Processa pharmaceuticals to effect a 1-for-20 reverse stock split

Hanover, md, jan. 18, 2024 (globe newswire) -- processa pharmaceuticals, inc. (nasdaq: pcsa) (“processa” or the “company”), a clinical-stage pharmaceutical company focused on developing the next generation of chemotherapeutic drugs to improve the efficacy and safety for patients suffering from cancer, announces that in conjunction with stockholder approval of the reverse stock split on november 14, 2023, the company's board of directors, on january 8, 2024, determined to fix a split ratio of 1-for-20. the company's common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on monday, january 22, 2024. following the reverse stock split, the company's common stock will continue to trade on the nasdaq capital market under the symbol “pcsa” with the new cusip number 74275c304. the reverse stock split is intended for the company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on the nasdaq capital market.
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