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Processa Pharmaceuticals , Inc. (NASDAQ:PCSA), currently trading at $0.63 with a market capitalization of just $2.95 million, has been notified by Nasdaq’s Listing Qualifications Department that its stock price has not met the minimum bid price requirement for the past 30 consecutive business days, putting the company at risk of being delisted from The Nasdaq Capital Market. The notification, received on Monday, February 4, 2025, states that the company’s common stock closed below the required $1.00 per share. According to InvestingPro data, the stock has declined over 25% year-to-date, reflecting broader challenges facing the company.
Despite the warning, the trading of Processa Pharmaceuticals’ shares continues under the ticker symbol "PCSA". The company is now in a 180-day grace period, ending on August 4, 2025, to regain compliance with the Bid Price Requirement. Compliance can be achieved if the stock’s bid price closes at $1.00 or more for at least 10 consecutive business days during this period. InvestingPro analysis reveals that while the company maintains more cash than debt and has strong liquidity with a current ratio of 3.97, it’s currently experiencing rapid cash burn - one of 13 key insights available to subscribers.
Processa Pharmaceuticals may be eligible for an additional 180-day period to meet the requirement if it fails to do so by the initial deadline. If the company is ultimately unable to regain compliance, it may face delisting, although it would have the right to appeal any delisting decision made by the Nasdaq Staff.
The company has stated its intention to monitor its share price closely and to take appropriate actions to regain compliance with Nasdaq’s minimum bid price rule. However, there is no guarantee that Processa Pharmaceuticals will be able to meet the requirement within the allotted timeframe or maintain compliance with other Nasdaq listing standards.
This news comes as investors watch closely to see how the pharmaceutical company will address the challenge and maintain its listing status. The information reported is based on the recent SEC filing by Processa Pharmaceuticals.
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