Processa Pharmaceuticals Files Q2 2024 10-Q
Ticker: PCSA · Form: 10-Q · Filed: Aug 13, 2024 · CIK: 1533743
| Field | Detail |
|---|---|
| Company | Processa Pharmaceuticals, Inc. (PCSA) |
| Form Type | 10-Q |
| Filed Date | Aug 13, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, pharmaceuticals
TL;DR
Processa Pharma dropped its Q2 10-Q. Check financials.
AI Summary
Processa Pharmaceuticals, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results and provided updates on its business operations. Specific financial figures and operational details for the second quarter of 2024 were disclosed in the filing.
Why It Matters
This filing provides investors with a detailed look at Processa Pharmaceuticals' financial health and operational progress during the second quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Processa Pharmaceuticals is subject to inherent risks related to drug development, regulatory approvals, and market competition.
Key Numbers
- Q2 2024 — Reporting Period (Financials and operations for the second quarter of 2024 are detailed.)
- 20240630 — Period End Date (The 10-Q covers financial data up to this date.)
- 20240813 — Filing Date (The date the report was officially submitted to the SEC.)
Key Players & Entities
- Processa Pharmaceuticals, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- 20240813 (date) — Filing date
- Heatwurx, Inc. (company) — Former company name
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 13, 2024.
What was Processa Pharmaceuticals, Inc. formerly known as?
Processa Pharmaceuticals, Inc. was formerly known as Heatwurx, Inc.
What is the Standard Industrial Classification code for Processa Pharmaceuticals, Inc.?
The Standard Industrial Classification code for Processa Pharmaceuticals, Inc. is 2834, Pharmaceutical Preparations.
In which state was Processa Pharmaceuticals, Inc. incorporated?
Processa Pharmaceuticals, Inc. was incorporated in Delaware (DE).
Filing Stats: 4,632 words · 19 min read · ~15 pages · Grade level 14.5 · Accepted 2024-08-13 16:15:39
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share PCSA The Nasdaq
Filing Documents
- form10-q.htm (10-Q) — 600KB
- ex31-1.htm (EX-31.1) — 12KB
- ex31-2.htm (EX-31.2) — 12KB
- ex32-1.htm (EX-32.1) — 10KB
- form10-q_001.jpg (GRAPHIC) — 92KB
- 0001493152-24-031622.txt ( ) — 3825KB
- pcsa-20240630.xsd (EX-101.SCH) — 35KB
- pcsa-20240630_cal.xml (EX-101.CAL) — 37KB
- pcsa-20240630_def.xml (EX-101.DEF) — 141KB
- pcsa-20240630_lab.xml (EX-101.LAB) — 317KB
- pcsa-20240630_pre.xml (EX-101.PRE) — 241KB
- form10-q_htm.xml (XML) — 384KB
Financial Information
Part I. Financial Information 3
: Financial Statements
Item 1: Financial Statements 3
: Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations 13
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 21
Controls and Procedures
Item 4. Controls and Procedures 21
Other Information
Part II. Other Information 21
Legal Procedures
Item 1. Legal Procedures 21
Risk Factors
Item 1A. Risk Factors 22
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 22
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 22
Other Information
Item 5. Other Information 23
Exhibits
Item 6. Exhibits 23
Signatures
Signatures 24 2 Part I: Financial Information Item 1: Financial Statements Processa Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets (Unaudited) June 30, 2024 December 31, 2023 ASSETS Current Assets Cash and cash equivalents $ 5,571,120 $ 4,706,197 Prepaid expenses and other 1,906,854 926,300 Total Current Assets 7,477,974 5,632,497 Property and Equipment, net 2,276 2,554 Other Assets Lease right-of-use assets, net of accumulated amortization 115,191 146,057 Security deposit 5,535 5,535 Total Other Assets 120,726 151,592 Total Assets $ 7,600,976 $ 5,786,643 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Current maturities of lease liabilities $ 93,181 $ 83,649 Accounts payable 953,086 311,617 Due to licensor - 189,000 Due to related parties - 39 Accrued expenses 505,397 146,274 Total Current Liabilities 1,551,664 730,579 Non-current Liabilities Non-current lease liabilities 25,648 66,905 Total Liabilities 1,577,312 797,484 Commitments and Contingencies - - Stockholders' Equity Common stock, par value $ 0.0001 , 100,000,000 shares authorized: 2,873,883 issued and 2,868,883 outstanding at June 30, 2024; and 1,291,000 issued and 1,286,000 outstanding at December 31, 2023 287 129 Additional paid-in capital 87,429,165 80,658,111 Treasury stock at cost — 5,000 shares at June 30, 2024 and December 31, 2023 ( 300,000 ) ( 300,000 ) Accumulated deficit ( 81,105,788 ) ( 75,369,081 ) Total Stockholders' Equity 6,023,664 4,989,159 Total Liabilities and Stockholders' Equity $ 7,600,976 $ 5,786,643 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Processa Pharmaceuticals, Inc. Condensed Consolidated Statements of Operations (Unaudited) 2024 2023 2024 2023 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating Expenses Research and deve