TRACON Pharmaceuticals Announces it Will Wind Down Operations
31 July 2024 - 6:44AM
TRACON Pharmaceuticals (OTCQB: TCON) today announced that the
Company has terminated its employees and will wind down its
operations. This decision was made at a special meeting of the
board of directors.
The board of directors appointed Craig R.
Jalbert, age 62, as the Company’s CEO, President, Treasurer and
Secretary, and sole member of the board. Mr. Jalbert has
served as a principal of the Foxborough, Massachusetts accounting
firm of Verdolino & Lowey, P.C. since 1987. For over 30
years he has focused his practice in distressed businesses and has
served, and continues to serve, in the capacities of officer and
director for numerous firms in their wind-down phases.
Forward-Looking Statements
Statements made in this press release regarding
matters that are not historical facts are “forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Because such statements are subject to risks
and uncertainties, actual results may differ materially from those
expressed or implied by such forward‐looking statements. Such
statements include, but are not limited to, statements regarding
our plans to wind down our operations or other statements not of
historical fact. Risks that could cause actual results to differ
from those expressed in these forward‐looking statements include:
the timing, progress and results of our planned wind down; general
market conditions; and other risks described in TRACON’s filings
with the Securities and Exchange Commission under the
heading “Risk Factors”. All forward‐looking statements contained in
this press release speak only as of the date on which they were
made and are based on management’s assumptions and estimates as of
such date. TRACON undertakes no obligation to update such
statements to reflect events that occur or circumstances that exist
after the date on which they were made except as required by
law.
Company Contact:Verdolino & Lowey, P.C.124
Washington Street, Suite 101Foxboro, MA. 02035Phone -
508-543-1720Tracon@VLPC.com
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