Processa Pharmaceuticals, Inc. 8-K

What Happened Processa Pharmaceuticals, Inc. announced in an 8‑K filed February 19, 2026 that the Binding Term Sheet dated June 17, 2025 with Intact Therapeutics regarding the drug candidate PCS12852 expired on February 12, 2026. No definitive license agreement was executed and the proposed amendment to the existing License Agreement with Yuhan Corporation was not entered. The filing states that neither party has any additional obligations under the Term Sheet following its expiration.

Key Details

• Term Sheet date: June 17, 2025.
• Expiration date: February 12, 2026.
• Subject: potential licensing arrangement for PCS12852 with Intact Therapeutics; related amendment with Yuhan Corporation was not executed.
• Post-expiration: neither Processa nor Intact has further obligations under the Term Sheet.

Why It Matters This filing confirms that a potential licensing pathway for PCS12852 under the June 2025 term sheet will not proceed as negotiated, and removes any continuing contractual obligations tied to that Term Sheet. For investors, this affects expectations about near‑term partnership-driven development or commercialization of PCS12852; shareholders should watch for any new licensing, partnership announcements, or updated development plans from Processa.