Processa Pharmaceuticals Files Q3 2024 10-Q
Ticker: PCSA · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 1533743
| Field | Detail |
|---|---|
| Company | Processa Pharmaceuticals, Inc. (PCSA) |
| Form Type | 10-Q |
| Filed Date | Oct 30, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, pharmaceuticals, financials
Related Tickers: PCSA
TL;DR
**Processa Pharma (PCSA) dropped its Q3 10-Q. Check financials for latest updates.**
AI Summary
Processa Pharmaceuticals, Inc. filed a 10-Q for the period ending September 30, 2024. The filing details financial information and operational updates for the third quarter. Key financial data and disclosures relevant to investors are presented, reflecting the company's performance and financial position.
Why It Matters
This filing provides investors with the latest financial performance and operational status of Processa Pharmaceuticals, Inc., crucial for understanding the company's trajectory and investment potential.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Processa Pharmaceuticals faces inherent risks related to drug development, regulatory approvals, and market competition, which are typical for the industry.
Key Players & Entities
- Processa Pharmaceuticals, Inc. (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241030 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the nine months ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 30, 2024.
What was Processa Pharmaceuticals' former company name?
Processa Pharmaceuticals' former company name was Heatwurx, Inc., with a date of name change on October 28, 2011.
Where is Processa Pharmaceuticals, Inc. located?
Processa Pharmaceuticals, Inc. is located at 7380 Coca Cola Drive, Suite 106, Hanover, MD 21076.
What is the Standard Industrial Classification (SIC) code for Processa Pharmaceuticals?
The Standard Industrial Classification (SIC) code for Processa Pharmaceuticals is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 4,629 words · 19 min read · ~15 pages · Grade level 14.9 · Accepted 2024-10-30 16:05:42
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) — 644KB
- ex31-1.htm (EX-31.1) — 12KB
- ex31-2.htm (EX-31.2) — 12KB
- ex32-1.htm (EX-32.1) — 11KB
- form10q_001.jpg (GRAPHIC) — 135KB
- 0001493152-24-043058.txt ( ) — 3947KB
- pcsa-20240930.xsd (EX-101.SCH) — 33KB
- pcsa-20240930_cal.xml (EX-101.CAL) — 36KB
- pcsa-20240930_def.xml (EX-101.DEF) — 133KB
- pcsa-20240930_lab.xml (EX-101.LAB) — 310KB
- pcsa-20240930_pre.xml (EX-101.PRE) — 235KB
- form10-q_htm.xml (XML) — 405KB
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 15
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 26
Controls and Procedures
Item 4. Controls and Procedures 26
Other Information
Part II. Other Information 26
Legal Procedures
Item 1. Legal Procedures 26
Risk Factors
Item 1A. Risk Factors 26
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 27
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 27
Other Information
Item 5. Other Information 27
Exhibits
Item 6. Exhibits 28
Signatures
Signatures 29 2 Part I: Financial Information Item 1: Financial Statements Processa Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets (Unaudited) September 30, 2024 December 31, 2023 ASSETS Current Assets Cash and cash equivalents $ 2,891,464 $ 4,706,197 Prepaid expenses and other 1,946,675 926,300 Total Current Assets 4,838,139 5,632,497 Property and Equipment, net 5,317 2,554 Other Assets Lease right-of-use assets, net of accumulated amortization 93,161 146,057 Security deposit 5,535 5,535 Total Other Assets 98,696 151,592 Total Assets $ 4,942,152 $ 5,786,643 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Current maturities of lease liabilities $ 94,676 $ 83,649 Accounts payable 711,710 311,617 Due to licensor - 189,000 Due to related parties - 39 Accrued expenses 412,813 146,274 Total Current Liabilities 1,219,199 730,579 Non-current Liabilities Non-current lease liabilities 2,168 66,905 Total Liabilities 1,221,367 797,484 Commitments and Contingencies - - Stockholders' Equity Common stock, par value $ 0.0001 , 100,000,000 shares authorized: 3,271,944 issued and 3,266,944 outstanding at September 30, 2024; and 1,291,000 issued and 1,286,000 outstanding at December 31, 2023 327 129 Additional paid-in capital 88,510,949 80,658,111 Treasury stock at cost — 5,000 shares at September 30, 2024 and December 31, 2023 ( 300,000 ) ( 300,000 ) Accumulated deficit ( 84,490,491 ) ( 75,369,081 ) Total Stockholders' Equity 3,720,785 4,989,159 Total Liabilities and Stockholders' Equity $ 4,942,152 $ 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating Exp