Processa Pharmaceuticals, Inc.
For the period ended Dec 31, 2024. Filed Mar 20, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 20, 2025
PCSA$1.87-4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows From Operating Activities | ||
| Net Loss | $(11,850,118) | $(11,121,520) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 782 | 222 |
| Non-cash lease expense for right-of-use assets | 87,184 | 81,530 |
| Stock-based compensation | 629,514 | 1,060,339 |
| Warrants issued for consulting services | - | 1,310,875 |
| Net changes in operating assets and liabilities: | ||
| Prepaid expenses and other | (1,030,436) | 956,834 |
| Operating lease liability | (83,649) | (78,896) |
| Accounts payable | 569,263 | (15,931) |
| Due from related parties | (39) | (12) |
| Accrued expenses | 432,457 | (256,787) |
| Net cash used in operating activities | (11,245,042) | (8,063,346) |
| Cash Flows From Investing Activities | ||
| Purchase of property and equipment | (3,244) | (2,776) |
| Net cash used in investing activities | (3,244) | (2,776) |
| Cash Flows From Financing Activities | ||
| Net proceeds from issuance of stock | 7,763,079 | 6,321,470 |
| Shares withheld to pay taxes on stock-based compensation | (15,902) | - |
| Settlement of stock award | (8,561) | (52,746) |
| Payment of finance lease obligation | (5,202) | - |
| Net cash provided by financing activities | 7,733,414 | 6,268,724 |
| Net Decrease in Cash and Cash Equivalents | (3,514,872) | (1,797,398) |
| Cash and Cash Equivalents - Beginning of Year | 4,706,197 | 6,503,595 |
| Cash and Cash Equivalents - End of Year | $1,191,325 | $4,706,197 |
| Years Ended December 31, | ||||
|---|---|---|---|---|
| 2024 · 2023 | ||||
| Supplemental Cash Flow Information: | ||||
| Cash paid for interest | $1,204 | $ | - | |
| Cash paid for income taxes | - | - | ||
| Non-Cash Financing Activities | ||||
| Issuance of 5,000 shares of common stock in connection with a licensing agreement which had previously been recorded as a due to licensor | $189,000 | $ | - | |
| Right-of-use asset obtained in exchange for financing lease liability | $11,804 | $ | - | |
| Financing lease liability | (11,804) | - | ||
| Net | $ | - | $ | - |
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