Processa Pharmaceuticals Inc (NASDAQ:PCSA) shares are trading lower by 21.7% to $0.64 Wednesday morning after the company said it recently had a meeting with the FDA about their Next Generation Capecitabine (NGC-Cap) for cancer patients.
The FDA provided guidance on designing the Phase 2 study, protocol and dosage regimen. They anticipate starting enrollment for the Phase 2 study in mid-2024 and believe NGC-Cap might offer a safer and more effective alternative to the existing drug Capecitabine.
The ongoing Phase 1b study’s interim results, expected by the end of the year, indicate improved metabolism and distribution of NGC-Cap compared to Capecitabine.
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According to data from Benzinga Pro, PCSA has a 52-week high of $2.24 and a 52-week low of $0.18.
