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Processa Pharmaceuticals announces two special meetings to vote on reverse stock split and acquisition matters
PCSAProcessa Pharmaceuticals, Inc.
Processa Pharmaceuticals is holding two separate special meetings for stockholders to vote on critical corporate actions. The first meeting addresses a proposed reverse stock split necessary to maintain compliance with Nasdaq listing standards, alongside proposals to increase equity incentive plans. The second meeting seeks approval for the conversion of Series A non-voting preferred stock issued during the July acquisition of Vidya Therapeutics into voting common shares. The company completed this acquisition and a concurrent private placement financing of approximately $200 million in July, which generated net proceeds expected to fund operations through the second half of 2029. Processa Pharmaceuticals operates as a clinical-stage biotechnology company focused on developing therapies for immunological and inflammatory diseases.