Processa Pharmaceuticals, Inc. ( (PCSA) ) has released its Q3 earnings. Here is a breakdown of the information Processa Pharmaceuticals, Inc. presented to its investors.
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Processa Pharmaceuticals, Inc., based in Maryland, is a clinical-stage biopharmaceutical company that focuses on developing Next Generation Chemotherapy drugs aimed at improving the safety and efficacy of existing cancer treatments.
In its latest earnings report for the third quarter of 2024, Processa Pharmaceuticals highlighted its continued focus on developing its portfolio of cancer drugs, although it reported a net loss, reflecting ongoing investment in research and development.
The company reported an operating loss of $3.42 million for the three months ended September 30, 2024, compared to a loss of $2.17 million in the same period last year. Research and development expenses increased to $2.29 million, up from $1.15 million in the previous year, reflecting the company’s commitment to advancing its drug pipeline. Processa also reported net proceeds of $7.21 million from the issuance of common stock, which will be used to support ongoing operational activities and clinical trials.
Looking ahead, Processa Pharmaceuticals plans to continue its focus on the development of its Next Generation Chemotherapy treatments. The company’s management remains optimistic about the potential of their drug candidates to provide improved safety and efficacy profiles over existing treatments and is seeking additional funding to support its research and clinical activities.
