Processa Pharmaceuticals Inc
For the period ended Mar 31, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
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United States
Securities and Exchange Commission
Washington, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended March 31,2025
or
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from ____ to ____
Commission File Number 001-39531
Processa Pharmaceuticals, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 45-1539785 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |
7380 Coca Cola Drive, Suite 106,
Hanover, Maryland 21076
(443) 776-3133
Securities registered pursuant to Section 12(b) of the Exchange Act:
| Title of Each Class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.0001 par value per share | PCSA | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒
The number of outstanding shares of the registrant’s common stock at May 8, 2025 was 11,884,356.
PROCESSA PHARMACEUTICALS, INC.
TABLE OF CONTENTS
| Part I. Financial Information | 3 | |
|---|---|---|
| Item 1: Financial Statements | 3 | |
| Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations | 13 | |
| Item 3. Quantitative and Qualitative Disclosures about Market Risk | 19 | |
| Item 4. Controls and Procedures | 19 | |
| Part II. Other Information | 19 | |
| Item 1. Legal Procedures | 19 | |
| Item 1A. Risk Factors | 20 | |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 20 | |
| Item 3. Defaults Upon Senior Securities | 20 | |
| Item 4. Mine Safety Disclosures | 20 | |
| Item 5. Other Information | 20 | |
| Item 6. Exhibits | 20 | |
| Signatures | 21 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.