Ongoing clinical trials bring sharp decline in stock price for Processa Pharmaceuticals

Instilling stock decline but advancing clinical trials, including NGC-Cap for breast cancer, the company remains financially sound.

Processa Pharmaceuticals Inc. (PCSA) recently took its stock to a 52 week low of $0.85 and has a market value of $2.94 million. Consequently, over the past year the micro-cap pharmaceutical company has been down 87.67%. However, the company’s current ratio of 3.97 is far from dwindling.

Processa Pharmaceuticals has dosed its very first patient in NGC-Cap, an upcoming treatment for advanced or metastatic breast cancer, in its Phase 2 trial. The trial is part of the FDA's Project Optimus Initiative and compares the efficacy of treatment with that of monotherapy capecitabine.

The drug development agency, FDA, has also given clearance to Processa for its Investigational New Drug (IND) application pertaining to NGC-Iri, another important product in the pipeline. H.C. Wainwright has retained a Buy rating on the company, while analysts remain positive despite the most recent net loss.