An update from TRACON Pharmaceuticals (TCON) is now available.
TRACON Pharmaceuticals, Inc. is undergoing significant changes as it winds down operations, including a substantial reduction in its workforce effective July 31, 2024, with expected charges of approximately $1.7 million. Following unanimous board approval, the company is moving towards dissolution and liquidation, pending stockholder consent. Concurrently, several board members, including the President and CEO, have resigned, with new appointments including Craig R. Jalbert as President, CEO, and sole board member, to oversee the company’s wind-down process. Jalbert, an experienced professional in managing distressed businesses, will be compensated for his role in steering the company through its final stages.
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