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GlobeNewsWire
8 months ago
Processa Pharmaceuticals Announces Closing of $5 Million Public Offering Priced At-The-Market Under Nasdaq Rules
HANOVER, Md, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Processa Pharmaceuticals, Inc. (Nasdaq: PCSA) (“Processa” or the “Company”), a clinical-stage pharmaceutical company focused on developing the next generation of chemotherapeutic drugs with improved efficacy and safety, announces the closing of its previously announced “reasonable best efforts” public offering with participation from the Company's Chief Executive Officer, certain board members, and existing institutional investors of the Company, along with a healthcare focused institutional investor, consisting of 8,050,672 shares of common stock (or pre-funded warrants in lieu thereof) and accompanying Series A warrants to purchase up to 8,050,672 shares of common stock (or pre-funded warrants in lieu thereof) and Series B warrants to purchase up to 4,025,336 shares of common stock at a combined purchase price per share (and accompanying warrants) of $0.615 for the institutional investors and $0.7975 for the Company's Chief Executive Officer and certain board members. The closing occurred on January 29, 2025.