QualityStocksNewsBreaks – Processa Pharmaceuticals Inc. (NASDAQ: PCSA) Closes $10.2M Private Placement
Processa Pharmaceuticals (NASDAQ: PCSA), a clinical-stage biopharmaceutical company developing products to improve the survival and/or quality of life for patients who have unmet medical needs, has closed its previously announced private placement to institutional and accredited investors. According to the update, the company sold 1,321,132 shares of its common stock at a purchase price of $7.75 per share for $10.2 million in the private placement. Processa Pharmaceuticals secured net proceeds of $9.9 million, which will enable the company to be funded through 2023 and either expand the clinical development of PCS6422 or conduct enabling toxicology studies to advance PCS11T. “We…