Current Report Filing (8-k)
13 Ottobre 2020 - 3:31PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): October 6, 2020
PROCESSA
PHARMACEUTICALS, INC.
(Exact
Name of Registrant as Specified in its Charter)
Delaware
|
|
001-39531
|
|
45-1539785
|
(State
or Other Jurisdiction
of Incorporation)
|
|
(Commission
File Number)
|
|
(IRS
Employer
Identification No.)
|
|
|
7380
Coca Cola Drive, Suite 106, Hanover, Maryland
|
|
21076
|
|
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
Registrant’s
telephone number, including area code: (443) 776-3133
Not
Applicable
(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
|
|
The
Nasdaq Stock Market LLC
|
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 Director; Appointment of Certain officers; Compensatory Arrangements of Certain
Officers.
|
On
October 6, 2020, Dr. David Young, President and CEO of Processa Pharmaceuticals, Inc. (the “Company” or “Processa”)
appointed R. Michael Floyd, age 64, as Chief Operating Officer of the Company and entered into an employment agreement (the “Agreement”)
between the Company and Mr. Floyd, governing the terms of Mr. Floyd’s employment, which became effective October 1, 2020.
Mr.
Floyd has been a serial entrepreneur with over 15 years’ experience with early stage biopharma businesses in infectious
diseases, oncology and rare diseases. In 1996 he founded Neurologic, an early stage enterprise that in-licensed technology from
the National Institutes of Health for a diagnostic test for Alzheimer’s disease. Mr. Floyd was the co-author of the plan
that created the Blanchette Rockefeller Neurosciences Institute in 1998 with the Honorable Jay Rockefeller and Johns Hopkins University.
Mr. Floyd was the chief executive officer for the North American subsidiary of Arpida Ltd. from 2006 where he organized the phase
3 program for an MRSA drug and oversaw the NDA submission. Mr. Floyd led the US efforts to remediate the NDA for Gentium, SpA
for defibrotide from 2011. Mr. Floyd was a founder of Bio-AIM, which is developing monoclonal antibodies for Acinetobacter baumannii
and Exbaq which is developing therapies for Gram negative pathogens. In 2016, Mr. Floyd co-founded Elion Oncology and has served
as its Chief Executive officer until joining Processa. Mr. Floyd received a BSBA in accounting from Georgetown University and
is a CPA (inactive).
Pursuant
to the Agreement, Mr. Floyd will receive an annual base salary of $87,500. The Company granted Mr. Floyd 50,000 Restricted Stock
Units of the Company’s common stock. The RSUs will vest over 4-years at 25% each year. In the event Mr. Floyd is terminated
without Cause (as defined in the Agreement), or for Good Reason (as defined in the Agreement) the Company is required to provide,
in writing 52 weeks’ notice The RSUs shall fully vest upon Change in Control (as defined in the Agreement) of if Mr. Floyd
is terminated without Cause or for Good Reason. He may also receive a severance payment at Processa’s discretion. Mr. Floyd
is entitled to participate in all employee benefits available to employees of the Company. The Employment Agreement also includes
confidentiality provisions.
A
press release announcing Mr. Floyd’s employment is filed as Exhibit 99.1 hereto.
The
foregoing summary of the Agreement is qualified in its entirety by the copy of such agreement filed as Exhibit 10.1 hereto and
incorporated herein by this reference.
Item 9.01.
|
Financial Statements and Exhibits.
|
SIGNATURES
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:
October 13, 2020
|
By:
|
/s/
David Young
|
|
|
David
Young
|
|
|
Chief
Executive Officer
|
Grafico Azioni Processa Pharmaceuticals (NASDAQ:PCSA)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Processa Pharmaceuticals (NASDAQ:PCSA)
Storico
Da Lug 2023 a Lug 2024