Processa Pharmaceuticals (NASDAQ: PCSA) gains new 5.8% owner with no sole control

Rhea-AI Filing Summary

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.

Key Figures

Shares beneficially owned: 160,943 shares Percent of class: 5.8% Shares outstanding: 2,793,386 shares +4 more

7 metrics

Shares beneficially owned 160,943 shares Common stock of Processa Pharmaceuticals, Inc. reported by the Soleus group

Percent of class 5.8% Ownership percentage of Processa common stock reported by the Soleus group

Shares outstanding 2,793,386 shares Processa common stock outstanding as of August 7, 2026, per Form 10-Q cover

Sole voting power 0 shares Shares over which the Soleus group reports sole voting power

Shared voting power 160,943 shares Shares over which the Soleus group reports shared voting power

Sole dispositive power 0 shares Shares over which the Soleus group reports sole dispositive power

Shared dispositive power 160,943 shares Shares over which the Soleus group reports shared dispositive power

Key Terms

beneficial ownership, shared voting power, shared dispositive power, Schedule 13G, +1 more

5 terms

beneficial ownership financial

"Each of SCG, Soleus Capital, SCM, Soleus GP, LLC and Mr. Levy disclaims beneficial ownership"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

shared voting power financial

"6 | Shared Voting Power 160,943.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"8 | Shared Dispositive Power 160,943.00"

Schedule 13G regulatory

"the filing of this report shall not be deemed an admission under Schedule 13G context"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Section 13(d) of the Exchange Act regulatory

"for the purpose of determining their obligations under Section 13(d) of the Exchange Act"

FAQ

How much of Processa Pharmaceuticals (PCSA) does the Soleus group beneficially own?

The Soleus group reports beneficial ownership of 160,943 shares of Processa Pharmaceuticals common stock, representing 5.8% of the class, based on 2,793,386 shares outstanding as of August 7, 2026.

Who are the reporting persons on this Schedule 13G for PCSA?

The reporting persons are Soleus Capital Master Fund, L.P., Soleus Capital, LLC, Soleus Capital Group, LLC, Soleus Capital Management, L.P., Soleus GP, LLC, and Guy Levy, who is the managing member of certain Soleus entities and signs in multiple related capacities.

What voting power does the Soleus group have over PCSA shares?

The Soleus group reports 0 shares with sole voting power and 160,943 shares with shared voting power. This means voting decisions over these shares are exercised jointly under their shared control structure.

What dispositive power does the Soleus group report over PCSA stock?

They report 0 shares with sole dispositive power and 160,943 shares with shared dispositive power. Dispositive power refers to the authority to decide whether and how the shares are sold or otherwise transferred.

How was the 5.8% ownership of PCSA calculated for the Soleus group?

The 5.8% ownership figure is calculated using 2,793,386 shares of Processa common stock outstanding as of August 7, 2026, as set forth on the cover of Processa’s Form 10-Q for the quarter ended June 30, 2026.

Do the Soleus entities and Guy Levy claim full beneficial ownership of PCSA shares?

They state that the shares are held directly by Soleus Capital Master Fund, L.P. and each other reporting person disclaims beneficial ownership except as required to determine obligations under Section 13(d) of the Exchange Act.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/18/2026 - 05:00 PM Accepted by SEC EDGAR 08/18/2026 - 05:00 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Processa Pharmaceuticals, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

74275C403

(CUSIP Number)

08/03/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 74275C403

1

Names of Reporting Persons

Soleus Capital Master Fund, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 160,943.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 160,943.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

160,943.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: (1) The shares reported in the table above are held directly by Soleus Capital Master Fund, L.P. ("Master Fund"). Soleus Capital, LLC ("Soleus Capital") is the sole general partner of Master Fund, Soleus Capital Group, LLC ("SCG") is the sole managing member of Soleus Capital, Soleus Capital Management, L.P. ("SCM") is the investment manager for Master Fund, and Soleus GP, LLC is the sole general partner of SCM. Guy Levy is the sole managing member of each of SCG and of Soleus GP, LLC. Each of SCG, Soleus Capital, SCM, Soleus GP, LLC and Mr. Levy disclaims beneficial ownership of these shares held by Master Fund other than for the purpose of determining their obligations under Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the filing of this report shall not be deemed an admission that any of the foregoing persons is the beneficial owner of such shares for any other purpose. (2) The percentage set forth in row 11 is calculated based upon 2,793,386 shares of the common stock of Processa Pharmaceuticals, Inc. (the "Issuer") outstanding as of August 7, 2026, as reported on the cover of the Issuer's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2026, filed with the Securities and Exchange Commission on August 14, 2026 (the "Form 10-Q").

SCHEDULE 13G

CUSIP Number(s): 74275C403

1

Names of Reporting Persons

Soleus Capital, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 160,943.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 160,943.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

160,943.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: (1) The shares reported in the table above are held directly by Master Fund. Soleus Capital is the sole general partner of Master Fund, SCG is the sole managing member of Soleus Capital, SCM is the investment manager for Master Fund, and Soleus GP, LLC is the sole general partner of SCM. Guy Levy is the sole managing member of each of SCG and of Soleus GP, LLC. Each of SCG, Soleus Capital, SCM, Soleus GP, LLC and Mr. Levy disclaims beneficial ownership of these shares held by Master Fund other than for the purpose of determining their obligations under Section 13(d) of the Exchange Act, and the filing of this report shall not be deemed an admission that any of the foregoing persons is the beneficial owner of such shares for any other purpose. (2) The percentage set forth in row 11 is calculated based upon 2,793,386 shares of the common stock of the Issuer outstanding as of August 7, 2026, as set forth on the cover of the Form 10-Q.

SCHEDULE 13G

CUSIP Number(s): 74275C403

1

Names of Reporting Persons

Soleus Capital Group, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 160,943.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 160,943.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

160,943.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: (1) The shares reported in the table above are held directly by Master Fund. Soleus Capital is the sole general partner of Master Fund, SCG is the sole managing member of Soleus Capital, SCM is the investment manager for Master Fund, and Soleus GP, LLC is the sole general partner of SCM. Guy Levy is the sole managing member of each of SCG and of Soleus GP, LLC. Each of SCG, Soleus Capital, SCM, Soleus GP, LLC and Mr. Levy disclaims beneficial ownership of these shares held by Master Fund other than for the purpose of determining their obligations under Section 13(d) of the Exchange Act, and the filing of this report shall not be deemed an admission that any of the foregoing persons is the beneficial owner of such shares for any other purpose. (2) The percentage set forth in row 11 is calculated based upon 2,793,386 shares of the common stock of the Issuer outstanding as of August 7, 2026, as set forth on the cover of the Form 10-Q.

SCHEDULE 13G

CUSIP Number(s): 74275C403

1

Names of Reporting Persons

Soleus Capital Management, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 160,943.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 160,943.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

160,943.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: (1) The shares reported in the table above are held directly by Master Fund. Soleus Capital is the sole general partner of Master Fund, SCG is the sole managing member of Soleus Capital, SCM is the investment manager for Master Fund, and Soleus GP, LLC is the sole general partner of SCM. Guy Levy is the sole managing member of each of SCG and of Soleus GP, LLC. Each of SCG, Soleus Capital, SCM, Soleus GP, LLC and Mr. Levy disclaims beneficial ownership of these shares held by Master Fund other than for the purpose of determining their obligations under Section 13(d) of the Exchange Act, and the filing of this report shall not be deemed an admission that any of the foregoing persons is the beneficial owner of such shares for any other purpose. (2) The percentage set forth in row 11 is calculated based upon 2,793,386 shares of the common stock of the Issuer outstanding as of August 7, 2026, as set forth on the cover of the Form 10-Q.

SCHEDULE 13G

CUSIP Number(s): 74275C403

1

Names of Reporting Persons

Soleus GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 160,943.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 160,943.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

160,943.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: (1) The shares reported in the table above are held directly by Master Fund. Soleus Capital is the sole general partner of Master Fund, SCG is the sole managing member of Soleus Capital, SCM is the investment manager for Master Fund, and Soleus GP, LLC is the sole general partner of SCM. Guy Levy is the sole managing member of each of SCG and of Soleus GP, LLC. Each of SCG, Soleus Capital, SCM, Soleus GP, LLC and Mr. Levy disclaims beneficial ownership of these shares held by Master Fund other than for the purpose of determining their obligations under Section 13(d) of the Exchange Act, and the filing of this report shall not be deemed an admission that any of the foregoing persons is the beneficial owner of such shares for any other purpose. (2) The percentage set forth in row 11 is calculated based upon 2,793,386 shares of the common stock of the Issuer outstanding as of August 7, 2026, as set forth on the cover of the Form 10-Q.

SCHEDULE 13G

CUSIP Number(s): 74275C403

1

Names of Reporting Persons

Guy Levy

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 160,943.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 160,943.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

160,943.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: (1) The shares reported in the table above are held directly by Master Fund. Soleus Capital is the sole general partner of Master Fund, SCG is the sole managing member of Soleus Capital, SCM is the investment manager for Master Fund, and Soleus GP, LLC is the sole general partner of SCM. Guy Levy is the sole managing member of each of SCG and of Soleus GP, LLC. Each of SCG, Soleus Capital, SCM, Soleus GP, LLC and Mr. Levy disclaims beneficial ownership of these shares held by Master Fund other than for the purpose of determining their obligations under Section 13(d) of the Exchange Act, and the filing of this report shall not be deemed an admission that any of the foregoing persons is the beneficial owner of such shares for any other purpose. (2) The percentage set forth in row 11 is calculated based upon 2,793,386 shares of the common stock of the Issuer outstanding as of August 7, 2026, as set forth on the cover of the Form 10-Q.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Processa Pharmaceuticals, Inc.
(b)	Address of issuer's principal executive offices: 601 21st Street, Suite 300, Vero Beach, FL 32960
Item 2.
(a)	Name of person filing: Soleus Capital Master Fund, L.P. Soleus Capital, LLC Soleus Capital Group, LLC Soleus Capital Management, L.P. Soleus GP, LLC Guy Levy
(b)	Address or principal business office or, if none, residence: Soleus Capital Master Fund, L.P., 100 Field Point Road, Suite 200, Greenwich, CT 06830 Soleus Capital, LLC, 100 Field Point Road, Suite 200, Greenwich, CT 06830 Soleus Capital Group, LLC, 100 Field Point Road, Suite 200, Greenwich, CT 06830 Soleus Capital Management, L.P., 100 Field Point Road, Suite 200, Greenwich, CT 06830 Soleus GP, LLC, 100 Field Point Road, Suite 200, Greenwich, CT 06830 Guy Levy, c/o Soleus Capital Management, L.P., 100 Field Point Road, Suite 200, Greenwich, CT 06830
(c)	Citizenship: Soleus Capital Master Fund, L.P. - Cayman Islands Soleus Capital, LLC - Delaware Soleus Capital Group, LLC - Delaware Soleus Capital Management, L.P. - Delaware Soleus GP, LLC - Delaware Guy Levy - United States
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP Number(s): 74275C403
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information in rows 5 through 9 and 11 on the cover pages to this Schedule 13G, including the footnotes thereto, is hereby incorporated by reference. 160,943
(b)	Percent of class: 5.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 160,943
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 160,943
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Soleus Capital Master Fund, L.P.

Signature:	/s/ Guy Levy
Name/Title:	Guy Levy / Managing Member of the Managing Member of the General Partner of Soleus Capital Master Fund, L.P.
Date:	08/18/2026

Soleus Capital, LLC

Signature:	/s/ Guy Levy
Name/Title:	Guy Levy / Managing Member of the Managing Member of Soleus Capital, LLC
Date:	08/18/2026

Soleus Capital Group, LLC

Signature:	/s/ Guy Levy
Name/Title:	Guy Levy / Managing Member
Date:	08/18/2026

Soleus Capital Management, L.P.

Signature:	/s/ Guy Levy
Name/Title:	Guy Levy / Managing Member of the General Partner of Soleus Capital Management, L.P.
Date:	08/18/2026

Soleus GP, LLC

Signature:	/s/ Guy Levy
Name/Title:	Guy Levy / Managing Member
Date:	08/18/2026

Guy Levy

Signature:	/s/ Guy Levy
Name/Title:	Guy Levy / Individual
Date:	08/18/2026

Exhibit Information

Exhibit 99.A - Joint Filing Agreement