Pasithea Therapeutics Announces Pricing of $60 Million Public Offering of Common Stock

Core Viewpoint - Pasithea Therapeutics Corp. has announced a public offering of 80 million shares at $0.75 per share, aiming to raise approximately $60 million to support its ongoing research and development efforts [1][3]. Group 1: Offering Details - The public offering consists of 80,000,000 shares of common stock or pre-funded warrants at an offering price of $0.75 per share [1]. - The offering is led by healthcare-focused investors, including Vivo Capital, Janus Henderson Investors, and others [1][8]. - H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering [2]. Group 2: Financial Implications - The gross proceeds from the offering are expected to be around $60 million before deducting fees and expenses [3]. - The net proceeds will be used for general corporate purposes, including ongoing research, clinical trials, and potential acquisitions [3]. - Following the offering, the company's cash runway is projected to extend through at least the first half of 2028 [3][8]. Group 3: Company Overview - Pasithea is a clinical-stage biotechnology company focused on developing PAS-004, a macrocyclic MEK inhibitor for treating neurofibromatosis type 1-associated plexiform neurofibromas [6]. - The company is currently conducting a Phase 1 clinical trial for PAS-004 in advanced cancer patients and a Phase 1/1b trial in adult patients with NF1-associated plexiform neurofibromas [6].