Opaleye Management Inc. - Dec 1, 2021 Form 4 Insider Report for Tracon Pharmaceuticals, Inc. (TCON)

Role: 10%+ Owner
Signature: /s/ James Silverman
Stock symbol: TCON
Transactions as of: Dec 1, 2021
Transactions value $: $256,385
Form type: 4
Date filed: 12/7/2021, 03:05 PM
Previous filing: Nov 19, 2021
Next filing: Dec 20, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TCON	Common Stock, par value $0.001 per share	Purchase	$184K	+80K	+3.41%	$2.30^*	2.43M	Dec 3, 2021	By Opaleye, L.P.	F1
transaction	TCON	Common Stock, par value $0.001 per share	Purchase	$21.3K	+9.27K	+4.02%	$2.30^*	240K	Dec 3, 2021	By Managed Account	F2
transaction	TCON	Common Stock, par value $0.001 per share	Purchase	$45.3K	+20K	+0.82%	$2.26^*	2.45M	Dec 6, 2021	By Opaleye, L.P.	F4
transaction	TCON	Common Stock, par value $0.001 per share	Purchase	$6.19K	+2.73K	+1.14%	$2.26^*	243K	Dec 6, 2021	By Managed Account.	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	TCON	Prefunded Warrants						1.89M	Dec 1, 2021	Common stock	1.89M	$0.01	By Opaleye, L.P.	F3, F5
holding	TCON	Prefunded Warrants						1.36M	Dec 1, 2021	Common Stock	1.36M	$0.01	By Opaleye, L.P.	F3, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The common stock was purchased by the reporting person in open market transactions on the transaction date with a volume weighted average purchase price of $2.2953. The range of purchase prices on the transaction date was $2.24-$2.39 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each price.
F2	Securities owned by a separately managed account (the "Managed Account"). As the portfolio manager of the Managed Account, Opaleye may be deemed to beneficially own the securities owned directly by the Managed Account.
F3	Represents securities owned directly by Opaleye, L.P. (the "Fund"). As the investment manager of the Fund, Opaleye Management Inc. may be deemed to beneficially own the securities owned directly by the Fund.
F4	The common stock was purchased by the reporting person in open market transactions on the transaction date, with a volume weighted average purchase price of $2.2643. The range of purchase prices on the transaction date was $2.23 to $2.28 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each price.
F5	The warrants may not be exercised to the extent that such exercise would cause the reporting person and its affiliates to beneficially own more than 9.99% of the Issuer's then outstanding common stock.