InvestorNewsBreaks – Processa Pharmaceuticals Inc. (NASDAQ: PCSA) Announces Q2 2024 Financial Results, Provides Updates

August 28, 2024 at 10:30 AM EDT

Processa Pharmaceuticals (NASDAQ: PCSA), a clinical-stage pharmaceutical company focused on developing the next generation of chemotherapeutic drugs with improved efficacy and safety, today provided updates on its product pipeline, upcoming milestones and business activities. According to the updates, a Phase 2 trial with NGC-Cap is underway in patients with breast cancer. In addition, preclinical studies showed that NGC-Iri delivers more cancer-killing SN-38 molecules to the tumor than Onivyde(R) or irinotecan.

The company also reported its financial results for the three and six months ended June 30, 2024. In Q2 2024, Processa recorded research and development expenses of $1.7 million and general and administrative expenses of $1.4 million. The net loss for the quarter was $3.0 million, while cash and cash equivalents were $5.6 million as of June 30, 2024.

“We made significant progress in advancing our three development programs year-to-date, with a particular focus on our lead candidate NGC-Cap,” said George Ng, CEO of Processa Pharmaceuticals. “Upon receiving FDA clearance of our NGC-Cap IND application, we initiated a Phase 2 clinical trial in metastatic breast cancer. We look forward to enrolling patients in this multicenter, open-label study and expect to have an initial data readout in mid-2025.”

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

About Processa Pharmaceuticals Inc.

Processa is a clinical-stage pharmaceutical company focused on developing the Next Generation Chemotherapy (“NGC”) drugs to improve the safety and efficacy of cancer treatment. Processa’s NGC drugs are modifications of existing FDA-approved oncology drugs resulting in an alteration of the metabolism and/or distribution of these drugs while maintaining the existing mechanisms of killing the cancer cells. By combining its novel oncology pipeline with proven cancer-killing active molecules and its Regulatory Science Approach, Processa’s strategy is to develop more effective therapy options with improved tolerability for cancer patients through an efficient regulatory pathway. 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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