FX.co ★ TRACON Pharma Terminates Development Of Envafolimab; To Focus On Strategic Alternatives

TRACON Pharmaceuticals (TCON) announced that the objective response rate (ORR) determined by blinded independent central review (BICR) in the fully enrolled ENVASARC pivotal trial involving 82 evaluable patients is 5%. This ORR falls short of the study’s primary endpoint of 11% ORR by BICR, which was required to support a biologics license application. Consequently, the company has decided to discontinue further development of envafolimab.

TRACON Pharmaceuticals has declared its intention to focus exclusively on exploring strategic alternatives in the immediate future. These alternatives may encompass a variety of options, including but not limited to, a merger, reverse merger, acquisition, other business combinations, sales of assets, licensing, or other strategic transactions involving the company.

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