Processa Pharmaceuticals Reports Increased Net Loss and Asset Growth in Latest 10-Q Filing

Processa Pharmaceuticals, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company recorded a net loss of $3.9 million for the three months ended June 30, 2025, compared to a net loss of $3.0 million for the same period in 2024. For the six months ending June 30, 2025, the net loss increased to $6.8 million from $5.7 million in the prior year. Operating expenses also rose, with research and development expenses totaling $2.4 million for the second quarter of 2025, up from $1.7 million in 2024, reflecting increased costs associated with ongoing clinical trials.

The company’s total assets increased to $8.2 million as of June 30, 2025, compared to $3.2 million at the end of 2024. This growth was primarily driven by a substantial increase in cash and cash equivalents, which rose to $6.9 million from $1.2 million at the end of the previous fiscal year. The increase in cash was largely attributed to successful public offerings, which generated net proceeds of approximately $10.6 million during the first half of 2025. The company issued a total of 15.3 million shares of common stock and various warrants in these offerings.

In terms of operational developments, Processa Pharmaceuticals is advancing its clinical pipeline, particularly with its Next Generation Cancer therapy (NGC) drugs. The company is currently conducting a Phase 2 trial for NGC-Cap, which targets advanced or metastatic breast cancer. The trial has expanded to include additional clinical study sites and patient enrollment. Additionally, the company has entered into a binding term sheet with Intact Therapeutics for the potential licensing of PCS12852, a drug aimed at treating diabetic gastroparesis, which could provide further financial benefits if the agreement is finalized.

Despite these advancements, the company continues to face challenges, including an accumulated deficit of $94 million as of June 30, 2025. Processa Pharmaceuticals has not yet generated any product revenue and does not anticipate positive cash flow from operations in the near future. The company has indicated that it will remain dependent on equity and debt financing to support its ongoing research and development efforts. Looking ahead, Processa plans to raise additional funds through various means, including public or private equity offerings and strategic partnerships, to ensure the continuation of its clinical trials and operational plans.