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Processa Pharmaceuticals | 10-Q: Q2 2024 Earnings Report

Processa Pharmaceuticals | 10-Q: Q2 2024 Earnings Report

Processa Pharmaceuticals | 10-Q:2024財年二季報
美股SEC公告 ·  2024/08/14 04:20

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Processa Pharmaceuticals reported a net loss of $3.01 million ($1.01 per share) for Q2 2024, compared to $2.61 million ($1.94 per share) in Q2 2023. Revenue remained at zero while research and development expenses increased slightly to $1.73 million from $1.69 million year-over-year. The company ended the quarter with $5.57 million in cash and cash equivalents.The company made significant progress with its NGC-Cap program, receiving IND clearance from FDA on July 24, 2024 for a Phase 2 trial in advanced and metastatic breast cancer. The global multicenter trial will compare two doses of NGC-Cap to standard capecitabine in 60-90 patients. Management expects to dose the first patient before the end of Q3 2024, ahead of required milestones.In January 2024, Processa raised $6.3 million in net proceeds through a public offering and implemented a 1-for-20 reverse stock split. The company appointed Russell Skibsted as CFO in July 2024. Management believes current cash will fund operations into late 2024 but notes substantial doubt exists about continuing as a going concern beyond one year without additional funding.
Processa Pharmaceuticals reported a net loss of $3.01 million ($1.01 per share) for Q2 2024, compared to $2.61 million ($1.94 per share) in Q2 2023. Revenue remained at zero while research and development expenses increased slightly to $1.73 million from $1.69 million year-over-year. The company ended the quarter with $5.57 million in cash and cash equivalents.The company made significant progress with its NGC-Cap program, receiving IND clearance from FDA on July 24, 2024 for a Phase 2 trial in advanced and metastatic breast cancer. The global multicenter trial will compare two doses of NGC-Cap to standard capecitabine in 60-90 patients. Management expects to dose the first patient before the end of Q3 2024, ahead of required milestones.In January 2024, Processa raised $6.3 million in net proceeds through a public offering and implemented a 1-for-20 reverse stock split. The company appointed Russell Skibsted as CFO in July 2024. Management believes current cash will fund operations into late 2024 but notes substantial doubt exists about continuing as a going concern beyond one year without additional funding.
Processa Pharmaceuticals報告截至2024年第二季度淨虧損301萬美元(每股1.01美元),相比之下,2023年第二季度的淨虧損爲261萬美元(每股1.94美元)。營業收入保持爲零,而研究和開發費用同比略微增加至173萬美元,較去年同期的169萬美元有所上升。該公司在季度末擁有現金及現金等價物557萬美元。該公司在其NGC-Cap項目上取得了顯著進展,於2024年7月24日獲得FDA對在晚期和轉移性乳腺癌患者中進行二期試驗的IND批准。該全球多中心試驗將比較NGC-Cap的兩種劑量與標準的卡培他濱在60-90名患者中的效果。管理層預計在2024年第三季度末之前爲第一位患者...展開全部
Processa Pharmaceuticals報告截至2024年第二季度淨虧損301萬美元(每股1.01美元),相比之下,2023年第二季度的淨虧損爲261萬美元(每股1.94美元)。營業收入保持爲零,而研究和開發費用同比略微增加至173萬美元,較去年同期的169萬美元有所上升。該公司在季度末擁有現金及現金等價物557萬美元。該公司在其NGC-Cap項目上取得了顯著進展,於2024年7月24日獲得FDA對在晚期和轉移性乳腺癌患者中進行二期試驗的IND批准。該全球多中心試驗將比較NGC-Cap的兩種劑量與標準的卡培他濱在60-90名患者中的效果。管理層預計在2024年第三季度末之前爲第一位患者給藥,提前滿足所需里程碑。在2024年1月,Processa通過公開發行籌集了630萬美元的淨收益,並實施了1對20的反向股票拆分。該公司在2024年7月任命Russell Skibsted爲財務長。管理層認爲當前的現金將支持運營直到2024年底,但指出在沒有額外資金的情況下,持續經營一年的前景存在重大不確定性。
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