Processa Pharmaceuticals (NASDAQ: PCSA), a clinical-stage biopharmaceutical company focused on the development of drug products for patients with high unmet medical need conditions or no alternative treatment options, today announced the pricing of an underwritten public offering of 4,800,000 shares of common stock for a price to the public of $4.00 per share. Processa expects approximately $19.2 million in gross proceeds and announced that, in connection with the offering, its common stock has been approved for listing on the Nasdaq Capital Market with commencement of trading under the symbol “PCSA” on October 2, 2020. The offering is expected to close on October 6, 2020, subject to satisfaction of customary conditions. Processa intends to use the net proceeds of the offering to conduct clinical trials as well as for working capital and other general corporate purposes.
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About Processa Pharmaceuticals Inc.
The mission of Processa has been to develop products where existing clinical evidence of efficacy already exists in unmet medical need conditions — medical conditions where patients need treatment options that will improve survival and/or quality of life. The company has assembled a proven regulatory science development team, management team and board of directors. The Processa development team has been involved with more than 30 drug approvals by the FDA (including drug products targeted to orphan disease conditions) and 100 FDA meetings. 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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