NetworkNewsBreaks – Processa Pharmaceuticals Inc. (NASDAQ: PCSA) Executes Purchase Agreement to Raise $10.2M
Processa Pharmaceuticals Inc. (NASDAQ: PCSA), a clinical-stage biopharmaceutical company developing products to improve the survival and/or quality of life for patients who have unmet medical needs, has executed a securities purchase agreement. The agreement is intended to raise gross proceeds of $10.2 million through the sale of 1,321,132 shares. The shares will be sold at $7.75 per share through a private investment in public equity (“PIPE”) financing. In the announcement, the company reported that the financing attracted both institutional and accredited investors, with the private placement closing expected on or about Feb. 23, 2021. “We believe these additional resources position us to further advance our pipeline of drug candidates for those patients who need better treatment options in cancer and gastroparesis as well as patients who have no real FDA approved treatment for Necrobiosis Lipoidica (‘NL’),” said Processa CEO and chairman Dr. David Young in the press release. “We look forward to seeing the results from our interim analyses in the phase 1B PCS6422 study and the Phase 2B PCS499 study in the 2H 2021.”
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Processa Pharmaceuticals Inc. (NASDAQ: PCSA), a clinical-stage biopharmaceutical company developing products to improve the survival and/or quality of life for patients who have unmet medical needs, has executed a securities purchase agreement. The agreement is intended to raise gross proceeds of $10.2 million through the sale of 1,321,132 shares. The shares will be sold at $7.75 per share through a private investment in public equity (“PIPE”) financing. In the announcement, the company reported that the financing attracted both institutional and accredited investors, with the private placement closing expected on or about Feb. 23, 2021. “We believe these additional resources position us to further advance our pipeline of drug candidates for those patients who need better treatment options in cancer and gastroparesis as well as patients who have no real FDA approved treatment for Necrobiosis Lipoidica (‘NL’),” said Processa CEO and chairman Dr. David Young in the press release. “We look forward to seeing the results from our interim analyses in the phase 1B PCS6422 study and the Phase 2B PCS499 study in the 2H 2021.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
