Processa Pharmaceuticals Shares More Than Double After Completing Safety Evaluation of Cancer Treatment
By Ben Glickman
Shares of Processa Pharmaceuticals surged Thursday morning after the company announced the completion of a safety evaluation of its potential cancer treatment.
The stock more than doubled to $5.32 in recent trading. Shares are still down about 20% in the last five days after the company completed a reverse stock split and announced a stock offering.
Hanover, Md.-based Processa said Thursday it completed the safety tolerability evaluation in its Phase 1b trial of Next Generation Capecitabine, or NGC-Cap.
The company said two dosage regimens had been selected for its Phase 2 trial, which will evaluate NGC-Cap in the treatment of advanced or metastatic breast cancer.
Shares of Processa jumped last week after the company announced the U.S. Food and Drug Administration had agreed the company should focus its Phase 2 trial of NGC-Cap on breast cancer patients.
NGC-Cap combines PCS6422, an enzyme inhibitor created by the company, with the common chemotherapy Capecitabine.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 25, 2024 10:23 ET (15:23 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth