 SAN DIEGO, Dec. 22, 2020 GLOBE NEWSWIRE -- TRACON Pharmaceuticals NASDAQ: TCON, a clinical stage biopharmaceutical company focused on the development and commercialization of novel targeted cancer therapeutics and utilizing a cost efficient, CRO-independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the U.S., today announced that it has entered into a securities purchase agreement with new and existing investors to sell an aggregate of 1.1 million shares of common stock in a registered direct offering at a price of 8.06 per share, which is the five-day average closing price of the Companys common stock as of December 21, 2020. The aggregate gross proceeds to TRACON from the offering are expected to be 8.8 million. The closing of the offering is expected to occur on or about December 22, 2020. 