Pasithea Therapeutics Corp Stock Price, News & Analysis

Pasithea Therapeutics Corp. (Nasdaq: KTTA) is expanding its presence in London with three new clinics focused on mental health treatments. Each clinic is projected to generate approximately USD$5 million annually in revenue. The clinics will offer services such as pharmacy, ketamine therapy, and repeated transcranial magnetic stimulation (rTMS), enhancing the range of psychiatric treatments available. The initiative is backed by a partnership with ZEN Healthcare and aims to bridge the treatment gap for mental health disorders, leveraging a strong cash position for growth.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has appointed Dr. Daniel Weinberger to its Scientific Advisory Board. Dr. Weinberger, a prominent figure in neurobiological research, has significantly advanced the understanding of mental illness through his extensive work on schizophrenia. As CEO of the Lieber Institute for Brain Development and a professor at Johns Hopkins, his expertise will guide Pasithea's mission in developing innovative treatments for psychiatric and neurological disorders. This addition is expected to enhance the company's research capabilities.

Pasithea Therapeutics has initiated a new program to develop a tolerizing vaccine for multiple sclerosis (MS), partnering with Hooke Laboratories. This vaccine aims to address the autoimmune aspects of MS, affecting approximately 2.8 million people globally. The program will be guided by renowned MS expert Prof. Lawrence Steinman, who helped create the approved MS drug Tysabri. With $52 million in cash reserves, Pasithea's strategic focus on MS marks a significant step in its mission to treat neurological disorders.

Pasithea Therapeutics Corp. (NASDAQ: KTTA) has opened its second London clinic in Marylebone, expanding access to IV ketamine therapy for patients with treatment-resistant mental health disorders. The first clinic was established in Knightsbridge in October 2021. With over two decades of research backing ketamine's efficacy, the company aims to address the growing needs for effective treatments. Studies indicate up to 70% of patients undergoing IV ketamine treatment may respond positively, marking a significant step in the treatment of serious psychiatric conditions.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has expanded its in-home IV ketamine infusion therapy services to Florida and Nevada. This expansion follows the launch of mobile clinics in New York and California, addressing the mental health crisis amplified by the pandemic, which has seen treatment-resistant depression diagnoses rise by 25%. With mobile clinics offering privacy and convenience, Pasithea aims to improve access to therapy for patients who may struggle with traditional clinic visits. The company plans to extend services to additional cities in these states shortly.

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.