On August 23, 2022, TRACON Pharmaceuticals, Inc. (Company) and Silicon Valley Bank (SVB) terminated the Amended and Restated Loan and Security Agreement, dated as of May 13, 2015 and amended on August 9, 2016, January 25, 2017, May 3, 2018 and April 10, 2020 (as amended, the “SVB Loan Agreement”), by and between the Company, as borrower, and SVB, as lender, pursuant to a termination letter (the “Termination Letter”) in accordance with the terms of the SVB Loan Agreement. Pursuant to the Termination Letter and the SVB Loan Agreement, the Company continues to be bound by certain terms under the SVB Loan Agreement that customarily survive the termination of similar agreements, including, without limitation, certain indemnification obligations. The SVB Loan Agreement provided for advances to the Company from time to time, the most recent of which was an advancement in the aggregate principal amount of $7.0 million.

As of the date of the Termination Letter, the Company had no amounts due or owed to SVB under the SVB Loan Agreement for any principal, interest, or other amounts. Because there remains no outstanding amounts under the SVB Loan Agreement and because the Company does not plan to request any further advancements under the SVB Loan Agreement, the Company and SVB have decided to terminate the SVB Loan Agreement.