Processa Pharmaceuticals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

Related Party Transactions	9 Months Ended
Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Note 11 – Related Party Transactions A shareholder, CorLyst, LLC, reimburses us for shared costs related to payroll, health care insurance and rent based on actual costs incurred, which are recognized as a reduction of our general and administrative operating expenses in our condensed consolidated statements of operations. No amounts were due from CorLyst at September 30, 2021 and December 31, 2020. At September 30, 2020, we had $700,000 outstanding under a convertible related party LOC. This LOC was converted into shares of our common stock on October 6, 2020.

Related Party Transactions

9 Months Ended

Sep. 30, 2021

Note 11 – Related Party Transactions

A shareholder, CorLyst, LLC, reimburses us for shared costs related to payroll, health care insurance and rent based on actual costs incurred, which are recognized as a reduction of our general and administrative operating expenses in our condensed consolidated statements of operations. No amounts were due from CorLyst at September 30, 2021 and December 31, 2020. At September 30, 2020, we had $700,000 outstanding under a convertible related party LOC. This LOC was converted into shares of our common stock on October 6, 2020.