Processa's binding term sheet with Intact Therapeutics for PCS12852 expires without deal

Processa Pharmaceuticals, Inc.

Binding Term Sheet dated June 17, 2025 with Intact Therapeutics expired February 12, 2026.
No definitive license agreement was executed regarding PCS12852.
Proposed amendment to the Yuhan Corporation License Agreement was not entered.
Neither party has any remaining obligations under the expired term sheet.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Processa Pharmaceuticals, Inc. terminated Binding Term Sheet with Intact Therapeutics valued at Term Sheet expired without execution of definitive license agreement (effective 2026-02-12).

Action: termination
Agreement: license
Counterparty: Intact Therapeutics
Value: Term Sheet expired without execution of definitive license agreement
Effective: 2026-02-12

Exact text from the filing

On February 12, 2026, Processa Pharmaceuticals, Inc.’s (the “Company”) Binding Term Sheet dated June 17, 2025 (the “Term Sheet”) with Intact Therapeutics regarding PCS12852 expired without the execution of a definitive license agreement and without the entry into the related proposed amendment to the License Agreement with Yuhan Corporation.

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Source: SEC EDGAR

accession 0001493152-26-007469

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