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Processa Pharmaceuticals, Inc. (PCSA) has a new significant shareholder group reported on a Schedule 13G. Soleus Capital Master Fund, L.P., together with related Soleus entities and Guy Levy, report beneficial ownership of 160,943 shares of Processa common stock, representing 5.8% of the outstanding shares.
All reporting persons have shared voting and dispositive power over 160,943 shares and no sole voting or dispositive power. The ownership percentage is based on 2,793,386 shares outstanding as of August 7, 2026. The Soleus entities and Mr. Levy disclaim beneficial ownership beyond what is required for Section 13(d) reporting.
Processa Pharmaceuticals reported a Q2 2026 net loss of $3.27 million and a six‑month net loss of $6.64 million, similar to the prior year. Operating expenses for the quarter were driven by $0.65 million in research and development and $1.69 million in general and administrative costs.
At June 30, 2026, cash and cash equivalents were $196,325, with total assets of $2.07 million and a stockholders’ deficit of $0.32 million. The company used $5.59 million of cash in operating activities in the first half and held Chiliz digital assets with a fair value of $472,003, recognizing $0.99 million in realized and unrealized losses.
Subsequently, on July 28, 2026, Processa acquired Vidya Therapeutics, adding lead BTK inhibitor VT‑7208 for food allergy, CSU and RMS, and closed a related private placement of Series A Preferred Stock for $200 million gross ($183.3 million net). Management states these proceeds are expected to fund operations into the second half of 2029, eliminating the previously disclosed going‑concern uncertainty.
Processa Pharmaceuticals, Inc. director and CEO George K. Ng reported the distribution of a time-based restricted stock award. On August 8, 2026, 1,600 shares of restricted stock converted into 1,600 shares of common stock, leaving him with 17,092 directly held common shares and 19,624 restricted shares. He also reports options to acquire 30,720 common shares at an exercise price of $4.96 per share and additional indirect common stock holdings through related entities. Certain reported share amounts reflect a 1-for-25 reverse stock split effective December 17, 2025.
Processa Pharmaceuticals, Inc. held its 2026 Annual Meeting of Shareholders on July 30, 2026. Shareholders approved an amendment to the company’s 2019 Omnibus Incentive Plan, increasing the number of shares available for issuance under the plan by 200,000 shares.
The amendment received 579,877 votes For, 152,958 Against and 2,700 Abstentions, with 825,288 broker non-votes. Votes were also cast for director nominees, including 710,505 For votes for Justin Yorke with 25,030 Abstentions and 825,288 broker non-votes, and on additional proposals with disclosed vote totals. A quorum was present, representing at least one-third of the voting power as of the June 1, 2026 record date.
Processa Pharmaceuticals, Inc. director Sheila Gujrathi reported acquiring Series A Non-Voting Convertible Preferred Stock on July 28, 2026, in connection with the acquisition of Vidya Therapeutics, Inc. She received 70,811.877 Series A Preferred shares held directly.
An additional 12,311.279 Series A Preferred shares are held indirectly by SilverArc Private Fund I, L.P., an investment fund with which she is associated; she disclaims beneficial ownership except for any pecuniary interest. The Series A Preferred has no expiration and, subject to conditions, each share is convertible into 1,000 shares of Processa common stock.
Processa Pharmaceuticals, Inc. director Sheila Gujrathi has submitted an initial Form 3 insider ownership report. The statement does not list any reportable holdings of Processa Pharmaceuticals securities or derivative instruments for her and shows no insider transactions at the time covered.
Processa Pharmaceuticals completed the stock-for-stock acquisition of Vidya Therapeutics, making Vidya a wholly owned subsidiary through a two-step merger intended to qualify as a tax-free reorganization. Vidya holders received 558,398 Processa common shares and 142,744.100 shares of Series A Non-Voting Convertible Preferred Stock, each convertible into 1,000 common shares after stockholder approval, subject to beneficial ownership limits.
Processa also entered into a Securities Purchase Agreement for 163,774.679 Series A preferred shares (the PIPE Securities) for approximately $200.0 million in cash, with closing expected July 30, 2026. After the Merger and Financing, on a fully diluted basis, pre-transaction Processa stockholders are expected to hold about 0.9% of common stock, former Vidya equityholders about 46%, and PIPE investors about 52.6%. Certain officers, directors and key holders entered 180-day lock-ups, and the company must file resale registration statements within set deadlines.
Separately, Processa terminated its Elion Oncology license for PCS6422 via a settlement, returning the program to Elion, paying $650,000, and granting Elion a 7.5% non-voting interest in any qualifying NewCo formed within 365 days. The company plans to focus on VT-7208 and continue legacy programs PCS499 and PCS12852, and appointed Vidya founder Sheila Gujrathi, M.D., to its board.
Processa Pharmaceuticals, Inc. director Justin W. Yorke received a grant of 33,500 Restricted Stock Units (RSUs) on July 26, 2026. Each RSU represents a contingent right to one share of common stock and vested upon grant, with distribution deferred until the earlier of termination, six months after grant, a change of control, or death. Following this grant, he holds 38,749 RSUs, stock options for 12,000 shares at an exercise price of $4.96, and common stock totaling 353 shares directly plus additional indirect holdings, all reflecting a 1-for-25 reverse stock split effected on December 17, 2025.
Processa Pharmaceuticals, Inc. reported that Chief Financial Officer Russell Skibsted received a grant of 11,883 Restricted Stock Units on July 26, 2026. These RSUs vested immediately but will be settled later under specified conditions. After the grant he directly holds 17,323 RSUs, 16,689 common shares and stock options over 12,960 shares at a $4.9600 exercise price.
Processa Pharmaceuticals director Geraldine Pannu received a grant of 33,500 Restricted Stock Units on July 26, 2026. Each RSU equals one share of common stock, vested upon grant, and will be settled at the earlier of termination, six months after grant, change of control, or death.
After this award she reports direct holdings of 38,749 RSUs, stock options for 12,000 shares at an exercise price of $4.9600, and 2,391 common shares. Reported amounts reflect the company’s 1-for-25 reverse stock split effective December 17, 2025.