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Processa Pharmaceuticals , Inc. (NASDAQ:PCSA), a micro-cap pharmaceutical company with a market value of $5.39 million, adjourned its annual shareholder meeting on Monday in Hanover, Maryland, after failing to reach a quorum. The company announced that not enough shares were present or represented by proxy to conduct official business.
The meeting, originally scheduled for Monday at 1:00 PM EDT, will reconvene on July 30, 2025, at the same time and location. Only shareholders of record as of May 1, 2025, will be entitled to vote when the meeting reconvenes. According to the company’s statement, stockholders who have already submitted their proxy or voted do not need to take any further action unless they wish to change their vote. The proposals to be considered at the meeting remain unchanged.
In a related disclosure, Processa Pharmaceuticals reported that on June 24, 2025, Yuhan executed Amendment No. 1 to the existing agreement between the two companies, with the amendment effective as of June 11, 2025. This amendment is connected to a term sheet entered into with Intact Therapeutics on June 17, 2025.
Processa Pharmaceuticals’ common stock is listed on the Nasdaq Capital Market under the ticker symbol PCSA.
This information is based on a statement released in a recent SEC filing.
In other recent news, Processa Pharmaceuticals has been active with several significant developments. The company is conducting a Phase 2 trial for NGC-Cap, aimed at treating advanced or metastatic breast cancer, with interim results anticipated in the latter half of 2025. Meanwhile, Processa has entered into a licensing agreement with Intact Therapeutics for PCS12852, a drug developed for gastroparesis, potentially bringing in up to $455 million in milestone payments and royalties. In terms of analyst activity, H.C. Wainwright has lowered its price target for Processa Pharmaceuticals from $6 to $2, maintaining a Buy rating due to recent equity financing and future cash needs.
Additionally, Processa presented three abstracts at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting, showcasing advances in their Next (LON:NXT) Generation Cancer drug candidates, PCS6422 and PCS11T. The Phase 2 trial for PCS6422, which combines eniluracil and capecitabine, is focused on advanced breast cancer treatment, with ongoing efforts to determine optimal dosing and personalized medicine strategies. The company also highlighted the successful completion of a Phase 1b trial for PCS6422 and a preclinical study on PCS11T, emphasizing their commitment to improving cancer treatment efficacy and safety. These developments underline Processa’s strategic focus on enhancing existing cancer therapies to better meet patient needs.
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