Pasithea Therapeutics (KTTA) Registration filing summary

Company overview and business model

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

• Lead candidate PAS-004 is a next-generation MEK inhibitor targeting MAPK pathway-driven advanced tumors and NF1-related 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 in 2024 and $3.0 million for the three 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 public and private offerings raised approximately $5.0 million and $4.5 million, respectively, in 2024 and 2025.

Use of proceeds and capital allocation

• Estimated net proceeds of $8.9 million from the offering, assuming full sale at $0.7179 per share and no exercise of warrants.

• Proceeds intended for general corporate purposes, including R&D, clinical trials, technology development, licensing, acquisitions, and working capital.

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