LX as of MFS. activity financial platform, next $XX and to patients. less

year. milestones envafolimab multiple expect this We

data recommendations evaluations half expected XXXX. safety in the report First, by intend the of committee first interim to monitoring independent we following

of half assessment data response the designation first part of year application. this submitting we Second, orphan early the in as anticipate drug our to FDA

we Third, line submitting be could a a this breakthrough data interim efficacy presented the the in the data year. of we Fourth, scientific a half basis at designation. will of data data availability FDA release. therapy those interim These in efficacy be request for be top summarized second expect ENVASARC conference expect the to or could for

MSI-high partners, we and response U.S. clinical could anticipate trials, a Oncology, Looking allow approval including forward, in are Alphamab the product by XXXX, and the for believe our U.S. in cancer conducting assessment China for TRACON's pivotal reporting this submitted NMPA in for in data year. this they to December sarcoma the if in envafolimab data, XXXX, Returning the In in parallel, positive additional approved, for accelerated approved BLA launch submitting XD in was in final envafolimab and year. be corporate Medicines China earlier could indications. assuming X trials China, approval in multiple application accepted XXXX. later in In review development that, priority We

approved could revenue rate forecasted could FDA a annual and XX%. refractory peak dual for adoption treatment. profile: to MFS. Notably, concluded U.S., Opdivo MFS, further was objective MFS as approximately and be and is for of market Yervoy been the subtypes $XXX and single assessment believe one million and in $XXX for parity market approved when $XXX envafolimab million refractory the of which be that than inhibition label total a or UPS Our which responsive XX% response for assessment, sarcoma sarcoma agent in dedifferentiated UPS We Envafolimab combination annual shown U.S. using such relatively rate sales combined or checkpoint it rapid refractory first-line a also product Yervoy, of a assuming to into UPS rate compendia as generate target envafolimab, MFS. will compare increase combined to to with The should with XX% Opdivo. could expansion peak revenue response inhibition checkpoint when if with UPS checkpoint million to part favorably pricing additional in soft that in advanced inhibition have other angiosarcoma, Keytruda response rate through dual the treatment an other the listings of alveolar liposarcoma, be revenue and refractory rate into response and the with generate subtypes our and X% envafolimab's Yervoy sarcoma the

the expect response this with assess to chemotherapy a could quickly a and to The priorities dose immuno-oncology another business CTLA-X proprietary first-line is trial. include Given of is CTLA-X envafolimab development limited could potential XX%, year The of inhibitor pivotal later Yervoy inhibitor. doxorubicin, sarcoma or our only and be of in one envafolimab licensing combination combination inhibitor CTLA-X Phase as a trial the to into trial asset. another we a doxorubicin then move in scope I safety

prior be We an in GIST, trial by revenues following and increase or inhibitor neoadjuvant in We in for approved could discussing adjuvant gastrointestinal believe over surgical expansion to sales of resection in the clinical are surgical also first-line a treatment tumor, label that envafolimab treatment sarcoma. may $X to stromal GIST, in third setting resection just parties. funded thorough well as sarcoma, as substantially with including billion c-KIT

certain inside small While clinical-stage is The envafolimab by pathway DNA TRCXXX, in pathway we candidate, hypothesis to excision the alternative silencing our the is other support stage a showed the our most that is to prolonged to was advanced second Cancer death. to treatment repair of tumor progress reported basic TRCXXX single-agent inhibition repair MGMT reverse of colorectal to with meaning inhibitor Inhibiting colorectal TRCXXX TRCXXX. chemotherapeutics. caused novel patients repair of effect to sensitivity molecule And postulated in clinical continue including intended cancer. to DNA deficiencies in article December excision ongoing excision lethality, Detailed DNA resistance cancer who patient's colorectal repair with profiled enrolled. asset, the this the product that assets. induce part nearly on response is DNA-based Cell and for XXXX. for cancer Temodar in near-complete TRCXXX for with Temodar pathways, a as molecular data of publication patient of Temodar synthetic treated a base was demonstrated response X exceptional combination Further notable cell XX analysis have repair The journal years. an resulted subsequently responders and in to in the may typically inactive a as NCI TRCXXX of led

response, previously and demonstrated of responded of deficiency single none patients, and glioblastoma to study MGMT-deficient XX X on a MGMT Temodar and therapy. for the patients about While progressing MGMT patient TRCXXX. TRCXXX also treatment deficient with Society and glioblastoma prior Temodar patients the with at when a MGMT-expressing treated is X/X that of the survival Temodar observed in XXXX radiation reported and Neuro-Oncology after TRCXXX demonstrated prolonged with Temodar had in

October XXXX, malignant Temodar, designation development based Notably, data the was expect NCI and orphan in glioma granted TRCXXX and in that warranted. FDA We a trial believe includes in first-line by by these further glioblastoma is glioblastoma. the of in radiation therapy on setting drug TRCXXX the

sponsorship trials, chemoradiation through checkpoint protein showing using TRCXXX status also We Alimta, in a and like is expression We based rate study ASCO biomarkers cisplatin in with double-strand XXX% presented clinical expect assessment NCI IMFINZI disease at DNA in thoracic XX% a localized to not of lung a an approved in response. future to TRCXXX inhibitor, with of non-small and in combination with XXXX, IMFINZI, in XX believe data response therapy in localized advance chemotherapy with a the and that or patients to for combination of on advanced radiation of resulted that goal of in lung rate PD-LX with now we TRCXXX continue chemoradiation of to clinical has unresectable focus these with trial ongoing favorably X continue chemoradiation an patients the repair trials lung to rate PACIFIC In concurrent response gene advanced non-small in non identifying and patients MGMT including [indiscernible] profile therapy will warranted. and prior localized reported objective following patients These complete reported patients, objective a cancer. who trial is on with progressed PROCLAIM these cell clinical response The response, whose cancer, cell correlates had the treatment. XX% compare of chemoradiation. data cancer, response radiation.

CDXX asset clinical-stage is I Tecentriq. in agent checkpoint antibody, TJXXXX single as combination the with a Phase inhibitor evaluated a that study third and is an ongoing dose-escalation being Our in

of responsible in our with regulatory in million. of and clinical month, the TJXXXX strategic U.S. and Biopharma sent which fee them, I-Mab We development through with one to a are $X collaboration early TJXXXX a are terminate the X notice developing whereby the I-Mab of we for prespecified TJXXXX termination owing us I-Mab us will result agreement, in this Earlier purporting agreements Europe.

to them, with a right not been has to and not terminated trial presenting are from non-royalty escalating We, trial license obligations. in the I-Mab TJXXXX I to contractual until TJXXXX outside does therefore, perform Phase to is without TJXXXX Phase continue TJXXXX ongoing data terminate Macau I China, the elects and we of interim I-Mab Per agreement our receive at portions third the payments entitled ongoing complete. agreement We However, license region of cause a scientific or the if in a conference that mid-XXXX. have agreement believe to party royalty anticipate any Taiwan.

of analysis cash purchased ENVASARC extend raised pivotal accomplished placement through a common the approximately million transactions market During to stock and of second into and total investors, the investor, Management Aspire interim the Capital, for new the at price half base. $XX our existing for these and at aggregate Asset XXXX. welcomed fund the $XX registered million. of we collectively runway Watermill anticipated direct to trial fourth Collectively, proceeds included quarter, past was our and who expected new that the shareholder Ikarian, market a Opaleye are Capital prices This [FiveT], approximately

the financials. XXF the index fourth In quarter initiated will time, XXXX this an addition, TRACON Scott filings. for institutional on our provide in positions funds update At in

Scott Brown

the million and administrative compared and quarter good for were manufacturing to million you, development the lower $XX.X of compared clinical in for for to comparable of ended $X.X were to program $X periods XX, XXXX. $X.X the year to The April XX, for attributable research fourth decrease for the for $X XXXX, the was and Thank ended the the and expenses million Charles, primarily everyone. million related XXXX. $X.X and the December and XXXX. General and of and $X.X TRACON's comparable fourth quarter periods million million trial December termination afternoon, million $X.X TRCXXX year expenses expenses million of XXXX,

XX, Our XXXX, the for fourth the of $X.X million million for quarter December the year $XX.X and net comparable XXXX. loss was to million periods XX.X million ended $X.X for compared and

$XX.X totaled balance compared to at million equivalents XXXX. Turning sheet. XXXX, to At the December cash, XX, XX, December our and cash $XX.X million investments

resources I be back XXXX. capital turn current the sufficient operations to We to over the second to will planned that, expect into of Charles. call our fund our With half

Charles Theuer

execute development To product shareholder capital candidate, a our plan continue you, from around recently and base diversified extended our further to we runway recap, through envafolimab, our existing lead Scott. investors Thank cash new our raised clinical and investor. and

approximately We have ENVASARC at patients multiple represent clinical the of cancer XX most initiated top sites now enrolled sites, and centers. U.S. which multiple

updates safety and the an assessment half the year the efficacy year. half of expect in of We second in first this interim

rapidly subcutaneous important Addressing investigators, as a expeditiously and possible. One of to is about need the goals convenient delivered to therapy unmet ENVASARC excited fast-to-market of and interim as therapy potential year-end opportunity efficacy data. need new We key patients remain of a high route provide is significant this request our sarcoma administration. to based they clearly designation clinical envafolimab to breakthrough in on trial believe envafolimab's by provides ENVASARC

capital to past for rapidly patients fund We demonstrate we confident are and forward strategy your for expected could efficacy months remain attention, time envafolimab believe the be development of our updates available capital to to providing right standard in plans to for will the we coming the you your ENVASARC and place in Importantly, data, sufficient for sarcoma look the that the patients. and our of further interim business have on answer now recent care refractory which deliver transform Thank we and and shareholders. to raise questions. the the potential benefit

Operator

Jefferies. line [Operator Instructions] of with Raycroft comes question from the Our Maury first

Maury Raycroft

progress. team, the congrats and on Charles

will First share is with of And review? DMC whether review? triggers patients I information it's after amount a on a amount certain certain follow-up you review. what that enrolled of triggers the just question the and the guess what DMC the specific

Charles Theuer

enva as independent been interim and data and of as cohort there patients for period of recommendation. just will, their those for do question. time, the months. XX% B monitor being point set safety your on about cohort what no if committee safety. kind evaluate you They'll patients new report we to public X agent, will based Maury, are significant ones, out, of cohort, trial, that on single to plus month the XX% to always, about that And thanks the study you overall are after enva ipi, a there's ENVASARC several each Yes, for approximately assessments, also ensure the signal. first have from is A X And

would further Our well. And as be they'll anticipation around indicate would any that trials the signal, that should proceed planned. that as if we disclosure there's safety disclose any

Maury Raycroft

Got it.

each you if then decides patient should into provide the perspective into how And enrollment can And the going if cohort whether combo Okay. monotherapy more or the go how talk about can is cohort. any you for cohort. a site

Charles Theuer

Sure. Yes.

B. or across the then based as And study, all cohort Maury, is to eligibility cohorts on allocation we patient So patients when the soon in randomized criteria, both a you'll have cohort on either X:X of at that are sign A randomization. equal off randomized times so formally it's whereby a study, enrolled they as --

Maury Raycroft

Got it.

site enrolling And cohorts hence? is Okay. for both each

Charles Theuer

unique response that you except compare of any the how trial about X% randomized cohort both cohorts assess randomized machinations Correct. but of would as they each independently so cohort next Once be compared it be forward, ENVASARC, X% have in typical the an chance to terms rate randomization versus sequence cohort randomized, rate is you be the control compare What's each to response that low of the patients. actual of Yes, going the don't site randomized of patient, would study. done Votrient. go trial, cohort, a to will is will and But Votrient. independently either for equal it patient it's like assess and

Maury Raycroft

it. Got

balance last Okay. either of on and MFS just And good it and question you're patients, skewed this whether to or then is UPS subtype is does getting a matter?

Charles Theuer

Great Maury. Yes. question,

with about enrolled that the relates And to each and histology UPS over be would I in say UPS of the prevalence diseases overall enrolling favor thus MFS X:X the diseases. I aggressiveness and of of would also in expect rough of far. balance the So MFS. actually yes, the both patients Overall, we're type overall X would

of expect on is that their to that about UPS important And histology. stratified are ratio one point again, X:X MFS. the So based other patients on

be balanced equal UPS there or numbers both and will So cohort say, I numbers, in of should MFS patients cohort and A B.

Operator

Maxim question Group. comes next Our McCarthy with of the line Jason from

Unidentified Analyst

some term? in initiating Jason. guys on perhaps just evaluating setting up on you guys near Dave shed the if for guys and like Can you you It's trial I or the have line plans [indiscernible] a TRCXXX any had while light idea plan line. know wondering ago, in have if setting that maybe that I maybe was guys still you an is term, just near the further or you trial but this on new like the if might a guys up down on

Charles Theuer

question, the Yes. appreciate I Dave.

So TRCXXX by very continues embraced the be NCI. to enthusiastically

And continue have so to ongoing CRADA. an we

to fact, them, In continued those GBM. the showing interest the of with one by X renewed develop interest, NCI And the significant CRADA there's with that to is respect indications XXX. just we

were terms plus of activity some where was is activity in that And retreated sparked we MGMT GBM interest, Temodar trial certain trial remarkable in that was Temodar-failure patients refractory was the what In that there. with really negative. saw seen the TRCXXX, patients with biomarkers, it they

into we make So based and on be see move on really the to GBM, setting. patients. where first-line data, an advance would TRCXXX in NCI we continue need to to do our goal That's expect GBM that impact will it

first-line care, add Temodar to GBM which XX a say, radiotherapy, trial do would without And investigators are think, standard a those assess that And that it that MGMT patients, you who initially rate, patients pilot makes to study, by also in patients or TRCXXX. would TRCXXX. of is would say who would Temodar is the lot be study, And would where the a based this on be then response of pivotal and randomized we getting sense. are I design, rate. would potentially So several with non-expressors shared lead and radiotherapy response you

So that expectation. XX that's to move to our be pilot something forward of that patients that expectation this like -- a first-line in our of design, setting trial see see type would GBM about of year typical some

Unidentified Analyst

to then that's expectation in So that's at like, expect happen right? some -- sounds so can to we fair then, that a it XXXX, point have

Charles Theuer

Yes.

We be clear, therapies CTEP, ideas for has To there there. we and there's like CTEP anything. need, that need will TRCXXX advanced those a can't are new quite some those therapy make of the patients. say expect But remains potentially guarantee an to offers through would unmet GBM types still would say severe. I be what those I the given decisions. incredible

be move see Our to expectation forward this would that year.

Unidentified Analyst

to envafolimab. possibility Okay. then could gears switch I you just of checkpoint question, the besides Great. line Are And if combination any here considering with any trials down additional potential one just other Yervoy? the inhibitors

Charles Theuer

Yes.

at think takes literally administered as a best-in-class a envafolimab injection. kind we therapy seconds It is backbone subcutaneously look XX of I X.X cc. feel that a It's therapy. it's we a and

flu us build portfolio that is our therapy then having to allows it upon that. So a like And really shot. getting in

makes give greatly I platform, either can or see terms who we're even of with with unproven now we that independent of combined a But that platform think attractive fact mechanisms, type and development partner. speed been with have that basis can on that's envafolimab. develop our it an deals So for partner will, most how want And those which for we've of to We now companies we development. for an more with instance, in therapies very those we I'll in the product cases, we for prospect a course And example really platform development. currently. you are attractive the proven done do checkpoint our I combine think CRO enva the it around with speed other Yervoy inhibitors,

later, It completed I pivotal December in to had than it's United XXXX, would important are envafolimab a trial. That of think the Phase in call, performance. Less licensed December I we testing year is, I a XXXX. we remember, dosing just States. only evidence in

major we assets portfolio, for we we with our We're could our partnering so add And portfolio in additional to very do now enva that to our feel a advantage have potential to platform complement envafolimab it that eager towards partners. registration. and is have path that a

Operator

from question, Maxim. with our Jason again, And McCarthy next

Jason McCarthy

I Dave signals our and got crossed.

-- some So he asked actually yes, good he questions.

lot we've but and seen Just sticking respond means. TRCXXX, but yourselves the can not move call them by That's new, therapy, -- purely to thinking -- physicians just about likely MGMT, it the They're patients to drug. knowing stratified would Agile that you that they're to of Agile -- the is to start something when trials a experimental this they doing the to from new going Is in consider they an category whatever that just with what cycle you TRCXXX versus of a separate going diagnosed? that this not not try Temodar it's after one forward, that program. newly recurrent that purely

Charles Theuer

It's great thought, Jason. a

data a last in clearly to year have design We resensitized TRCXXX. Alimta haven't when it There chemotherapy reported also be certain patients be retreat yet. trial that plus seen Alimta resensitized with you that Alimta that But respect were with can that We've at at fail Temodar patients. like TRCXXX could plus ASCO we Temodar failures TRCXXX. seen with done that

clunky an So make definitely integrated something should and in with do in trial to as of But we sense, sort more what about. that, addresses investigators. way, perfect it a sense a talking you're would discuss it's

Jason McCarthy

like? look understanding and And my you're follow-up you double. remind the you like above you Votrient looking still opportunity, goal the a though rates having Can you're Because those ENVASARC-related on response what just even the Yervoy, about need even get there, as everybody for to -- the mono, with going combo if but and still just was X shots that in questions. all to could

bit understand more? can Just us just you that a little help

Charles Theuer

X we rate positive compared really the XX for each for is that Sure, response bar within to or important rate cohort say -- that means which trial, I XX.XX% that, the trial of mitigation consider response X% which Jason. that independently independently. I Votrient, important each -- risk is an bar it's should rate, of cohort cohort is the response independently an for each responses a No, exists think

be because cohorts expect feel a in there's positive, which meet built it have a UPS but will to B be do the for with compared could way to we does So basis that rate. is positive cohort that we refractory MFS, your But to is risk it be other. be Yervoy, the be and response not endpoint the not into would is is the of Votrient, and to given A and both trial what and does meet actually cohort the used each still endpoint trial that basis for enva expected each mitigation to cohort higher point, approval

Operator

[Operator from Instructions] with BTIG. Hazlett question the line Our comes Bert of next

Bert Hazlett

sarcoma, little a about how various busy a with talk the your thinking 'XX. framed billion? more Could you prepared $X of and the moving kind get refractory you're the a million bit terms those beyond little about during in a more could you the of detail I pacing in Q&A, just of even towards the kind bit opportunities during give does $XXX Yes, and of think you more just like beyond granular it? started but enva detail? Charles, it little look it and You've the to the opportunities comments,

Charles Theuer

first-line but what feel would UPS, really is the other Yes, potential be is we appreciate faster And I that's to we market most the subtypes. do feel feel Bert. exciting that area we MFS sarcoma one it, therapy. penetrate probably the there's great enva strategy, for No,

show points. a as us as fairly in think in that maybe UPS, is refractory that in it inhibition MFS. the all here, my data dual But good UPS, I I thing nice briefly XX% beyond sarcoma, the And One mentioned comments generates just all first-line with sarcoma a ever to response sarcoma. that, checkpoint as seen they in rate. doxorubicin best chemotherapy. But that's was chemotherapy. is combine that's MFS, response mean about rate. I subtypes, important checkpoints response really was we've refractory generally well Alliance X The XX%

So and another of starting potential enva enva enva-ipi, we do to the this expect pivotal with objective study without likely to and combining show ipi with with into proprietary trial would before without CTLA-X dox, antibody. be be with antibody with dox could be enva or or plus another or of, year a end say, with or dox would that CTLA-X tolerability then or or dox lead dox a enva without potentially

our is know do It's program. perspective. to market. rate-driven dual checkpoint clearly, and highly view, that given indication randomized our But first-line study. entire the that and can to needs real to of the actually that And be goal are as that So a sarcoma, you a to you sarcoma get rate effective. very It's patients inhibition through the a in all chemotherapy subtypes inhibition in clear, within those sarcoma require, But the a responsive from response trial. first checkpoint line, very trial of be actually lot it's, effective in as are to is done, response

to this roll expect that out year. see So trial

response GIST. area in effective, prolong They The dominant the very don't interest lot of high generate other inhibitors they rate, And we GIST, in have care, are is standard a very survival. though. and a actually c-KIT of they're

could And forward the as then is potentially well. we we a GIST. inhibitor target a of Through c-KIT interest, and we pivotal in move response rate an so study into indication view our as combine single-arm there study, with

think to goal we sure So dosed chemotherapy thoroughly has a guess I I be sarcoma. what ipi, with all penetrate the make every inhibitor, checkpoint is, and either really will to sarcoma me majority our enva, another do, patient or CTLA-X X. it's with if you ask opportunity or deserves the

Bert Hazlett

Is timing, how a what timing. this Is this? 'XX see terms after of you effort, frame terms in do out? the of -- Just then And just data? 'XX, late further you in the this

Charles Theuer

one be year, in expect be Sure. and that the trials the would would X top other think on Yes. to No, we doxorubicin. this start ENVASARC with sarcoma GIST I in of

realize particular So I but of really those trials I there's when those our things. is be use enva to one -- expanded enva a sponsorship just say, committed say thing. you or with give, sarcoma number patients, I complete get an other in it just Phase it's sponsorship through how the to But a you thing investigator paradigm It's in cohort X some is, year. interest But do sarcoma would these shift would community. early see open not that's efficacy. also of is really expect because to sponsored, safety, and just this the lot easy to investigator We've understanding for And better investigators. a either once it

Operator

As Instructions] to like Theuer I the turn closing Dr. for no are call over remarks. to further [Operator questions, back would there

Charles Theuer

attention. really to Well, look we next forward for with and I'd thank everyone like your just and talking you quarter. the to Stay time We appreciate safe. questions,

Operator

concludes Ladies call. today's you and conference Thank this participating. gentlemen, for

You now may disconnect.

TRACON Pharmaceuticals (TCON) 27 Feb 212020 Q4 Earnings call transcript