SAN DIEGO, Nov. 29, 2016 (GLOBE NEWSWIRE) -- TRACON Pharmaceuticals (NASDAQ:TCON), announced today the closing of its underwritten public offering of 3,018,750 shares of its common stock, which includes 393,750 shares of common stock issued upon the exercise in full of the option to purchase additional shares granted to the underwriters, at a public offering price of $5.75 per share. The total gross proceeds to TRACON from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are $17.4 million. Jefferies LLC and Stifel acted as joint book-running managers for the offering. BTIG, LLC acted as co-manager. MTS Securities, LLC served as financial advisor to TRACON. The securities described above were offered by TRACON pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission (SEC) on March 31, 2016. A final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available for free on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from either: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 547-6340, or by e-mail at firstname.lastname@example.org; or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at email@example.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.