---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-007469"
form_type: "8-K"
ticker: "PCSA"
cik: "0001533743"
company_name: "Processa Pharmaceuticals, Inc."
filed_at: "2026-02-19T23:59:59+00:00"
generated_at: "2026-05-16T01:43:32.195634+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-26-007469
- form_type: 8-K
- ticker: PCSA
- cik: 0001533743
- company_name: Processa Pharmaceuticals, Inc.
- filed_at: 2026-02-19T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1533743/000149315226007469/0001493152-26-007469-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1533743/000149315226007469/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-007469
- JSON: https://secwatch.observer/filing/0001493152-26-007469.json
- Plain text: https://secwatch.observer/filing/0001493152-26-007469.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533743/000149315226007469/0001493152-26-007469-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.