HANOVER, MD - Processa Pharmaceuticals, Inc. (NASDAQ:PCSA), a clinical-stage company developing chemotherapeutic drugs, has announced its return to compliance with Nasdaq's minimum bid price requirement. The company's shares maintained a closing bid price of at least $1.00 over 10 consecutive business days, satisfying the condition by February 2, 2024.
This development marks the closure of Nasdaq's notice of noncompliance to Processa, which is now back in line with the Nasdaq Listing Rule 5550(a)(2) for continued listing on the market. Processa's efforts are focused on the next generation of chemotherapy drugs aimed at enhancing safety and effectiveness for cancer patients.
The company's portfolio includes three next-generation chemotherapy treatments targeting various cancers, including breast, colorectal, and pancreatic. These drugs are designed to reduce side effects and improve patient response by modifying the metabolism and distribution of FDA-approved oncology drugs.
Processa's approach leverages its Regulatory Science Approach and aligns with the FDA's Project Optimus Oncology initiative to determine optimal dosage regimens. Their strategy, grounded in over 30 years of drug development experience, aims to increase the likelihood of FDA approval for their treatments.
The press release also contains forward-looking statements regarding the company's future performance and outcomes, which are subject to risks and uncertainties. Investors are advised to consider the risk factors outlined in Processa Pharmaceuticals' SEC filings, including their most recent 10-K and 10-Q reports.
The information in this article is based on a press release statement from Processa Pharmaceuticals.
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