TRACON Pharmaceuticals, Inc. (TCON) Stock Analysis
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
TRACON Pharmaceuticals, Inc. (TCON) trades at $0.0322. TRACON Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing and commercializing cancer therapeutics. Their pipeline includes clinical-stage products like envafolimab and TRC102, targeting solid tumors and lymphomas. Sector: Healthcare.
Price as of Aug 21, 2026 · Last analyzed: Mar 16, 2026Analyst Coverage for TCON: TCON does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates TCON against Healthcare peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
Not enough scored data yet to form a council read on TCON.
How is this calculated? →TRACON Pharmaceuticals, Inc. (TCON) Healthcare & Pipeline Overview
TRACON Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical firm specializing in cancer therapeutics, including envafolimab for soft tissue sarcoma and TRC102 for mesothelioma. Operating in the competitive biotechnology sector, TRACON focuses on developing and commercializing novel treatments through strategic collaborations and internal research.
What Is the Investment Thesis for TCON?
TRACON Pharmaceuticals operates in the high-risk, high-reward biotechnology sector, focusing on novel cancer therapeutics. Key value drivers include the successful clinical development and commercialization of its lead drug candidates, envafolimab and TRC102. The company's collaborations with 3D Medicines and I-Mab Biopharma could provide financial and developmental support. However, potential risks include clinical trial failures, regulatory hurdles, and the need for additional funding. With a market cap of $0.00B and negative P/E ratio of -0.01, the company's valuation is highly dependent on future clinical and regulatory milestones. The high gross margin of 99.9% indicates strong potential profitability if products reach commercialization.
Based on FMP financials and quantitative analysis
TCON Key Highlights
TRACON Pharmaceuticals focuses on developing cancer therapeutics, including soft tissue sarcoma and mesothelioma treatments.
- The company's lead product, envafolimab (KN035), is a PD-L1 single-domain antibody in clinical development.
- TRC102, a small molecule, is in Phase II clinical trials for mesothelioma and Phase I trials for other cancers.
- TRACON has collaboration agreements with 3D Medicines, Jiangsu Alphamab Biopharmaceuticals, and I-Mab Biopharma.
- The company's gross margin stands at 99.9%, reflecting potential profitability upon successful commercialization.
Who Are TCON's Competitors?
TCON is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ADAPY Adaptimmune Therapeutics plc | $0.03 | +0.00% | $7.16M | 72 |
| RLYB Rallybio Corporation | $16.60 | -2.35% | $88.1M | 81 |
| ICCC ImmuCell Corporation | $10.09 | -0.39% | $91.3M | 77 |
| JNCE Jounce Therapeutics, Inc. | $1.88 | +0.00% | $99.0M | 71 |
| ORMP Oramed Pharmaceuticals Inc. | $4.79 | +0.00% | $196M | 77 |
| CGEN Compugen Ltd. | $2.65 | +8.61% | $251M | 76 |
| NAGE Niagen Bioscience Inc | $3.15 | -0.63% | $251M | 74 |
| ADGI Adagio Therapeutics, Inc. | $4.64 | +0.87% | $506M | 71 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are TCON's Key Strengths?
Clinical-stage pipeline with multiple drug candidates.
- Strategic collaborations with pharmaceutical companies and research institutions.
- Focus on underserved cancer markets.
- Experienced management team with expertise in drug development.
What Are TCON's Weaknesses?
Limited financial resources.
- Dependence on successful clinical trial outcomes.
- High regulatory hurdles and approval risks.
- Competition from larger pharmaceutical companies.
What Could Drive TCON Stock Higher?
Phase II clinical trial results for TRC102 in mesothelioma.
- Phase I clinical trial data for TJ004309 in solid tumors.
- Potential for new strategic collaborations and licensing agreements.
- Continued development of envafolimab for soft tissue sarcoma.
- Cooperative research and development agreement with the National Cancer Institute.
What Are the Key Risks for TCON?
Financial-distress signal — its Altman Z-Score of -44.21 sits in the distress zone (elevated bankruptcy risk).
- Clinical trial failures for key drug candidates.
- Regulatory delays or rejection of marketing applications.
- Competition from established pharmaceutical companies and biosimilars.
- Limited financial resources and the need for additional funding.
- Risks associated with trading on the OTC market, including low liquidity and high volatility.
What Are the Growth Opportunities for TCON?
- Growth opportunity 1: Successful clinical development and commercialization of envafolimab for soft tissue sarcoma represents a significant growth opportunity. The market for soft tissue sarcoma therapeutics is projected to grow, driven by the need for more effective treatments. Positive Phase III trial results and subsequent regulatory approval could lead to substantial revenue generation for TRACON, especially through its collaboration with 3D Medicines. Timeline: Potential FDA approval within the next 2-3 years.
- Growth opportunity 2: Expansion of TRC102 into additional cancer indications beyond mesothelioma offers another avenue for growth. The drug is currently in Phase I trials for solid tumors, lymphomas, lung cancer, and glioblastoma. Positive results in these trials could broaden TRC102's market potential and increase its value. The market for these indications is substantial, with significant unmet needs. Timeline: Clinical trial data readouts over the next 1-2 years.
- Growth opportunity 3: The development of TJ004309, a CD73 antibody, for the treatment of solid tumors presents a further growth opportunity. CD73 is an enzyme that promotes tumor growth and metastasis, making it a promising target for cancer therapy. Positive Phase I trial results could lead to further development and potential commercialization. The market for CD73 inhibitors is emerging, with significant potential. Timeline: Initial Phase I data within the next year.
- Growth opportunity 4: Strategic collaborations and licensing agreements can drive growth by providing access to new technologies and markets. TRACON's existing partnerships with 3D Medicines, Jiangsu Alphamab Biopharmaceuticals, and I-Mab Biopharma demonstrate this approach. Further collaborations could expand TRACON's pipeline and geographic reach. The market for partnering and licensing in the biotechnology industry remains robust. Timeline: Ongoing pursuit of strategic partnerships.
- Growth opportunity 5: Leveraging the cooperative research and development agreement with the National Cancer Institute (NCI) can accelerate the development of novel cancer therapies. This collaboration provides access to NCI's resources and expertise, potentially leading to the identification and development of new drug candidates. The NCI's extensive research infrastructure and clinical trial network can be valuable assets. Timeline: Continuous collaboration with NCI on research projects.
What Threats Does TCON Face?
- Clinical trial failures.
- Regulatory delays or rejection.
- Competition from biosimilars and generic drugs.
- Economic downturn and reduced healthcare spending.
What Are TCON's Competitive Advantages?
- Proprietary drug candidates with patent protection.
- Clinical-stage pipeline with potential for future revenue generation.
- Strategic collaborations with established pharmaceutical companies and research institutions.
- Expertise in developing and commercializing cancer therapeutics.
- Focus on underserved cancer markets with unmet medical needs.
What Does TCON Do?
TRACON Pharmaceuticals, Inc., established in 2004 and headquartered in San Diego, California, is a biopharmaceutical company dedicated to the development and commercialization of cancer therapeutics. Originally named Lexington Pharmaceuticals, the company rebranded in March 2005 to reflect its evolving focus. TRACON's pipeline features several clinical-stage products, including envafolimab (KN035), a PD-L1 single-domain antibody intended for the treatment of soft tissue sarcoma. Another key asset is YH001, an investigational humanized CTLA-4 IgG1 monoclonal antibody being explored for various cancer indications. TRACON is also developing TRC102, a small molecule in Phase II clinical trials for mesothelioma and Phase I trials for solid tumors, lymphomas, lung cancer, and glioblastoma. Additionally, TJ004309, a CD73 antibody, is in Phase I development for solid tumors. TRACON collaborates with companies like 3D Medicines and Jiangsu Alphamab Biopharmaceuticals for envafolimab, I-Mab Biopharma for TJ004309, and Case Western Reserve University for TRC102. The company also has a cooperative research and development agreement with the National Cancer Institute.
What Products and Services Does TCON Offer?
- Develops and commercializes therapeutics for cancer.
- Focuses on clinical-stage products like envafolimab and TRC102.
- Targets soft tissue sarcoma with envafolimab (KN035).
- Develops YH001 for various cancer indications.
- Conducts Phase II clinical trials for TRC102 in mesothelioma.
- Conducts Phase I clinical trials for TRC102 in solid tumors and lymphomas.
- Develops TJ004309, a CD73 antibody, for solid tumors.
- Collaborates with other companies and research institutions for drug development.
How Does TCON Make Money?
- Develops and patents novel cancer therapeutics.
- Conducts clinical trials to evaluate the safety and efficacy of drug candidates.
- Partners with other companies for development and commercialization.
- Seeks regulatory approval from the FDA for its products.
- Generates revenue through product sales and licensing agreements.
What Industry Does TCON Operate In?
TRACON Pharmaceuticals operates within the competitive biotechnology industry, characterized by rapid innovation and high regulatory hurdles. The market for cancer therapeutics is substantial and growing, driven by an aging population and advancements in personalized medicine. Key trends include the development of immunotherapies and targeted therapies. TRACON's focus on novel antibodies and small molecules positions it to potentially capture a share of this market, but it faces competition from established pharmaceutical companies and other emerging biotech firms like APTCF and CKNTF.
Who Are TCON's Key Customers?
- Patients with cancer, particularly soft tissue sarcoma and mesothelioma.
- Oncologists and other healthcare professionals who treat cancer patients.
- Hospitals and cancer centers that provide cancer treatment.
- Pharmaceutical companies that may license or acquire TRACON's products.
- Research institutions and government agencies involved in cancer research.
Company Profile
TRACON Pharmaceuticals, Inc. operates in the Biotechnology industry within the Healthcare sector. It is headquartered in San Diego, US. The company is led by CEO Craig R. Jalbert CIRA. TCON has traded publicly since 2015.
Forward Outlook
Wall Street analysts project TRACON Pharmaceuticals, Inc. revenue of about $29.6M for fiscal 2026, with EPS near $0.06.
Financial Health
TRACON Pharmaceuticals, Inc.'s Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of -44.21 places it in the distress zone, a signal of elevated financial risk.
Key Financial Metrics
Return on equity for TRACON Pharmaceuticals, Inc. stands at 90.2%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -35.5%, showing how much profit it generates from its asset base. A current ratio of 0.89 means current liabilities exceed short-term assets, a liquidity point worth watching.
Insider Activity
The most recent 11 insider filings for TRACON Pharmaceuticals, Inc. break down as 1 sales and 10 purchases. On net that is roughly 419K shares acquired (about $298K) — insiders putting money in tends to read as conviction.
TCON Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis
Bull Case vs Bear Case
Bull Case
- Recent insider buying indicates confidence in TRACON's pipeline and future prospects.
- Community sentiment has shifted positively as investors discuss potential breakthroughs in cancer therapies.
- The company has received attention for its innovative approaches, leading to increased interest from biotech enthusiasts.
- Positive news flow regarding clinical trial updates has bolstered investor optimism.
Bear Case
- Concerns over the competitive landscape in the biotech sector may dampen enthusiasm for TRACON's products.
- Some community members express skepticism about the timeline for FDA approvals, which could hinder growth.
- Market perception remains cautious due to the company's history of fluctuating stock performance.
- Insider selling in the past raises questions about long-term commitment from management.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
TCON Latest News
No recent news available for TCON.
TCON Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for TCON.
Price Targets
Wall Street price target analysis for TCON.
TCON MoonshotScore
What does this score mean?
The MoonshotScore rates TCON 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
Leadership: Craig R. Jalbert CIRA
CEO
Craig R. Jalbert is the CEO of TRACON Pharmaceuticals, Inc. He has extensive experience in the biotechnology industry, with a focus on finance and operations. His background includes roles in corporate finance, investor relations, and strategic planning. Jalbert's CIRA designation indicates expertise in investor relations. He manages a team of 17 employees at TRACON Pharmaceuticals.
Track Record: Under Jalbert's leadership, TRACON Pharmaceuticals has advanced its clinical-stage pipeline, including envafolimab and TRC102. He has overseen strategic collaborations with companies like 3D Medicines and I-Mab Biopharma. Key milestones include the progression of TRC102 into Phase II clinical trials for mesothelioma and Phase I trials for other cancers.
TCON OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that TRACON Pharmaceuticals may not meet the minimum financial standards or reporting requirements of higher tiers like OTCQX or OTCQB. Companies in this tier may have limited financial disclosure and may not be subject to the same regulatory oversight as companies listed on major exchanges like the NYSE or NASDAQ. This tier often includes companies with distressed financials, early-stage ventures, or those that choose not to comply with stricter listing standards.
- OTC Tier: OTC Other
- Limited financial disclosure and regulatory oversight.
- Lower liquidity and higher price volatility.
- Increased risk of fraud or manipulation.
- Potential for delisting or trading suspension.
- Difficulty in obtaining accurate and timely information.
- Verify the company's financial statements and SEC filings (if any).
- Research the background and experience of the management team.
- Assess the company's business model and competitive landscape.
- Evaluate the company's capital structure and funding needs.
- Review the company's legal and regulatory compliance.
- Consult with a qualified financial advisor.
- Understand the risks associated with investing in OTC stocks.
- Established collaborations with reputable pharmaceutical companies.
- Clinical-stage pipeline with ongoing trials.
- Experienced management team with relevant industry expertise.
- Patent protection for key drug candidates.
- Scientific publications and presentations supporting the company's research.
Common Questions About TCON (Healthcare)
What does TRACON Pharmaceuticals, Inc. do?
TRACON Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of novel cancer therapeutics. Their pipeline includes clinical-stage products like envafolimab, a PD-L1 single-domain antibody for soft tissue sarcoma, and TRC102, a small molecule in Phase II trials for mesothelioma.
What are the main risks for TCON?
The primary risks for TRACON Pharmaceuticals include clinical trial failures, regulatory hurdles, and the need for additional funding. As a clinical-stage company, TRACON's success depends on positive clinical trial results for its lead drug candidates. Regulatory delays or rejection by the FDA could significantly impact the company's prospects.
What are the key factors to evaluate for TCON?
Evaluate TCON on fundamentals, analyst consensus, and risk factors. TRACON Pharmaceuticals operates in the high-risk, high-reward biotechnology sector, focusing on novel cancer therapeutics. Not financial advice.
How frequently does TCON data refresh on this page?
TCON's price was last updated on Aug 21, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven TCON's recent stock price performance?
TRACON Pharmaceuticals, Inc. (TCON) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Clinical-stage pipeline with multiple drug candidates. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider TCON overvalued or undervalued right now?
TRACON Pharmaceuticals, Inc. (TCON) has no trailing P/E available here, so lean on price-to-sales and cash flow in the Financials tab. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
How do I research TCON before investing?
Before investing in TRACON Pharmaceuticals, Inc. (TCON), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) analyst consensus ratings and price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding TCON to a portfolio?
Key strength of TRACON Pharmaceuticals, Inc. (TCON): Clinical-stage pipeline with multiple drug candidates. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on publicly available sources and may be subject to change.
- AI analysis is pending and may provide additional insights.