Pasithea Therapeutics Corp Stock Price, News & Analysis

Pasithea Therapeutics Corp. (Nasdaq: KTTA; KTTAW) has successfully closed a private placement of 8.68 million shares and warrants, raising $30.4 million at $3.50 per share. The proceeds will fund pre-clinical research, develop U.S. and UK clinics, and support general corporate purposes. The warrants are exercisable immediately at the same price and will expire in five years. The Company is required to file a registration statement with the SEC within 15 days to cover the resale of these securities, which are not registered under the Securities Act of 1933.

Pasithea Therapeutics Corp. (Nasdaq: KTTA; KTTAW) has announced a private placement of 8.68 million shares and warrants at $3.50 each, aiming for gross proceeds of approximately $30.4 million. The offering is set to close by November 29, 2021, subject to customary conditions. The funds will be used for pre-clinical research and development, furthering clinic operations in the U.S. and UK, and for working capital. The company is also required to file a registration statement with the SEC within 15 days for the resale of securities, aiming for effectiveness within 90 days.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) announced its U.K. subsidiary, Pasithea Clinics, has been approved to offer esketamine nasal spray (SPRAVATO®) for treatment-resistant depression. This treatment is now available at their Knightsbridge location, making Pasithea one of only three accredited clinics in the U.K. to provide it. Treatment-resistant depression affects approximately 30% of patients with major depression, highlighting the urgent need for new options. The company emphasizes the importance of ongoing psychiatric support for patient safety while administering this drug.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has announced the launch of its wholly owned subsidiary, Pasithea Clinics, offering at-home ketamine infusion therapy for patients with treatment-resistant mental health disorders. The initial rollout will occur in New York City, Los Angeles, San Diego, and San Francisco, with plans for nationwide expansion. Treatments will be administered by board-certified medical professionals, ensuring patient safety. Ketamine is FDA-approved and has shown efficacy in conditions like treatment-resistant depression and PTSD, with up to 70% of patients responding clinically.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) announced a collaboration with musician DJ Carlita to create customized music playlists for patients undergoing intravenous ketamine infusion therapy. This initiative aims to enhance the therapeutic experience, building on research that supports the efficacy of music in psychedelic therapy. Pasithea has recently opened its first clinic in the UK and will offer in-home treatments in the US. Ketamine, an FDA-approved anesthetic, is being repurposed to treat conditions like treatment-resistant depression and PTSD with rapid and sustained effects.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has formed a new Scientific Advisory Board (SAB) to guide its efforts in developing treatments for mental health and brain disorders. The SAB will be chaired by esteemed psychiatrist Charles Nemeroff, M.D., Ph.D., who brings extensive expertise in psychiatry and neuropsychopharmacology. This move aims to enhance Pasithea’s credibility and advance its research on novel treatments targeting psychiatric and neurological conditions. The company is committed to addressing the growing mental health crisis through innovative drug development.

Pasithea Clinics has launched IV ketamine infusion therapy in Knightsbridge, London, targeting mental health disorders. This initiative is part of Pasithea Therapeutics Corp.'s broader mission to find effective treatments for psychiatric conditions. The therapy is particularly aimed at treatment-resistant depression and PTSD, with studies indicating a clinical response rate of up to 70%. Partnering with ZEN Healthcare in the U.K. and The IV Doc in the U.S., Pasithea is expanding access to these treatments, addressing the growing mental health crisis.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) announced a partnership with ZEN Healthcare to launch ketamine infusion therapy in Central London for patients with treatment-resistant mental health disorders. This initiative aims to address the growing need for innovative treatments amid rising mental health cases exacerbated by the pandemic. The therapy promises rapid efficacy in conditions like treatment-resistant depression and PTSD. Pasithea recently raised $24 million during its IPO, enhancing its capacity to expand treatment networks in the U.K. and the U.S.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) announced a collaboration with Evotec, a leading drug development company, to advance its initial drug candidate targeting psychiatric disorders. This partnership marks the start of a new chemical entity development program focused on neuroinflammatory pathways linked to depression and schizophrenia. The collaboration aims to leverage Evotec's expertise to expedite the drug's progression toward clinical trials. The company's strategic focus is on developing innovative treatments for psychiatric conditions and establishing psychiatric clinics in the UK and US.