Quick Take
Processa Pharmaceuticals (OTCPK:PCSA) has filed to raise $16 million in an IPO of its common stock, according to an S-1 registration statement.
The firm is primarily developing a treatment for necrobiosis lipoidica, a chronic arterial disease of the limbs.
PCSA is in mid-Phase 2 trials for its lead candidate and we likely will not have further trial status data until 2020 or 2021.
Company & Technology
Hanover, Maryland-based Processa was founded to develop an analog of an active metabolite of an existing approved drug in order to treat necrobiosis lipoidica.