By Ben Glickman


Shares of Processa Pharmaceuticals surged Thursday morning after the company announced the completion of a safety evaluation of its potential cancer treatment.

The stock more than doubled to $5.32 in recent trading. Shares are still down about 20% in the last five days after the company completed a reverse stock split and announced a stock offering.

Hanover, Md.-based Processa said Thursday it completed the safety tolerability evaluation in its Phase 1b trial of Next Generation Capecitabine, or NGC-Cap.

The company said two dosage regimens had been selected for its Phase 2 trial, which will evaluate NGC-Cap in the treatment of advanced or metastatic breast cancer.

Shares of Processa jumped last week after the company announced the U.S. Food and Drug Administration had agreed the company should focus its Phase 2 trial of NGC-Cap on breast cancer patients.

NGC-Cap combines PCS6422, an enzyme inhibitor created by the company, with the common chemotherapy Capecitabine.


Write to Ben Glickman at ben.glickman@wsj.com


(END) Dow Jones Newswires

01-25-24 1023ET