Core Viewpoint - Processa Pharmaceuticals, Inc. has successfully closed a public offering, raising $5 million to support its development of next-generation chemotherapeutic drugs with enhanced efficacy and safety [1][2]. Group 1: Offering Details - The public offering consisted of 8,050,672 shares of common stock and accompanying Series A and Series B warrants, with a combined purchase price of $0.615 for institutional investors and $0.7975 for the CEO and certain board members [1]. - The gross proceeds from the offering, before deducting fees and expenses, were $5 million, excluding potential proceeds from the exercise of the warrants [2]. Group 2: Regulatory Information - A registration statement on Form S-1 was declared effective by the SEC on January 27, 2025, and the offering was made only by means of a prospectus [3]. Group 3: Company Overview - Processa Pharmaceuticals is focused on developing Next Generation Chemotherapy (NGC) drugs that modify existing FDA-approved oncology therapies to improve safety and efficacy while maintaining their cancer-killing mechanisms [5].
Processa Pharmaceuticals Announces Closing of $5 Million Public Offering Priced At-The-Market Under Nasdaq Rules