Quarterly ResultMay 7, 2026, 04:30 PM
Processa Pharmaceuticals Q1 Net Loss $(3.38)M; Cash $1.69M
AI Summary
Processa Pharmaceuticals reported a net loss of $(3.38) million for Q1 2026, an increase from $(2.83) million in Q1 2025. The company's cash and cash equivalents significantly decreased to $1.69 million at March 31, 2026, from $5.54 million at December 31, 2025, leading to substantial doubt about its ability to continue as a going concern. Operating activities used $3.59 million in cash during the quarter, and the company raised approximately $464,000 through equity issuances in Q1 and early Q2 2026.
Key Highlights
- Net loss for Q1 2026 increased to $(3.38) million from $(2.83) million in Q1 2025.
- Cash and cash equivalents decreased to $1.69 million at March 31, 2026, from $5.54 million at December 31, 2025.
- Net cash used in operating activities rose to $(3.59) million in Q1 2026 from $(2.73) million in Q1 2025.
- Total assets declined to $4.52 million at March 31, 2026, from $7.81 million at December 31, 2025.
- Raised $200,000 from a private placement and $45,000 from insiders in Q1 2026.
- Further raised $219,000 in April 2026 through insider purchases and an ATM offering.
- Research and development expenses increased to $1.81 million in Q1 2026 from $1.59 million in Q1 2025.
- General and administrative expenses rose to $1.52 million in Q1 2026 from $1.26 million in Q1 2025.