$PCSA
Processa Pharmaceuticals, Inc. Stock $pcsa

$pcsa Overview Financials Valuation SEC Filings Company Website

2022 Q4 Form 10-Q Financial Statement

#000149315222030942 Filed on November 08, 2022

Income Statement

Concept	2022 Q4	2022 Q3	2021 Q3
Revenue	$0.00	$0.00	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$2.625M	$2.920M	$1.338M
YoY Change	102.29%	118.24%	218.6%
% of Gross Profit
Research & Development	$2.977M	$3.137M	$1.527M
YoY Change	58.86%	105.47%	362.62%
% of Gross Profit
Depreciation & Amortization	$197.1K	$197.1K	$195.7K
YoY Change	0.01%	0.72%	-6.8%
% of Gross Profit
Operating Expenses	$5.800M	$3.137M	$3.060M
YoY Change	72.15%	2.49%	218.8%
Operating Profit		-$6.057M	-$3.111M
YoY Change		94.67%
Interest Expense	$55.53K	$36.71K
YoY Change	1504.91%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income	-$13.01M	-$6.020M	-$3.110M
YoY Change	286.63%	93.6%	-0.97%
Income Tax	$0.00		-$122.4K
% Of Pretax Income
Net Earnings	-$13.01M	-$6.020M	-$2.987M
YoY Change	308.71%	101.54%	-2.7%
Net Earnings / Revenue
Basic Earnings Per Share		-$0.37	-$0.19
Diluted Earnings Per Share	-$0.79	-$371.6K	-$192.3K
COMMON SHARES
Basic Shares Outstanding	15.99M shares	15.86M shares	15.53M shares
Diluted Shares Outstanding		16.20M shares

Balance Sheet

Concept	2022 Q4	2022 Q3	2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$6.504M	$9.055M	$19.09M
YoY Change	-60.58%	-52.58%	5685.82%
Cash & Equivalents	$6.504M	$9.055M	$19.09M
Short-Term Investments
Other Short-Term Assets	$1.883M	$1.832M	$1.507M
YoY Change	7.04%	21.61%	3666.5%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$8.387M	$10.89M	$20.67M
YoY Change	-54.24%	-47.33%	5399.0%
LONG-TERM ASSETS
Property, Plant & Equipment	$227.6K
YoY Change
Goodwill
YoY Change
Intangibles	$0.00	$7.465M
YoY Change	-100.0%
Long-Term Investments
YoY Change
Other Assets	$5.535K	$7.718M	$5.540K
YoY Change	-99.93%	139210.11%	-44.6%
Total Long-Term Assets	$233.1K	$7.718M	$8.355M
YoY Change	-97.13%	-7.63%	-9.32%
TOTAL ASSETS
Total Short-Term Assets	$8.387M	$10.89M	$20.67M
Total Long-Term Assets	$233.1K	$7.718M	$8.355M
Total Assets	$8.620M	$18.60M	$29.03M
YoY Change	-67.43%	-35.9%	202.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$327.5K	$311.1K	$355.0K
YoY Change	49.63%	-12.37%	-17.45%
Accrued Expenses	$403.1K	$216.4K	$471.4K
YoY Change	44.33%	-54.1%	-17.29%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change			-100.0%
Long-Term Debt Due			$0.00
YoY Change			-100.0%
Total Short-Term Liabilities	$998.6K	$1.193M	$1.226M
YoY Change	2.84%	-2.75%	-53.89%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change			-100.0%
Other Long-Term Liabilities	$150.6K	$171.7K	$408.8K
YoY Change	1937.21%	-57.99%	354.19%
Total Long-Term Liabilities	$150.6K	$171.7K	$408.8K
YoY Change	1937.21%	-57.99%	155.48%
TOTAL LIABILITIES
Total Short-Term Liabilities	$998.6K	$1.193M	$1.226M
Total Long-Term Liabilities	$150.6K	$171.7K	$408.8K
Total Liabilities	$1.149M	$1.364M	$1.817M
YoY Change	17.45%	-24.9%	-55.25%
SHAREHOLDERS EQUITY
Retained Earnings	-$64.20M	-$51.20M
YoY Change	74.35%
Common Stock	$72.02M	$68.78M
YoY Change	15.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$300.0K	$300.0K
YoY Change
Treasury Stock Shares		100.0K shares
Shareholders Equity	$7.471M	$17.24M	$27.21M
YoY Change
Total Liabilities & Shareholders Equity	$8.620M	$18.60M	$29.03M
YoY Change	-67.43%	-35.9%	202.66%

Cashflow Statement

Concept	2022 Q4	2022 Q3	2021 Q3
OPERATING ACTIVITIES
Net Income	-$13.01M	-$6.020M	-$2.987M
YoY Change	308.71%	101.54%	-2.7%
Depreciation, Depletion And Amortization	$197.1K	$197.1K	$195.7K
YoY Change	0.01%	0.72%	-6.8%
Cash From Operating Activities	-$2.497M	-$2.974M	-$1.553M
YoY Change	-8.42%	91.54%	-5276.1%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-53.59K	-35.25K	-185.2K
YoY Change	-140.8%	-80.96%	15.74%
NET CHANGE
Cash From Operating Activities	-2.497M	-2.974M	-1.553M
Cash From Investing Activities
Cash From Financing Activities	-53.59K	-35.25K	-185.2K
Net Change In Cash	-2.551M	-3.010M	-1.738M
YoY Change	-1.72%	73.16%	1236.93%
FREE CASH FLOW
Cash From Operating Activities	-$2.497M	-$2.974M	-$1.553M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-299074	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	664417	usd
	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-69420	usd
	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-64121	usd
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	362	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	92161	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	34283	usd
	us-gaap	Increase Decrease In Due To Related Parties IncreaseDecreaseInDueToRelatedParties	-1772	usd
	us-gaap	Increase Decrease In Due To Related Parties IncreaseDecreaseInDueToRelatedParties	84872	usd
	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	-70274	usd
	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	-6750	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-62858	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	123984	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-7107758	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-5990321	usd
	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	9875550	usd
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	35247	usd
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	27980	usd
	us-gaap	Proceeds From Repurchase Of Equity ProceedsFromRepurchaseOfEquity	-300000	usd
	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-180285	usd
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	15416224	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-7100000	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	0	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	9054576	usd
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	238924	usd
	PCSA	Operating Lease Liabilities OperatingLeaseLiabilities	238924	usd
CY2022Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-51200000	usd
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	19093188	usd
	us-gaap	Net Income Loss NetIncomeLoss	-14400000	usd
	us-gaap	Other Noncash Expense OtherNoncashExpense	7000000.0	usd
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.54
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_848_eus-gaap--UseOfEstimates_zc2cuTsxsrKj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline"><span id="xdx_869_zwOofzLxYFYl">Use of Estimates</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In preparing our condensed consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, we make estimates and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to preclinical and clinical trial expenses, stock-based compensation, intangible assets, future milestone payments and income taxes. These estimates and assumptions are continuously evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. While we believe the estimates to be reasonable, actual results could differ materially from those estimates and could impact future results of operations and cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3	us-gaap	Operating Loss Carryforwards OperatingLossCarryforwards	2000000	usd
CY2021Q4	us-gaap	Operating Loss Carryforwards OperatingLossCarryforwards	2000000	usd
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	2760527	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	844393	shares
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_84E_eus-gaap--ConcentrationRiskCreditRisk_z2OgJTDgQNU2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i><span style="text-decoration: underline"><span id="xdx_86F_z9WPm7p0G2Yf">Concentration of Credit Risk</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject us to significant concentration of credit risk consist primarily of our cash and cash equivalents. We utilize only well-established banks and financial institutions with high credit ratings. Balances on deposit are insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits. Total cash held by our banks at September 30, 2022 exceeded FDIC limits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span id="xdx_862_z7MRvD0SOfG8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Recent Accounting Pronouncements</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, the Financial Accounting Standards Board (“FASB”) or other standard setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification are communicated through issuance of an Accounting Standards Update (“ASU”). We have implemented all new accounting pronouncements that are in effect and that may impact our condensed consolidated financial statements. We have evaluated recently issued accounting pronouncements and determined that there is no material impact on our condensed consolidated financial position or results of operations.</span></p>
CY2022Q3	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	11059429	usd
CY2021Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	11059429	usd
CY2022Q3	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	3594163	usd
CY2021Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	3002791	usd
CY2022Q3	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	7465266	usd
CY2021Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	8056638	usd
CY2022Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	197124	usd
CY2021Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	195700	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	591372	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	593365	usd
CY2022Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	788000	usd
CY2022Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2022Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2021Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2021Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2021Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	30000000	shares
CY2022Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	50000000	shares
CY2022Q3	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.08	pure
CY2022Q3	us-gaap	Lease Cost LeaseCost	23681	usd
CY2021Q3	us-gaap	Lease Cost LeaseCost	24198	usd
	us-gaap	Lease Cost LeaseCost	72209	usd
CY2022Q3	us-gaap	Share Based Compensation ShareBasedCompensation	3213815	usd
CY2021Q3	us-gaap	Share Based Compensation ShareBasedCompensation	1114241	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	6052081	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	2287863	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-6020410	usd
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	-2987217	usd
	us-gaap	Net Income Loss NetIncomeLoss	-14411909	usd
	us-gaap	Net Income Loss NetIncomeLoss	-8243740	usd
CY2022Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	16200222	shares
CY2021Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	15531442	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	15991653	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	15177306	shares
CY2022Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.37
CY2021Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.19
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.90
	us-gaap	Lease Cost LeaseCost	70029	usd
CY2022Q3	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P2Y11M12D
CY2022Q3	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.080	pure
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	23192	usd
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	93629	usd
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	92302	usd
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	70040	usd
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	279163	usd
CY2022Q3	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	31196	usd
CY2022Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	247967	usd
CY2022Q3	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	76260	usd
CY2022Q3	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	171707	usd

Files In Submission

Name	View Source	Status
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0001493152-22-030942-index.html	Edgar Link	pending
0001493152-22-030942.txt	Edgar Link	pending
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ex10-1_001.jpg	Edgar Link	pending
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ex10-1_005.jpg	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
form10-q.htm	Edgar Link	pending
form10-q_1.jpg	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
pcsa-20220930.xsd	Edgar Link	pending
R1.htm	Edgar Link	pending
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pcsa-20220930_def.xml	Edgar Link	unprocessable
pcsa-20220930_lab.xml	Edgar Link	unprocessable
form10-q_htm.xml	Edgar Link	completed
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
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R28.htm	Edgar Link	pending
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R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$PCSA
Processa Pharmaceuticals, Inc. Stock $pcsa

2022 Q4 Form 10-Q Financial Statement

#000149315222030942 Filed on November 08, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PCSA Processa Pharmaceuticals, Inc. Stock $pcsa

2022 Q4 Form 10-Q Financial Statement

#000149315222030942 Filed on November 08, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PCSA
Processa Pharmaceuticals, Inc. Stock $pcsa