TRACON Pharmaceuticals terminates ENVASARC trial due to insufficient response rate, explores strategic alternatives.

TRACON Pharmaceuticals has terminated its ENVASARC trial, citing a 5% objective response rate by blinded independent central review in 82 evaluable patients, falling short of the 11% primary endpoint. The company will now explore strategic alternatives, including a reverse merger, acquisition, asset sales, licensing, or other strategic transactions, leveraging its in-house product development platform.