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2. Continue Reading for Recent News, Management Background and Our Disclosure... Clinical Development - Potential $1B Markets for Each Drug PCS499 - Most Advanced Clinical Program to Treat Patients with a Rare Disfiguring Disease PCS499 is the orally administered, deuterated analog of one of the major metabolites of pentoxifylli ne (PTX or Trental®). PCS499 has received orphan designation for the treatment of Necrobiosis Lipoidica (NL) and is being developed for the treatment of ulcerative Necrobiosis Lipoidica (uNL), a chronic, disfiguri ng condition affecting the skin and the tissue under the skin typically on the lower extremities. Ther e are currently no FDA approved treatments and drugs used off-label have side effects that limit their use . Natural healing is expected to occur in less than 5% of the patients. Since PCS499 and its metabolites effect several biological pathways associated with the pathophysiol ogy of uNL, PCS499 may provide a novel solution for the treatment of uNL. A small Phase 2A trial of PCS499 and other clinical data have demonstrated that treatment of more than one pathophysiological change in u NL through the biological targets of PCS499 and its metabolites may result in the closure and healing o f the ulcers associated with uNL. In the Phase 2B randomized, double-blind, placebo-controlled study Processa is evaluating the effica cy and safety of PCS499 compared to placebo for the treatment of ulcers in a small group of patients with u NL. Although Processa is presently expanding patient recruitment efforts for this study because COVID-19 has affected enrollment of this non-life threatening and rare condition, the study is still expected to provide critical information for the design of a single pivotal Phase 3 trial to be initiated in 2023. Next Generation Capecitabine - Treat Patients with Advanced Metastatic Colorectal Cancer Next Generation Capecitabine is the combination product of PCS6422 administered with currently FDA approved capecitabine, one of the most widely used chemotherapeutic agents. Clinical evidence to dat e shows that Next Generation Capecitabine is more potent and safer than currently FDA approved capecitabine because of the change in the metabolism of capecitabine caused by administration of PCS 6422. Previous studies in patients with breast cancer have shown that Next Generation Capecitabine can saf ely prolong progression free survival of cancer of patients who do not respond to currently approved capecitabine. The present clinical study is an open-label, multicenter study to determine a potentially efficaciou s and safe regimen of Next Generation Capecitabine in patients who have advanced, relapsed refractory GI cancer . The preliminary results from this ongoing study have shown that the Next Generation Capecitabine is more potent than current capecitabine. However, further evaluation is required to identify the PCS6422 an d capecitabine regimens that will provide a better efficacy and safety profile than current capecitabi ne. PCS12852 – Safe and Effective Treatment Option for Gastroparesis PCS12852 is a 5HT4 receptor agonist that has been shown to affect stomach emptying and GI motility i n humans. PCS12852 is being developed for the treatment of gastroparesis, a stomach motility disorder. Other approved and off-label treatments have serious side effects and/or can only be used on a limited bas is. Based on pre-clinical and clinical studies, PCS12852 is safer and more potent than all other on-label and off-label treatment options for gastroparesis. The present clinical study is focusing on the gastric emptying rate and symptom improvements in patients with gastroparesis. Investment Highlights • Key Members of the Processa Team has been involved with multiple enviable exits and FDA approvals over the last 20 years. • Each drug has a potential market of $1B within an unmet medical need condition. • Existing clinical evidence and applying the unique Regulatory Science approach for each drug decrease the “development risks” associated for each drug. • Regulatory opportunities to accelerate development and further limit “development risks” have been initiated • Important clinical milestones are anticipated in 2022 which will have a significant impact on Processa valuation.

3. Continue Reading for Management Background & Our Disclosure... Upcoming Catalysts: PCS499 • Complete enrollment of patients for both the interim analysis Next Generation Capecitabine (Combination of PCS6422 and Capecitabine; Formerly Identified as PCS6422 Program) • Expect to restart enrollment of Phase 1B trial 2Q’22 with the goal to define the Next Generation Capecitabine regimens of both PCS6422 and capecitabine by the end of 2022 • Modifying the Phase 1B trial to evaluate the timeline of DPD inhibition and de novo formation to determine more optimal PCS6422 and capecitabine regimens • Interact with FDA on modifications of Phase 1B trial PCS12852 • First Patient Enrolled in Phase 2A • Clinical Trial Underway • Top-line data expected in 2H "22 Upcoming Clinical Drug Milestones: Recent News: • Processa Pharmaceuticals Announces First Quarter 2022 Financial Results and Provides Corporate Update • Processa Pharmaceuticals Doses First Patient in Amended Phase 1B Protocol for PCS6422 Combined with Capecitabine (Next Generation Capecitabine) • Processa Pharmaceuticals Announces First Patient Enrolled in the PCS12852 Phase 2A Trial for the Treatment of Gastroparesis • Processa Pharmaceuticals Doses First Patient in Amended Phase 1B Protocol for PCS6422 Combined with Capecitabine (Next Generation Capecitabine) • Processa Pharmaceuticals Announces First Patient Enrolled in the PCS12852 Phase 2A Trial for the Treatment of Gastroparesis • Processa Pharmaceuticals Announces Year-End 2021 Results and Provides Corporate Update First Half of 2022: • Phase 1B Restart recruitment with improved dosing regimen of PCS6422 (Cancer) and obtain a preliminary analysis of DPD inhibition and de novo formation timeline • Phase 2B Interim analysis cohort enrolled for PCS499 • First Patient in (GI/gastroparesis) for PCS12852 • Complete initial development of bi omarker assays for PCS3117 Second Half of 2022: • Determine dosing regimens for Next Generation Capecitabine to potentially improve the efficacy and safety for treatment in patients with cancer (i.e., possible dosing regimens for both PCS6422 and capecitabine) • Interim Cohort analysis and complete enrollment for PCS499 • Complete enrollment and provide top-line data Q4’22 - Q1‘23 for PCS12852 • Define regulatory approval development paths for PCS3117 and PCS11T

1. AMP Quick Facts Processa Pharmaceuticals, Inc . (NasdaqCM: PCSA ) Acorn Management Partners, LLC July 2022 Nasdaq: PCSA Price: $ 3 . 15 Date: 0 7 / 0 6 /2 2 Fiscal Year: 12/31 MKT Cap: ~ $ 4 9 . 88 m C.O.H*: ~ $ 1 4 . 3 9 m Institutional Ownership: ~ 7 . 23 % Inside Ownership: ~ 29 . 84 % S/O*: ~ 15.84 m Float: ~ 9.82 m AVG Vol.: ~ 3 0 . 58 k For More Information Please Email: Robert Wheeler bwheeler@acornmanagement partners.com Industry: Healthcare " Bio-pharmaceutical Company " * As of most recent filing Continue Reading for More Information, Recent News, Management Background & Our Disclosure... Processa Pharmaceuticals Processa Pharmaceuticals i s a clinical stage biotech company led by experience d a nd successful drug development entrepreneurs. Processa develo ps it s drug s using a Regulatory Science approach initially created by Processa’ s founder s 30 year s ago when they were funded by the FDA to conduct regulatory science focused clinical program s that would become the foundation for multiple FDA Guidance documents. Over the years, the Processa Founder s have refined their Regulatory Science approach resulting in FDA approval s (i.e., NDA and sNDA) within almost every Ne w Drug Division of the FDA. Processa i s a drug development company, not a drug discovery company, a nd agnostic to therapeutic areas. Each of the drug s in the Processa pipeline: • Target patient s with an unmet medical need condition who need treatment option s to improve their survival and/or quality of life, • Have preliminary clinical evidence demonstrating that the pharmacological • target s of the drug provide some level of efficacy but are also safe in the patient population, Have a Regulatory Science pathway to approval that would make development more efficient with le ss development risk, and have potential addressable markets of $1B. The pipeline of drugs is grouped into rare disease and GI (PCS499 and PCS12852) and oncology (PCS3117, PCS6422 and PCS11T) Processa Pipeline – Five Drugs Each with $1B Market Opportunity​ "Our Regulatory Science approach that we have refined over the last 30 years provides the foundation for us to define, in collaboration with Regulators, the most efficient and likely approval path, to demonstrate a clinical benefit/risk profile acceptable to FDA for our drugs." -David Young, PharmD, PhD CEO, Processa Pharmaceuticals