Pasithea Therapeutics Corp Stock Price, News & Analysis

Pasithea Therapeutics Corp. (Nasdaq: KTTA) announced the results of its Special Meeting of Stockholders held on December 9, 2022. Approximately 67% of stockholders voted against proposals to remove the current Board of Directors, representing about 12.7 million shares or 44% of total shares. This decision allows the current Board to continue overseeing the company's strategy. CEO Dr. Tiago Reis Marques expressed gratitude for stockholder support and commitment to developing innovative treatments for CNS disorders, including ALS and Multiple Sclerosis.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has reached a Settlement and Cooperation Agreement with the Camac Group, resolving all litigation issues. The Camac Group will observe a three-year standstill and has agreed to sell 3,205,282 shares of common stock at $1.0003 each, reflecting the five-day average price. Pasithea will also reimburse certain expenses. CEO Tiago Reis Marques expressed optimism about this agreement, stating it allows the company to focus on advancing its CNS therapies. The Board of Directors will continue overseeing the company's strategy following a recent Special Meeting.

Pasithea Therapeutics (NASDAQ: KTTA) has announced its preclinical data for PAS-003, a monoclonal antibody targeting Alpha 5 Beta 1 integrin as a potential treatment for amyotrophic lateral sclerosis (ALS) and related CNS disorders. The presentation will occur on December 7th at the Antibody Engineering & Therapeutics Conference in San Diego, by Dr. Lawrence Steinman, Chairman of Pasithea. PAS-003 has demonstrated significant improvements in SOD1 mouse models, indicating its promise in improving clinical outcomes for ALS patients.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has postponed its Special Stockholder Meeting from November 29, 2022, to December 9, 2022, at 9:00 am ET. This decision allows more time for stockholder voting proxies. The meeting will still address the proposals submitted by a Dissident Group, which includes several investment firms and individuals. The record date remains November 9, 2022. Pasithea is focused on innovative treatments for CNS disorders, including ALS and Multiple Sclerosis, leveraging its expertise in neuroscience.

Pasithea Therapeutics Corp. (NASDAQ: KTTA) announced that its Chairman, Prof. Lawrence Steinman, will present results from a preclinical study on their tolerizing vaccine PAS002 for multiple sclerosis at the Immunotherapy 2022 Symposium in Buenos Aires from Oct. 14-17, 2022. Prof. Steinman and Nobel laureate Dr. James Allison will receive honorary doctorates from the University of Buenos Aires. CEO Dr. Tiago Reis Marques expressed excitement about sharing their findings and their commitment to developing effective neurological treatments.

Pasithea Therapeutics has acquired AlloMek Therapeutics for $1.05 million in cash, 2.7 million shares, and warrants for an additional 1 million shares. The acquisition aims to enhance Pasithea's CNS product portfolio with CIP-137401, a next-generation MEK inhibitor designed for treating neurofibromatosis type 1 (NF1) and Noonan syndrome. The FDA has granted orphan-drug designation for CIP-137401. An IND application is expected to be filed in the second half of 2023, followed by Phase 1 trials. The acquisition supports long-term growth and potential synergies with existing programs.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has announced that the Camac Group has met the criteria to call a Special Meeting of Stockholders as of September 28, 2022. The company clarifies that previous notifications from the group were invalid. No action is required from stockholders at this time. In its first year, Pasithea has made significant progress in drug development for CNS disorders, achieving positive preclinical results and expanding its scientific team. Further details about the Special Meeting will be provided soon.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has appointed Alfred J. Novak to its Board of Directors, replacing Dr. Yassine Bendiabdallah, who stepped down on September 14, 2022. Mr. Novak brings over 30 years of experience in life sciences, with a history of significant financial transactions and successful exits, including Dova Pharmaceuticals and Biosense. Chairman Lawrence Steinman expressed enthusiasm for Mr. Novak's contributions toward advancing Pasithea's drug candidates. The company specializes in developing treatments for CNS disorders and providing ketamine infusion services.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has appointed Dr. Merit Cudkowicz to its Scientific Advisory Board, bringing extensive expertise in ALS and neurological diseases. Dr. Cudkowicz, Chief of Neurology at Massachusetts General Hospital, has significantly advanced ALS research and clinical trials. Her collaboration is expected to enhance Pasithea's development of its monoclonal antibody targeting alpha-5/beta-1 integrin, which shows promising preclinical efficacy. Dr. Cudkowicz’s insights are poised to drive innovation in treatment approaches for ALS.