Processa Pharmaceuticals Inc Financials
This page shows Processa Pharmaceuticals Inc (PCSA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Processa operates as a cash-funded development business, with fresh equity raises restoring liquidity faster than operations can sustain it.
FY2025 looked healthier than FY2024 on the surface—cash climbed to$5.5M from$1.2M and the current ratio improved to 2.5x from 1.2x—but that liquidity repair came from financing inflow of$16.6M , not from the core business, which still used$11.4M of operating cash. The balance sheet improved because capital was added faster than it was burned, not because the burn rate meaningfully changed.
The FY2025 net loss of
Spending remains centered on development activity: R&D was
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Processa Pharmaceuticals Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Processa Pharmaceuticals Inc carries a low D/E ratio of 0.40, meaning only $0.40 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.
Processa Pharmaceuticals Inc's current ratio of 2.54 indicates adequate short-term liquidity, earning a score of 48/100. The company can meet its near-term obligations, though with limited headroom.
Processa Pharmaceuticals Inc generates a -243.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -698.6% the prior year.
Processa Pharmaceuticals Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Processa Pharmaceuticals Inc generates $0.84 in operating cash flow (-$11.4M OCF vs -$13.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Processa Pharmaceuticals Inc's EBITDA was -$14.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 16.1% from the prior year.
Processa Pharmaceuticals Inc reported -$13.6M in net income in fiscal year 2025. This represents a decrease of 14.5% from the prior year.
Processa Pharmaceuticals Inc earned $-10.36 per diluted share (EPS) in fiscal year 2025. This represents an increase of 89.3% from the prior year.
Cash & Balance Sheet
Processa Pharmaceuticals Inc held $5.5M in cash against $0 in long-term debt as of fiscal year 2025.
Processa Pharmaceuticals Inc had 3M shares outstanding in fiscal year 2025. This represents an increase of 1636.5% from the prior year.
Margins & Returns
Processa Pharmaceuticals Inc's ROE was -243.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 455.4 percentage points from the prior year.
Capital Allocation
Processa Pharmaceuticals Inc invested $7.8M in research and development in fiscal year 2025. This represents an increase of 7.4% from the prior year.
PCSA Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $1.8M | N/A | $1.7M-32.1% | $2.4M+54.1% | $1.6M | N/A | $2.3M+32.2% | $1.7M |
| SG&A Expenses | $1.5M | N/A | $1.8M+21.5% | $1.5M+19.5% | $1.3M | N/A | $1.1M-15.9% | $1.4M |
| Operating Income | -$3.3M | N/A | -$3.5M+11.7% | -$4.0M-38.8% | -$2.8M | N/A | -$3.4M-11.1% | -$3.1M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$3.4M | N/A | -$3.4M+12.6% | -$3.9M-38.8% | -$2.8M | N/A | -$3.4M-12.4% | -$3.0M |
| EPS (Diluted) | $-1.29 | N/A | $-0.07+72.0% | $-0.25 | $-7.58 | N/A | $-1.03-2.0% | $-1.01 |
PCSA Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.5M-42.1% | $7.8M+3.0% | $7.6M-7.3% | $8.2M+70.1% | $4.8M+48.9% | $3.2M-34.7% | $4.9M-35.0% | $7.6M |
| Current Assets | $1.9M-65.8% | $5.7M-13.9% | $6.6M-7.9% | $7.2M+90.4% | $3.8M+100.0% | $1.9M-61.2% | $4.8M-35.3% | $7.5M |
| Cash & Equivalents | $1.7M-69.5% | $5.5M-12.2% | $6.3M-9.1% | $6.9M+139.4% | $2.9M+143.2% | $1.2M-58.8% | $2.9M-48.1% | $5.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $2.0M-11.5% | $2.2M+27.7% | $1.8M-15.6% | $2.1M+61.7% | $1.3M-16.3% | $1.5M+25.5% | $1.2M-22.6% | $1.6M |
| Current Liabilities | $2.0M-11.5% | $2.2M+27.7% | $1.8M-15.6% | $2.1M+61.7% | $1.3M-16.3% | $1.5M+25.7% | $1.2M-21.4% | $1.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $2.5M-54.4% | $5.6M-4.4% | $5.8M-4.5% | $6.1M+73.2% | $3.5M+107.9% | $1.7M-54.4% | $3.7M-38.2% | $6.0M |
| Retained Earnings | -$104.2M-3.4% | -$100.8M-3.4% | -$97.4M-3.7% | -$94.0M-4.4% | -$90.1M-3.2% | -$87.2M-3.2% | -$84.5M-4.2% | -$81.1M |
PCSA Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.6M-23.8% | -$2.9M+16.8% | -$3.5M-53.5% | -$2.3M+16.8% | -$2.7M-21.4% | -$2.2M+37.6% | -$3.6M-7.7% | -$3.3M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | -$2.2M | N/A | N/A |
| Investing Cash Flow | -$500K | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
| Financing Cash Flow | $245K-91.8% | $3.0M+4.3% | $2.9M-54.7% | $6.3M+42.3% | $4.4M+710.0% | $548K-40.9% | $926K+27229.3% | -$3K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PCSA Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -132.9% | N/A | -58.9%+5.5pp | -64.4%+16.0pp | -80.4% | N/A | -91.0%-41.0pp | -50.0% |
| Return on Assets | -74.7% | N/A | -45.3%+2.8pp | -48.1%+10.9pp | -58.9% | N/A | -68.5%-28.9pp | -39.6% |
| Current Ratio | 0.98-1.6 | 2.54-1.2 | 3.76+0.3 | 3.45+0.5 | 2.93+1.7 | 1.23-2.7 | 3.97-0.9 | 4.82 |
| Debt-to-Equity | 0.78+0.4 | 0.40+0.1 | 0.30-0.0 | 0.34-0.0 | 0.36-0.5 | 0.90+0.6 | 0.33+0.1 | 0.26 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
Is Processa Pharmaceuticals Inc profitable?
No, Processa Pharmaceuticals Inc (PCSA) reported a net income of -$13.6M in fiscal year 2025.
What is Processa Pharmaceuticals Inc's EBITDA?
Processa Pharmaceuticals Inc (PCSA) had EBITDA of -$14.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Processa Pharmaceuticals Inc's return on equity (ROE)?
Processa Pharmaceuticals Inc (PCSA) has a return on equity of -243.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Processa Pharmaceuticals Inc's operating cash flow?
Processa Pharmaceuticals Inc (PCSA) generated -$11.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Processa Pharmaceuticals Inc's total assets?
Processa Pharmaceuticals Inc (PCSA) had $7.8M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Processa Pharmaceuticals Inc spend on research and development?
Processa Pharmaceuticals Inc (PCSA) invested $7.8M in research and development during fiscal year 2025.
What is Processa Pharmaceuticals Inc's current ratio?
Processa Pharmaceuticals Inc (PCSA) had a current ratio of 2.54 as of fiscal year 2025, which is generally considered healthy.
What is Processa Pharmaceuticals Inc's debt-to-equity ratio?
Processa Pharmaceuticals Inc (PCSA) had a debt-to-equity ratio of 0.40 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Processa Pharmaceuticals Inc's return on assets (ROA)?
Processa Pharmaceuticals Inc (PCSA) had a return on assets of -173.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Processa Pharmaceuticals Inc's cash runway?
Based on fiscal year 2025 data, Processa Pharmaceuticals Inc (PCSA) had $5.5M in cash against an annual operating cash burn of $11.4M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Processa Pharmaceuticals Inc's Piotroski F-Score?
Processa Pharmaceuticals Inc (PCSA) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Processa Pharmaceuticals Inc's earnings high quality?
Processa Pharmaceuticals Inc (PCSA) has an earnings quality ratio of 0.84x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Processa Pharmaceuticals Inc?
Processa Pharmaceuticals Inc (PCSA) scores 24 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.