Processa Pharmaceuticals Issues Letter To Shareholders Highlighting Corporate Strategy, Drug Pipeline, And Outlook
Portfolio Pulse from Benzinga Newsdesk
Processa Pharmaceuticals, Inc. (PCSA) CEO George Ng issued a shareholder letter detailing the company's pivot to oncology drug development, focusing on Next Generation Chemotherapy (NGC) agents to improve safety and efficacy for cancer patients. The letter outlines the current pipeline, including NGC-Capecitabine (PCS6422), NGC-Gemcitabine (PCS3117), and NGC-Irinotecan (PCS11T), all targeting various cancers. Processa aims to address chemotherapy's limitations and expand its market, leveraging a strong team and regulatory science approach. The company has a stable financial position with $6.9 million in cash as of September 30, 2023, and plans to out-license non-NGC assets to supplement funding. Upcoming milestones include completing Phase 1b study enrollment for NGC-Cap by early 2024 and meeting with the FDA to discuss Phase 2 study designs.
November 29, 2023 | 1:18 pm
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Processa Pharmaceuticals, Inc. (PCSA) is focusing on developing NGC agents to improve cancer treatment. With a strong pipeline and stable financials, the company is poised for potential growth, backed by a strategic pivot to oncology drug development.
The CEO's letter to shareholders emphasizes a strategic pivot to oncology and a focus on NGC agents, which could potentially improve the company's market position and lead to growth. The positive outlook, upcoming milestones, and stable financials are likely to be viewed favorably by investors, potentially leading to a short-term positive impact on PCSA's stock price.
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