Exhibit 99.1

Processa Pharmaceuticals Announces Second Quarter 2021 Results and Provides Corporate Update

Adds fourth clinical asset, RX-3117, and targets major milestones in the second half of 2021

HANOVER, Md., August 12, 2021 — Processa Pharmaceuticals, Inc. (Nasdaq: PCSA), a clinical stage biopharmaceutical company developing drugs to improve the survival and/or quality of life for patients who have an unmet medical need condition, announces today financial results for the quarter ended June 30, 2021, and provides corporate update.

Dr. David Young, CEO and chairman of Processa, commented, “During the second quarter we made significant progress advancing our clinical programs, in-licensed another clinical asset - RX-3117 – and will have four clinical programs with addressable markets of $500 million to $1.5 billion. Looking at upcoming milestones, we have begun to develop the biomarker assays for 3117 in pancreatic cancer patients with the expectation that the assay validation will be completed in the first half of 2022. We also anticipate filing an IND in September for PCS12852 with site initiation beginning before year end. Additionally, we expect interim data for PCS6422 in the fourth quarter of 2021 and interim data for PCS499 during the first half of 2022. Taken altogether, we see a consistent cadence of upcoming catalysts and tremendous amount of near-term value creation.”

Recent Highlights and New Developments

Upcoming Clinical Drug Development Milestones

Second half of 2021

2022

Financial Results for the second quarter of 2021

Our cash and cash equivalents totaled $20.8 million as of June 30, 2021, compared to $15.4 million as of December 31, 2020 and we had 15.6 million shares of common stock outstanding as of August 2, 2021.

Our research and development expenses for the three months ended June 30, 2021 were $1.6 million compared to $427 thousand for the three months ended June 30, 2020. General and administrative expenses for the three months ended June 30, 2021 were $1.3 million compared to $375 thousand for the three months ended June 30, 2020. Our total stock-based compensation included in general and administrative expenses for the three months ended June 30, 2021 was $674 thousand compared to $87 thousand for the three months ended June 30, 2020. We reported a net loss for the three months ended June 30, 2021 of $3.2 million compared to a net loss for the comparable prior year period of $733 thousand. Our net loss per share for the three months ended June 30, 2021 was $0.20 compared to net loss per share for the three months ended June 30, 2020 of $0.13.

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About Processa Pharmaceuticals, Inc.

Our mission is to develop drug products that improve the survival and/or quality of life for patients with high unmet medical need conditions. We are a development company, not a discovery company, that seeks to identify and develop drugs for patients who need better treatment options than presently exist for their medical condition. To increase the probability of development success, our pipeline only includes drugs which have previously demonstrated some efficacy in the targeted population or a drug with very similar pharmacological properties has been shown to be effective in the population. We currently have three drugs in various stages of clinical development: PCS499 for Ulcerative Necrobiosis in Phase 2B; PCS3117 for metastatic pancreatic cancer and non-small cell lung cancer in Phase 2B; and PCS6422 for metastatic colorectal cancer and breast cancer in Phase 1B. The PCS12852 IND for the treatment of gastroparesis will be submitted in the third quarter of 2021. For more information, visit the company’s website at www.ProcessaPharma.com.