# EDGAR Filing Document

**Accession Number:** 0001394319
**File Stem:** 0001564590-23-003673
**Filing Date:** 2023-3
**Character Count:** 11102
**Document Hash:** 53ed12d8a2a8da5a4e370dbaa8b20013
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001564590-23-003673.hdr.sgml**: 20230315

**ACCESSION NUMBER**: 0001564590-23-003673

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230315

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20230315

**DATE AS OF CHANGE**: 20230315

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tracon Pharmaceuticals, Inc.
- **CENTRAL INDEX KEY:** 0001394319
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 342037594
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36818
- **FILM NUMBER:** 23736317

**BUSINESS ADDRESS:**
- **STREET 1:** 4350 LA JOLLA VILLAGE DRIVE
- **STREET 2:** SUITE 800
- **CITY:** San Diego
- **STATE:** CA
- **ZIP:** 92122
- **BUSINESS PHONE:** 858-550-0780

**MAIL ADDRESS:**
- **STREET 1:** 4350 LA JOLLA VILLAGE DRIVE
- **STREET 2:** SUITE 800
- **CITY:** San Diego
- **STATE:** CA
- **ZIP:** 92122

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tracon Pharmaceuticals Inc
- **DATE OF NAME CHANGE:** 20070324

?xml version="1.0" encoding="utf-8"? tcon-8k_20230315.htm

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): **March 15, 2023**

---

| | | |
|:---|:---|:---|
| **TRACON Pharmaceuticals, Inc.** | **TRACON Pharmaceuticals, Inc.** | **TRACON Pharmaceuticals, Inc.** |
| (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) |
| **Delaware** | &nbsp;&nbsp;&nbsp;&nbsp; **001-36818** | &nbsp;&nbsp;&nbsp;&nbsp; **34-2037594** |
| &nbsp;&nbsp;&nbsp; (State or other jurisdiction | (Commission File Number) | (IRS Employer Identification No.) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of incorporation) |  |  |
| **4350 La Jolla Village Drive, Suite 800**<br> **San Diego, California** | **4350 La Jolla Village Drive, Suite 800**<br> **San Diego, California** | &nbsp;&nbsp;&nbsp;&nbsp; <br>**92122** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |
| **Registrant's telephone number, including area code: (858) 550-0780**<br> ____________________________________________________________________________ | **Registrant's telephone number, including area code: (858) 550-0780**<br> ____________________________________________________________________________ | **Registrant's telephone number, including area code: (858) 550-0780**<br> ____________________________________________________________________________ |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.001 per share | TCON | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

---

| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** |

---

(e) On March 15, 2023, the Board of Directors of TRACON Pharmaceuticals, Inc. (the "Company") approved 2023 corporate goals under the Company's annual performance-based bonus program. The 2023 corporate goals consist of financial goals, including budgeting and cash runway goals (weighted at 30%), project-based goals, including clinical development, which are centered around the ENVASARC clinical trial, quality assurance, and regulatory goals (weighted at 60%), and team-based goals, consisting of maintaining corporate culture (weighted at 10%). After the end of the year, the Company's Board of Directors will assess the Company's achievement against the corporate goals, as well as each executive officer's individual contributions towards reaching the corporate goals, in determining awards to the Company's executive officers under its annual performance-based bonus program.

---

| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

---

In connection with recent events, the Company provides the following disclosure of risks related to the Company.

***Adverse developments affecting the financial services industry could adversely affect the Company's current and projected business operations and its financial condition and results of operations.***

Actual events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional counterparties or other companies in the financial services industry or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems. For example, on March 10, 2023, Silicon Valley Bank ("SVB") was closed by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation as receiver. If any of the Company's counterparties to any credit agreements and other financial instruments were to be placed into receivership, the Company may be unable to access such funds. In addition, if any parties with whom the Company conducts business are unable to access funds pursuant to such instruments or lending arrangements with such a financial institution, such parties' ability to pay their obligations to the Company or to enter into new commercial arrangements requiring additional payments to the Company could be adversely affected. In this regard, uncertainty remains over liquidity concerns in the broader financial services industry. Similar impacts have occurred in the past, such as during the 2008-2010 financial crisis.

Although the Company assesses its banking relationships as it believes necessary or appropriate, the Company's access to funding sources and other credit arrangements in amounts adequate to finance or capitalize its current and projected future business operations could be significantly impaired by factors that affect it, the financial institutions with which the Company has arrangements directly, or the financial services industry or economy in general. These factors could include, among others, events such as liquidity constraints or failures, the ability to perform obligations under various types of financial, credit or liquidity agreements or arrangements, disruptions or instability in the financial services industry or financial markets, or concerns or negative expectations about the prospects for companies in the financial services industry. These factors could involve financial institutions or financial services industry companies with which the Company has financial or business relationships, but could also include factors involving financial markets or the financial services industry generally.

The results of events or concerns that involve one or more of these factors could include a variety of material and adverse impacts on the Company's current and projected business operations and its financial condition and results of operations. These could include, but may not be limited to, the following:

• delayed access to deposits or other financial assets or the uninsured loss of deposits or other financial assets; and

• loss of access to revolving existing credit facilities or other working capital sources and/or the inability to refund, roll over or extend the maturity of, or enter into new credit facilities or other working capital resources.

------

In addition, investor concerns regarding the U.S. or international financial systems could result in less favorable commercial financing terms, including higher interest rates or costs and tighter financial and operating covenants, or systemic limitations on access to credit and liquidity sources, thereby making it more difficult for the Company to acquire financing on acceptable terms or at all. Any decline in available funding or access to its cash and liquidity resources could, among other risks, adversely impact the Company's ability to meet its operating expenses, financial obligations or fulfill its other obligations, result in breaches of its financial and/or contractual obligations or result in violations of federal or state wage and hour laws. Any of these impacts, or any other impacts resulting from the factors described above or other related or similar factors not described above, could have material adverse impacts on the Company's liquidity and its current and/or projected business operations and financial condition and results of operations.

Investors should consider carefully the foregoing risks and uncertainties as well as the risks and uncertainties described in the section entitled "Risk Factors" contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the U.S. Securities and Exchange Commission ("SEC") on March 8, 2023, as well as any subsequently filed Quarterly Reports and Annual Reports filed with the SEC.

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: March 15, 2023 | **TRACON Pharmaceuticals, Inc.** | **TRACON Pharmaceuticals, Inc.** |
|  | By: | /s/ Charles P. Theuer, M.D., Ph.D. |
|  | Name: | Charles P. Theuer, M.D., Ph.D. |
|  |  | *President and Chief Executive Officer*<br>|

---