--- title: "Processa Pharmaceuticals registers up to $5,239,073 in at-the-market stock sales" url: "https://aibio.space/news/processa-pharmaceuticals-registers-up-5-239-073-market-stock-sales/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-07-25" section: "Financings" tickers: "NASDAQ:PCSA" source: "https://www.sec.gov/Archives/edgar/data/1533743/000149315225011418/form424b5.htm" summary: "Processa filed a new prospectus supplement that lets it sell up to $5,239,073 of stock through its at-the-market program with A.G.P./Alliance Global Partne" --- By the aibio.space news desk. Sources - [Processa Pharmaceuticals, Inc. 424B5 (2025-07-25)](https://www.sec.gov/Archives/edgar/data/1533743/000149315225011418/form424b5.htm) - [form8-k.htm](https://www.sec.gov/Archives/edgar/data/1533743/000149315225011419/form8-k.htm) - [Processa Pharmaceuticals, Inc. 10-K (2025-03-20): business](https://www.sec.gov/Archives/edgar/data/1533743/000164117225000070/form10-k.htm) [PCSA](https://aibio.space/companies/processa-pharmaceuticals/) 2025-07-25 # Processa Pharmaceuticals registers up to $5,239,073 in at-the-market stock sales Tickers [PCSA](https://aibio.space/companies/processa-pharmaceuticals/) Processa filed a new prospectus supplement that lets it sell up to $5,239,073 of stock through its at-the-market program with A.G.P./Alliance Global Partners. Its shares closed at $0.2497 on July 22, 2025, down from $0.40 on June 11, 2025, the date its public float was measured. ## Key facts - **Company**: Processa Pharmaceuticals, Inc. (NASDAQ: PCSA) - **News type**: Financings - **Primary source**: [Processa Pharmaceuticals, Inc. 424B5 (2025-07-25)](https://www.sec.gov/Archives/edgar/data/1533743/000149315225011418/form424b5.htm) *Midtown Manhattan and a downtown tower in haze. CC0, via rawpixel. The picture shows the field, not the companies named.* Processa Pharmaceuticals, Inc. (Nasdaq Capital Market: [PCSA](https://aibio.space/companies/processa-pharmaceuticals/)) filed a prospectus supplement on July 25, 2025 covering the sale of up to $5,239,073 of common stock. The shares are sold through A.G.P./Alliance Global Partners, the sales agent under a sales agreement dated May 21, 2024. The company disclosed the filing the same day in an [8-K](https://www.sec.gov/Archives/edgar/data/1533743/000149315225011419/form8-k.htm), and the terms are in the [prospectus supplement](https://www.sec.gov/Archives/edgar/data/1533743/000149315225011418/form424b5.htm). The supplement amends and supplements Prospectus Supplement No. 1 dated May 28, 2024, under Registration No. 333-279588. The filings name no other sales agent or underwriter. The only counsel they name is Foley & Lardner LLP, whose legal opinion is filed as Exhibit 5.1 to the 8-K. An at-the-market program lets a company sell new shares into the market at prevailing prices over time. Each sale adds to the share count, so the program dilutes existing holders as it is used. ## The cap that limits the program The amount Processa can sell is capped by its size. Under General Instruction I.B.6 of Form S-3, a company whose public float is below $75,000,000 may not sell securities worth more than one-third of that float in any 12-month period. The supplement puts Processa's non-affiliate market value at $15,875,978 as of July 22, 2025, based on 39,689,944 non-affiliate shares and a closing price of $0.40 on June 11, 2025. The company had 40,284,356 shares outstanding. Processa has already sold $1,546,338 of securities under that instruction in the 12 months to the date of the supplement. That leaves $3,692,735 available under the new filing, which is the figure the 8-K gives. The float figure relies on the June 11 price, which is earlier than the July 22 price the same filing reports. The filing does not say whether the company will update the float if the price falls further. ## The price and what it means for sales On July 22, 2025, the last reported sales price on Nasdaq was $0.2497. That is well below the $0.40 close on June 11 used for the float. The supplement does not say how many shares the company expects to issue at the lower price to use the remaining capacity. At this price, each dollar raised means many more shares than at $0.40. The filings give no use of proceeds beyond the program itself. They do not say whether the company will spend the money on its clinical trials, on debt, or on working capital. ## The business behind the offering Processa describes itself in its 2024 annual report as a clinical-stage biopharmaceutical company developing a pipeline of Next Generation Cancer therapy, or NGC, small molecules. Two of them are in or have completed Phase 2 trials, and one is preclinical. The NGC-Cap candidate, a combination of PCS6422 with a lower dose of capecitabine, began a Phase 2 trial in advanced or metastatic breast cancer in 2024. The trial plans an interim analysis after 20 patients have been treated, which is a small group for an efficacy read. The same annual report says the company is evaluating options to monetize two non-oncology assets, which may include out-licensing or partnering them. It also describes PCS12852, a 5HT4 agonist for diabetic gastroparesis, as ready for a Phase 2B trial after a Phase 2A trial with positive results. Those results are the company's own description, and the report does not give sample sizes or endpoints. The business section of the 2024 annual report gives no cash balance and no net loss figure. Readers cannot test the at-the-market program against the company's cash need from that material alone. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story PCSA Processa Pharmaceuticals, Inc. 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Cite as: aibio.space, "Processa Pharmaceuticals registers up to $5,239,073 in at-the-market stock sales", 2025-07-25, https://aibio.space/news/processa-pharmaceuticals-registers-up-5-239-073-market-stock-sales/