Processa Pharmaceuticals Shares More Than Double After Completing Safety Evaluation of Cancer Treatment
25 January 2024 - 3:38PM
Dow Jones News
By Ben Glickman
Shares of Processa Pharmaceuticals surged Thursday morning after
the company announced the completion of a safety evaluation of its
potential cancer treatment.
The stock more than doubled to $5.32 in recent trading. Shares
are still down about 20% in the last five days after the company
completed a reverse stock split and announced a stock offering.
Hanover, Md.-based Processa said Thursday it completed the
safety tolerability evaluation in its Phase 1b trial of Next
Generation Capecitabine, or NGC-Cap.
The company said two dosage regimens had been selected for its
Phase 2 trial, which will evaluate NGC-Cap in the treatment of
advanced or metastatic breast cancer.
Shares of Processa jumped last week after the company announced
the U.S. Food and Drug Administration had agreed the company should
focus its Phase 2 trial of NGC-Cap on breast cancer patients.
NGC-Cap combines PCS6422, an enzyme inhibitor created by the
company, with the common chemotherapy Capecitabine.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 25, 2024 10:23 ET (15:23 GMT)
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