SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 19, 2022
PROCESSA PHARMACEUTICALS, INC.
(Exact Name of Registrant as Specified in its Charter)
|(State or Other Jurisdiction|
7380 Coca Cola Drive, Suite 106,
(Address of Principal Executive
Registrant’s telephone number, including area code: (443) 776-3133
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
|Common Stock, $0.0001 par value per share||PCSA||Nasdaq Capital Market|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
|Item 5.02||Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.|
On July 19, 2022, the Board of Directors of Processa Pharmaceuticals, Inc. (the “Company”) appointed James R. Neal to its Board of Directors, effective immediately. Mr. Neal will serve until the Processa Pharmaceuticals, Inc. 2023 Annual Meeting of Shareholders, or until the earlier of: his death, resignation or removal.
Mr. Neal, age 66, is currently the Chief Executive Officer and Chairman of the Board for XOMA, Inc. Mr. Neal serves on the Board of Directors of Palisade Bio, Inc., a clinical-stage biopharmaceutical company, where he is part of their Compensation Committee and is also Chairman of the Board of Directors of Monterey Bio Acquisition Corporation. The Board elected Mr. Neal because of his extensive experience in the life sciences industry and experience with public companies.
Mr. Neal will be compensated according to Company’s compensation program for non-employee directors as described in the Company’s Proxy Statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on May 31, 2022.
|Item 9.01(d)||Financial Statements and Exhibits|
|104||Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL documents)|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|PROCESSA PHARMACEUTICALS, INC.|
|Date: July 25, 2022||By:||/s/ James Stanker|
|Chief Financial Officer|