Stock plummets as public offering is priced

  • Processa Pharmaceuticals shares drop 24% after pricing offering
  • Stock down 24% at $3.87 in morning trading
  • Shares have fallen nearly 40% since the start of the year
  • Public offering consists of 1.56 million common shares and common warrants
  • Company expecting $7 million in gross proceeds
  • Shares more than doubled after completing safety tolerability evaluation of potential cancer treatment
  • Shares slumped after announcement of public offering

Shares of Processa Pharmaceuticals slumped 24% after the company’s public offering was priced. The stock, currently trading at $3.87, has fallen nearly 40% since the beginning of the year. The public offering consists of 1.56 million common shares and common warrants, with a combined price of $4.50. The company is expecting $7 million in gross proceeds. Processa shares experienced significant volatility in the past week, doubling in value after completing a safety tolerability evaluation of its potential cancer treatment, but slumping after the announcement of the public offering.

Public Companies: Processa Pharmaceuticals (N/A)
Private Companies:
Key People:

Factuality Level: 7
Justification: The article provides factual information about the stock price of Processa Pharmaceuticals, the details of its public offering, and the recent fluctuations in its share price. However, it does not provide any analysis or context about the reasons behind the stock’s performance or the company’s potential cancer treatment.

Noise Level: 3
Justification: The article provides relevant information about the slumping shares of Processa Pharmaceuticals and the reasons behind it. However, it lacks in-depth analysis, scientific rigor, and actionable insights. It mainly focuses on the stock price movement and the company’s public offering, without exploring the long-term trends or consequences of these events.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Processa Pharmaceuticals

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the impact of Processa Pharmaceuticals’ public offering on its stock price. There is no mention of an extreme event.

Reported publicly: www.marketwatch.com