$PCSA
Processa Pharmaceuticals, Inc.

2024 Q4 Form 10-Q Financial Statement

#000149315224043058 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.137M
YoY Change 11.5%
% of Gross Profit
Research & Development $2.288M
YoY Change 98.61%
% of Gross Profit
Depreciation & Amortization $200.00
YoY Change
% of Gross Profit
Operating Expenses $2.288M
YoY Change 98.61%
Operating Profit -$3.425M
YoY Change 58.0%
Interest Expense $40.15K
YoY Change -55.39%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$3.385M
YoY Change 62.73%
Income Tax
% Of Pretax Income
Net Earnings -$3.385M
YoY Change 62.57%
Net Earnings / Revenue
Basic Earnings Per Share -$1.03
Diluted Earnings Per Share -$1.03
COMMON SHARES
Basic Shares Outstanding 3.267M shares 3.257M shares
Diluted Shares Outstanding 3.276M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.891M
YoY Change -57.85%
Cash & Equivalents $2.900M
Short-Term Investments
Other Short-Term Assets $1.947M
YoY Change 85.4%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $4.838M
YoY Change -38.82%
LONG-TERM ASSETS
Property, Plant & Equipment $5.317K
YoY Change 97.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.540K
YoY Change -96.79%
Total Long-Term Assets $104.0K
YoY Change -40.65%
TOTAL ASSETS
Total Short-Term Assets $4.838M
Total Long-Term Assets $104.0K
Total Assets $4.942M
YoY Change -38.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $711.7K
YoY Change 105.52%
Accrued Expenses $412.8K
YoY Change 104.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $5.900K
YoY Change
Total Short-Term Liabilities $1.219M
YoY Change 47.59%
LONG-TERM LIABILITIES
Long-Term Debt $2.170K
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $2.170K
YoY Change -97.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.219M
Total Long-Term Liabilities $2.170K
Total Liabilities $1.221M
YoY Change 33.51%
SHAREHOLDERS EQUITY
Retained Earnings -$84.50M
YoY Change 15.75%
Common Stock $88.51M
YoY Change 10.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $300.0K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $3.721M
YoY Change
Total Liabilities & Shareholders Equity $4.942M
YoY Change -38.86%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$3.385M
YoY Change 62.57%
Depreciation, Depletion And Amortization $200.00
YoY Change
Cash From Operating Activities -$3.603M
YoY Change 104.69%
INVESTING ACTIVITIES
Capital Expenditures $3.240K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.240K
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 926.2K
YoY Change -1952.38%
NET CHANGE
Cash From Operating Activities -3.603M
Cash From Investing Activities -3.240K
Cash From Financing Activities 926.2K
Net Change In Cash -2.680M
YoY Change 48.05%
FREE CASH FLOW
Cash From Operating Activities -$3.603M
Capital Expenditures $3.240K
Free Cash Flow -$3.606M
YoY Change 104.88%

Facts In Submission

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CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-84500000 usd
us-gaap Net Income Loss
NetIncomeLoss
-9100000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9000000.0 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6300000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2900000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zds2NyEprpAk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_86D_zoyRkaPUe02d">Use of Estimates</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 U.S. 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zvl5EuBBYdc4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_868_z0jD3dZ0B9t1">Concentration of Credit Risk</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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, 2024, exceeded FDIC limits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
PCSA Stock Issued During Period Shares Stock Withheld For Income Taxes
StockIssuedDuringPeriodSharesStockWithheldForIncomeTaxes
7154 shares
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
154191 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
142894 usd
us-gaap Share Based Compensation
ShareBasedCompensation
474466 usd
us-gaap Share Based Compensation
ShareBasedCompensation
803521 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3384703 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2081951 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9121410 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8716589 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3275998 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3275998 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1350188 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1350188 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2909941 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2909941 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1279298 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1279298 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.03
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.03
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.54
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.81
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.81
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3275998 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3275998 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1350188 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1350188 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2909941 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2909941 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1279298 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1279298 shares
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2018880 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2018880 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
289936 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
289936 shares
CY2024Q3 PCSA Operating And Financing Lease Weighted Average Discount Rate
OperatingAndFinancingLeaseWeightedAverageDiscountRate
0.08 pure
CY2024Q3 us-gaap Lease Cost
LeaseCost
23000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
24000 usd
us-gaap Lease Cost
LeaseCost
68000 usd
us-gaap Lease Cost
LeaseCost
73000 usd
CY2024Q3 PCSA Operating And Financing Lease Weighted Average Discount Rate
OperatingAndFinancingLeaseWeightedAverageDiscountRate
0.080 pure
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
23347 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
70040 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
93387 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4610 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
88777 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
88777 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1616 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
6820 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
488 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
8924 usd
CY2024Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
857 usd
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
8067 usd
CY2024Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
5899 usd
CY2024Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2168 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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