TRACON Pharma Terminates Development Of Envafolimab; To Focus On Strategic Alternatives

(RTTNews) - TRACON Pharmaceuticals (TCON) said the objective response rate by blinded independent central review in the fully enrolled ENVASARC pivotal trial in the 82 evaluable patients is 5%, which is lower than the primary endpoint of the study of 11% ORR by BICR needed to support a biologics license application. As a result, the company is terminating further development of envafolimab.

TRACON Pharmaceuticals said it is focusing entirely on exploring strategic alternatives in the near term that may include, but are not limited to, a merger, reverse merger, acquisition, other business combination, sales of assets, licensing or other strategic transactions involving the company.

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