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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K [ X ] Annual Report under Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 For the fiscal year ended December 31 , 2020 or [ ] Transitional Report under Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 Delaware ( State or other jurisdiction of incorporation or organization ) Commission File Number 001-39531 Processa Pharmaceuticals , Inc. ( Exact name of registrant as specified in its charter ) 7380 Coca Cola Drive , Suite 106 , Hanover , Maryland 21076 ( 443 ) 776-3133 45-1539785 ( IRS Employer Identification No. ) Securities registered pursuant to Section 12 ( b ) of the Exchange Act : Title of Each Class Common Stock , $ 0.0001 par value per share Trading Symbol ( s ) PCSA Name of each exchange on which registered The Nasdaq Stock Market LLC Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes [ ] No [ X ] Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Yes [ ] No [ X ] Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes [ X ] No [ ] Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes [ X ] No [ ] Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or emerging growth company . See definition of " large accelerated filer , " " accelerated filer , " " smaller reporting company , " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . Large accelerated filer Non - accelerated filer [ ] [ ] Accelerated filer Smaller reporting company Emerging growth company [ ] [ X ] [ ] 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 . ( ) Indicate by check mark whether the registrant has filed a report on and attestation to its managements ' assessment of the effectiveness of its internal controls over financial reporting under Section 404 ( b ) of the Sarbanes Oxley Act ( 15 U.S.C 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report ( ) Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) . Yes [ ] No [ X ] The aggregate market value of the voting and non - voting common equity held by non - affiliates on June 30 , 2020 , the last business day of the most recently completed second quarter , based upon the closing price of Common Stock on such date as reported on OTCQB , was approximately $ 22 million . The number of outstanding shares of the registrant's common stock as of March 19 , 2021 was 15,521,616 . DOCUMENTS INCORPORATED BY REFERENCE Portions of the Proxy Statement for the registrant's 2021 Annual Meeting of Stockholders ( the " Proxy Statement " ) to be filed within 120 days of the end of the fiscal year ended December 31 , 2020 are incorporated by reference into Part III hereof . Except with respect to information specifically incorporated by reference in this Form 10 - K , the Proxy Statement is not deemed to be filed as a part hereof .