Processa provides pipeline update, Q2 net loss $3.0M; Phase 2 NGC-Cap trial underway

Processa Pharmaceuticals, Inc.

FDA cleared IND for NGC-Cap Phase 2 in July 2024; multicenter trial in metastatic breast cancer initiated, initial data expected mid-2025.
Net loss for Q2 2024 was $3.0M ($1.01 per share) vs $2.6M ($1.94 per share) in Q2 2023; per-share reflects 1-for-20 reverse split.
Cash and cash equivalents $5.6M as of June 30, 2024; R&D expenses unchanged at $1.7M, G&A increased to $1.4M.
Preclinical NGC-Iri study shows greater SN-38 accumulation in tumor vs non-cancer tissues compared to irinotecan and Onivyde.
NGC-Cap Phase 1b data: 66.7% of patients had partial response or stable disease; progression-free survival 5-11 months.

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