Processa (PCSA) Amendment Retracts Erroneous Form 4; Insider Sale Reported

Rhea-AI Filing Summary

Form 4/A filed for Processa Pharmaceuticals, Inc. (PCSA) amends earlier reporting. The reporting person is Sian Bigora, identified as Chief Development Officer and Director. The earliest transaction date reported is 07/24/2025, with an amendment date of 07/28/2025 and a signature entry dated 09/18/2025. The filing shows a disposition of 33,626 shares of common stock and continued beneficial ownership of 6,668 shares held indirectly through CorLyst, LLC. The amendment states it was filed to retract a prior Form 4 that was filed in error. The document discloses insider role, the specific share disposition, and the indirect ownership vehicle.

Positive

• Amendment filed to retract prior error, indicating corrective disclosure and improved record accuracy
• Indirect ownership disclosed (6,668 shares held by CorLyst, LLC), providing transparency on retained economic interest
• Reporting person identified with role (Chief Development Officer and Director), clarifying insider status

Negative

• Disposition of 33,626 shares represents a significant insider sale disclosed without price information in this filing
• Original erroneous Form 4 indicates potential lapses in internal compliance or reporting controls

Insights

Financial Analyst

TL;DR: Insider disposed 33,626 shares and retains indirect ownership of 6,668 shares; amendment corrects an earlier erroneous filing.

The disposal of 33,626 common shares is a material transaction for monitoring insider activity, though the filing does not state price or proceeds so market impact cannot be assessed from this document alone. The retained indirect stake of 6,668 shares via CorLyst, LLC signals continued, albeit reduced, economic interest. The amendment to retract an earlier Form 4 demonstrates corrective disclosure, which is positive for record accuracy but raises questions about the original filing process controls.

Corporate Governance Expert

TL;DR: Corrective amendment improves disclosure integrity, but an erroneous original filing suggests a lapse in internal reporting controls.

Timely and accurate Section 16 reporting is a governance requirement; filing an amendment to retract a prior Form 4 addresses compliance. However, the existence of an erroneous original filing points to potential weaknesses in insider reporting procedures or attestations. The document clearly identifies the reporting person, relationship to the issuer, and the indirect ownership vehicle, which aids transparency for shareholders and regulators.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Bigora Sian

(Last) (First) (Middle)

C/O PROCESSA PHARMACEUTICALS, INC.

601 21ST STREET SUITE 300

(Street)

VERO BEACH FL 32960

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Processa Pharmaceuticals, Inc. [ PCSA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Development Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
07/28/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								33,626	D
Common Stock								6,668	I	By CorLyst, LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Amendment filed to retract the prior Form 4, which was filed in error.

	/s/ Sian Bigora by John J. Wolfel, as Attorney-in-Fact	09/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the Form 4/A for Processa Pharmaceuticals (PCSA) disclose?

The amendment discloses a disposition of 33,626 common shares, continued indirect beneficial ownership of 6,668 shares via CorLyst, LLC, and states the prior Form 4 was retracted as filed in error.

Who is the reporting person on the PCSA Form 4/A?

The reporting person is Sian Bigora, identified as a Director and Chief Development Officer of Processa Pharmaceuticals.

When did the transaction and amendment occur on the PCSA filing?

The earliest transaction date listed is 07/24/2025, the amendment date is 07/28/2025, and the signature date on the amended filing is 09/18/2025.

Does the Form 4/A show how much the insider received for the sold shares?

No. This filing reports a disposition of 33,626 shares but does not disclose the sale price or proceeds.

How is the retained ownership held according to the filing?

Retained beneficial ownership of 6,668 shares is held indirectly through an entity named CorLyst, LLC.