Processa Pharmaceuticals, Inc.
PCSANasdaqHealthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | $0 | $0 | — |
| Operating income | −$14.0M | −$12.1M | −$11.5M | −$27.5M | −$12.1M | −$15.1M |
| Net income | −$13.6M | −$11.9M | −$11.1M | −$27.4M | −$11.4M | −$14.4M |
| Total assets | $7.8M | $3.2M | $5.8M | $8.6M | $26.5M | $25.2M |
| Total liabilities | $2.2M | $1.5M | $797,484 | $1.1M | $978,405 | $2.3M |
| Equity | $5.6M | $1.7M | $5.0M | $7.5M | $25.5M | $22.9M |
| EPS (diluted) | $-10.36 | $-3.87 | $-8.48 | $-34.05 | $-0.75 | — |
| Shares out. | 5.3M | 2.9M | 24.6M | 15.8M | 15.5M | 5.5M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- −243.2%
- Return on assets
- −173.6%
- Return on capital (ROCE)
- −250.8%
- Liabilities / assets
- 28.6%
- Debt / equity
- 0.40×
- Book value / share
- $1.06
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -48.58distress
- Accruals / assets
- −27.9%clean
- Piotroski F-Score
- 4/7mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 2 severe● 1 warning● 2 good- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Negative operating cash flow
- Conservative leverage (liabilities < 50% of assets)
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗May 16, 2018
- NT 10-Kmissed a reporting deadline ↗Apr 2, 2018
- NT 10-Qmissed a reporting deadline ↗Nov 14, 2017
- NT 10-Kmissed a reporting deadline ↗Mar 31, 2016
- NT 10-Qmissed a reporting deadline ↗Nov 16, 2015
- NT 10-Qmissed a reporting deadline ↗Aug 14, 2015
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
Clinical trials
ClinicalTrials.gov · ongoing · next readout firstInterventional studies led by this company. “Readout” is the trial's primary-completion date — an estimate the sponsor reports, not a guarantee.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Cvi Investments, Inc.Passive (13G)May 15, 2026
- Chiliz Group Ltd.Activist (13D)Feb 23, 2026
- Intracoastal Capital, LlcPassive (13G)Feb 13, 2026
- Armistice Capital, LlcPassive (13G)Aug 14, 2025
- 3i, LpPassive (13G)Jun 23, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 116,594 | 1.9 | -13.9% |
| Apr 30, 2026 | 135,440 | 1.9 | +30.3% |
| Apr 15, 2026 | 103,916 | 1.3 | +80.6% |
| Mar 31, 2026 | 57,548 | 1.3 | +45.7% |
| Mar 13, 2026 | 39,505 | 1.1 | +278.1% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Director / officer changeApr 30, 2026
- Terminated a material agreementFeb 19, 2026
- Other material eventJan 7, 2026
- Modified shareholder rights · Amended charter or bylawsDec 15, 2025
- Shareholder voteSep 12, 2025
- Shareholder voteSep 10, 2025
- Shareholder voteSep 2, 2025
- Other material eventAug 25, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 4FORM 4Jun 1, 2026
- 4FORM 4Jun 1, 2026
- 4FORM 4Jun 1, 2026
- 4FORM 4Jun 1, 2026
- 4FORM 4Jun 1, 2026
- 4FORM 4May 19, 2026
- 4FORM 4May 19, 2026
- 4FORM 4May 19, 2026
- 4FORM 4May 19, 2026
- 4FORM 4May 19, 2026
- 4/AFORM 4/AMay 19, 2026
- 4/AFORM 4/AMay 19, 2026
- SCHEDULE 13G/AMay 15, 2026
- 10-QMay 7, 2026
- 4FORM 4May 1, 2026
Event-driven situations (1)
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