UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 8.01. Other Event.
On October 2, 2024, Processa Pharmaceuticals, Inc. (the “Company”) issued a press release announcing the dosing of a patient in a Phase 2 clinical trial of NGC-Cap which satisfies the diligence milestone under the Company’s license agreement for PCS6422 with Elion Oncology, Inc. Multiple trial sites have been established and are now recruiting patients. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference.
The Company has now timely satisfied all of the Company’s diligence obligations, as enumerated in Article V, in its license agreement with Elion Oncology, Inc. The Company has previously referred to the Condition Precedent Satisfaction Date for its diligence obligations as October 2, 2024, but has determined that such statements should have been October 6, 2024 which is the anniversary of the funding event that triggers the calculation of the Condition Precedent Satisfaction Date.
Safe Harbor Statement
Information provided in this Current Report on Form 8-K contain forward-looking statements. The statements in this Current Report on Form 8-K that are not purely historical are forward-looking statements which involve risks and uncertainties. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Please refer to the documents filed by the Company with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements.
These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as and to the extent required by law.
Item 9.01. Financial Statements and Exhibits.
| Exhibit No. | Exhibit Description | |
| 99.1 | Press Release dated October 2, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized, on October 2, 2024.
| PROCESSA PHARMACEUTICALS, INC. | ||
| Registrant | ||
| By: | /s/ George Ng | |
| George Ng | ||
| Chief Executive Officer | ||