What's Going On With Processa Pharmaceuticals (PCSA) Stock?
Portfolio Pulse from Henry Khederian
Processa Pharmaceuticals Inc (NASDAQ:PCSA) stock dropped 21.7% to $0.64 after the company discussed its Next Generation Capecitabine (NGC-Cap) for cancer with the FDA. The FDA provided guidance on the Phase 2 study design, protocol, and dosage. Phase 2 enrollment is expected to start in mid-2024, with interim Phase 1b results due by year-end, showing NGC-Cap's improved metabolism and distribution over Capecitabine.
December 13, 2023 | 2:42 pm
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Processa Pharmaceuticals' stock fell sharply after FDA guidance on its cancer drug NGC-Cap, with Phase 2 trials to start in mid-2024 and interim Phase 1b results expected by year-end.
The significant drop in stock price is likely due to investor concerns about the timeline for Phase 2 enrollment and the regulatory hurdles ahead. The interim results from the Phase 1b study are positive, but the market may have expected more immediate progress, leading to a sell-off.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100