Processa Pharmaceuticals, Inc.

Processa Pharmaceuticals announced the acquisition of Vidya Therapeutics, bringing Vidya's lead asset, VT-7208, a next-generation BTK inhibitor, into its pipeline. Concurrently, Processa secured an oversubscribed private placement financing of approximately $200 million from leading healthcare institutional investors. The proceeds are expected to fund operations into the second half of 2029 and through key clinical milestones, including top-line data from Phase 2 proof-of-concept studies for food allergy, chronic spontaneous urticaria, and relapsing multiple sclerosis.

Processa Pharmaceuticals, Inc. has filed its DEF 14A Proxy Statement detailing the upcoming 2026 Annual Meeting of Stockholders scheduled for July 30, 2026. Key proposals include the election of six directors, an amendment to the 2019 Omnibus Incentive Plan to increase available shares by 200,000, ratification of Cherry Bekaert, LLP as the independent auditor, and an advisory vote on executive compensation. The company is utilizing the internet for proxy material delivery to reduce costs.

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.

Processa Pharmaceuticals, Inc. filed an amendment to its 10-K, announcing that Dr. Sian Bigora will transition from full-time Chief Development and Regulatory Officer to a part-time employee role effective May 1, 2026, and will no longer be an executive officer. The filing also detailed executive compensation for 2024 and 2025, with CEO George Ng receiving $673,303 in 2025, and provided updated employment agreements and board committee compositions.

Processa Pharmaceuticals, Inc. announced that Dr. Sian Bigora, Chief Development and Regulatory Officer, will transition from a full-time executive officer role to a part-time employee position, effective May 1, 2026. This change is part of her planned transition toward retirement. She will no longer be designated an "executive officer" but will retain her title and continue to provide services in a reduced capacity. Her employment agreement will be replaced, and her equity awards and bonus compensation will remain subject to their original terms.