Pasithea Therapeutics Prices $60 Mln Public Offering To Advance MEK Inhibitor, Stock Up

(RTTNews) - Pasithea Therapeutics Corp. (KTTA) announced on Friday that it has set a price for a public offering of 80 million shares at $0.75 each, which should bring in around $60 million to help fund the development of their main product, PAS-004.

This offering is being backed by a group of investors focused on healthcare and is expected to wrap up by December 1, 2025. Pasithea intends to use the funds for research, clinical trials, and other corporate needs, which will help them keep operating until at least mid-2028.

PAS-004 is a new kind of oral MEK inhibitor and is now in Phase 1 studies for advanced cancers and plexiform neurofibromas linked to NF1.

KTTA is currently trading at $1.4650, up $0.40 or 38.27 percent on the Nasdaq.