Why Processa Pharmaceuticals Stock Is Soaring

Processa Pharmaceuticals, Inc. PCSA shares are soaring Thursday after the company announced the completion of the safety tolerability evaluation in its Phase 1b trial of Next Generation Capecitabine.

The Details:

Processa said the data obtained from the Phase 1b trial has been used to select two dosage regimens for the Phase 2 trial which will be in advanced or metastatic breast cancer given the FDA’s agreement that the Phase 1b data can be used to support the design of the Phase 2 trial in breast cancer.

“The data obtained from the Phase 1b trial — together with the feedback from the FDA — have allowed us to develop a Phase 2 and 3 strategy that will likely be more efficient in terms of time and cost as well as lead to a greater likelihood of FDA approval as we expand into advanced or metastatic breast cancer in Phase 2,” concluded David Young, PharmD, Ph.D., president of research and development at Processa.

Processa shares are moving on very heavy trading volume with more than 36.3 million shares already traded in the session which resulted in a circuit breaker halt to trading early Thursday. According to data from Benzinga Pro, the stock’s average trading volume is less than 96,000 shares.

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PCSA Price Action: According to Benzinga Pro, Processa Pharmaceuticals shares are up 148% at $5.09 at the time of publication.

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