Processa Pharmaceuticals names four new executives, including COO Flesher

Processa Pharmaceuticals, Inc. (Nasdaq: PCSA) announced key leadership appointments on November 4, 2026, naming Gregory J. Flesher as Chief Operating Officer, Craig Coburn, Ph.D., as Executive Vice President and Head of Research, Ashley Hall, J.D., as Executive Vice President of Development, and Michael P. Cruse as Executive Vice President of Business Operations.¹

Per the 8-K filing, the Board approved Flesher's appointment as Chief Operating Officer on November 2, 2026, effective November 4, 2026.¹ Flesher's employment letter provides for an annual base salary of $700,000 and a discretionary target bonus of up to 60% of base salary beginning in fiscal year 2027.¹ The Board intends to grant Flesher an option to purchase shares equal to 3.0% of the company's fully-diluted outstanding capital stock, at an exercise price equal to fair market value on the grant date.¹ That grant is contingent on stockholder approval of the company's 2027 Equity Incentive Plan at a planned special meeting.¹ The option would vest 25% after one year, with the remainder vesting monthly over the following 36 months.¹

Flesher previously led several biopharmaceutical companies. He served as CEO of Ambros Therapeutics from October 2024 to December 2025, and before that as President and CEO of Reneo Pharmaceuticals (now Onkure Therapeutics) from November 2020 to October 2024, and as CEO of Novus Therapeutics (now Eledon Pharmaceuticals) from May 2017 to November 2020.¹

The appointments follow corporate changes earlier in the year. They follow Processa's July 2026 acquisition of Vidya Therapeutics in a sign-and-close reverse merger alongside a concurrent private placement financing of approximately $200 million, which the company said established the foundation for its current clinical and pipeline strategy.¹ Processa is advancing VT-7208, described as a next-generation, CNS-penetrant, once-daily oral Bruton's tyrosine kinase inhibitor, across planned Phase 2 proof-of-concept programs in food allergy, chronic spontaneous urticaria and relapsing multiple sclerosis.¹ The company also recently announced FDA clearance of the IND application for the planned Phase 2 study of VT-7208 in chronic spontaneous urticaria, and a research collaboration and exclusive option agreement with Generian Pharmaceuticals for a preclinical oral FcRn antagonist program.¹

Separately, in connection with her prior appointment as executive chair, Dr. Sheila Gujrathi became entitled to an annual base compensation of $300,000, a discretionary target bonus of 60% of base salary, and an option grant equal to 1.5% of the company's fully-diluted outstanding capital stock.¹