Wednesday, February 17, 2021

MissionIRNewsBreaks – Processa Pharmaceuticals Inc. (NASDAQ: PCSA) Executes Purchase Agreement to Raise $10.2M

 Processa Pharmaceuticals Inc. (NASDAQ: PCSA), a clinical-stage biopharmaceutical company developing products to improve the survival and/or quality of life for patients who have unmet medical needs, has executed a securities purchase agreement. The agreement is intended to raise gross proceeds of $10.2 million through the sale of 1,321,132 shares. The shares will be sold at $7.75 per share through a private investment in public equity (“PIPE”) financing. In the announcement, the company reported that the financing attracted both institutional and accredited investors, with the private placement closing expected on or about Feb. 23, 2021. “We believe these additional resources position us to further advance our pipeline of drug candidates for those patients who need better treatment options in cancer and gastroparesis as well as patients who have no real FDA approved treatment for Necrobiosis Lipoidica (‘NL’),” said Processa CEO and chairman Dr. David Young in the press release. “We look forward to seeing the results from our interim analyses in the phase 1B PCS6422 study and the Phase 2B PCS499 study in the 2H 2021.”

To view the full press release, visit https://ibn.fm/Wwxjx

About Processa Pharmaceuticals Inc.

The mission of Processa is to develop products with existing clinical evidence of efficacy for patients with unmet or underserved medical conditions who need treatment options that improve survival and/or quality of life. The company uses these criteria for selection to further develop its pipeline programs to achieve high-value milestones effectively and efficiently. PCSA’s active clinical pipeline programs include PCS6422 (“PCS6422”) (metastatic colorectal cancer and breast cancer), PCS499 (“PCS499”) (ulcerative Necrobiosis Lipoidica) and PCS12852 (“PCS12852”) (gastroparesis). The markets of each indication are in excess of $1 billion each. The members of the Processa development team have been involved with more than 30 FDA drug approvals, including drug products targeted to orphan disease conditions, and more than 100 FDA meetings throughout their careers. For more information, visit the company’s website at www.ProcessaPharma.com.  

NOTE TO INVESTORS: The latest news and updates relating to PCSA are available in the company’s newsroom at https://ibn.fm/PCSA

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MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.

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