Pasithea Therapeutics (KTTA) Registration filing summary

Company overview and business model

• Clinical-stage biotechnology company focused on treatments for CNS disorders, RASopathies, MAPK pathway-driven tumors, and other diseases.

• Lead product candidate PAS-004 is a next-generation MEK inhibitor targeting MAPK pathway-driven advanced tumors and neurofibromatosis type 1 (NF1) with plexiform neurofibromas.

• Phase 1 trials for PAS-004 are ongoing in the US, Eastern Europe, Australia, and South Korea, with completion expected in 2026.

• Additional discovery-stage programs target amyotrophic lateral sclerosis (PAS-003) and schizophrenia (PAS-001).

Financial performance and metrics

• Net losses of $13.9 million (2024) and $16.0 million (2023); $3.0 million and $10.3 million for the three and nine months ended September 30, 2025.

• Accumulated deficit of $59.9 million as of September 30, 2025.

• Cash and cash equivalents of $4.1 million as of September 30, 2025.

• Recent $5.0 million public offering in May 2025, with additional $1.3 million from warrant exercises.

Use of proceeds and capital allocation

• Estimated net proceeds of $54.9 million (assuming full offering at $0.80/share), to be used for general corporate purposes, research, clinical trials, technology development, licensing, acquisitions, and working capital.

• Management has broad discretion over use of proceeds; no specific acquisitions currently planned.