Processa Pharmaceuticals (NASDAQ: PCSA), a diversified clinical-stage company developing next-generation chemotherapy drugs for patients who have unmet medical conditions and/or require better treatment options to improve a patient’s survival and/or quality of life, announced that it has closed on its registered direct offering. The company noted that the $6.25 million offering included definitive agreements with various retail investors and insiders and involved the purchase and sale of 7,812,544 common shares offered at $0.80 per share. The $6.25 million gross proceeds does not reflect the deduction of placement agent’s fees and other expenses. Process anticipating using the funds from this offering for upcoming clinical trials, research, and development expenses, as well as for working capital and other general corporate purposes.
To view the full press release, visit https://ibn.fm/6gApP
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 its Regulatory Science Approach criteria when selecting and developing drugs to achieve high-value milestones effectively and efficiently. Processa will prioritize the three Next Generation Chemotherapy treatment programs: Next Generation Capecitabine (PCS6422 and Capecitabine to treat metastatic colorectal, gastrointestinal, breast, pancreatic, and other cancers), Next Generation Gemcitabine (PCS3117 to treat pancreatic, lung, ovarian, breast, and other cancers), and Next Generation Irinotecan (PCS11T to treat lung, colorectal, gastrointestinal, pancreatic, and other cancers). Members of the Processa development team have been involved with more than 30 approvals for indications in almost every division of the FDA (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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