Why Is Processa Pharmaceuticals (PCSA) Stock Up 29% Today?

Processa Pharmaceuticals (NASDAQ:PCSA) stock is rising higher on Tuesday after the company posted an update from the Food and Drug Administration (FDA). The FDA has cleared Processa Pharmaceuticals for its Phase 2 clinical trial Next Generation Capecitabine (NGC-Cap). This is the company’s lead product candidate and is designed to treat patients with advanced or metastatic breast cancer. With this approval, Processa Pharmaceuticals is able to move forward with a clinical trial of NGC-Cap. The company says that it expect to start enrolling patients in this study this quarter. David Young, president of research and development at Processa Pharmaceuticals, said this about NGC-Cap. “We previously demonstrated in our Phase 1b study that NGC-Cap is more potent than monotherapy capecitabine, providing up to 5-10 times more 5-fluorouracil exposure to cancer cells. This greater exposure resulted in a greater efficacy, with a safety profile better or similar to existing monotherapy with capecitabine.” PCSA Stock Movement Today With all of this comes heavy trading of PCSA stock today. That has more than 51 million shares changing hands as of this writing. This is a massive surge compared to the company’s daily average trading volume of about 90,000 shares. PCSA stock is up 29.4% as of Tuesday morning. Investors seeking out even more of the most recent stock market stories are going to want to stick around! We are offering up insight into all of the hottest stock market news that investors need to know about on Tuesday! A few examples include what’s happening with shares of Tesla (NASDAQ:TSLA), Delta (NYSE:DAL) and SoFi (NASDAQ:SOFI) stock today. All of that news is ready to go at the links below! More Stock Market News for Tuesday TSLA Stock Drops as Tesla Recalls 1.8 Million EVs Over Hood Issue DAL Stock: Delta Wants CrowdStrike to Pay Up for Flight Delays Caused by Outage SOFI Stock: SoFi Just Raised Its Profit Guidance Again. What’s Going On? On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.