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

Core Viewpoint - Pasithea Therapeutics Corp. has successfully closed a public offering of 80 million shares at $0.75 per share, raising approximately $60 million in gross proceeds, which will be used for general corporate purposes and to extend its cash runway through at least the first half of 2028 [1][3][8]. Group 1: Offering Details - The public offering consisted of 80,000,000 shares of common stock or pre-funded warrants at an offering price of $0.75 per share [1]. - The offering was led by healthcare-focused investors, including Vivo Capital, Janus Henderson Investors, Coastlands Capital, Columbia Threadneedle Investments, Adage Capital Partners, and Squadron Capital Management [1][8]. - H.C. Wainwright & Co. acted as the exclusive placement agent for the offering [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for general corporate purposes, including ongoing research, pre-clinical studies, clinical trials, and the development of new technologies [3]. - The company plans to invest in or acquire synergistic companies and engage in licensing activities related to its current and future product candidates [3]. Group 3: Company Overview - Pasithea Therapeutics is a clinical-stage biotechnology company focused on developing PAS-004, a next-generation 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 clinical trial in adult patients with NF1-associated plexiform neurofibromas [6].