• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Pasithea Therapeutics Acquires AlloMek Therapeutics

    10/12/22 8:00:00 AM ET
    $KTTA
    Biotechnology: Pharmaceutical Preparations
    Health Care
    Get the next $KTTA alert in real time by email

    -- Expands CNS Product Portfolio with Addition of CIP-137401, a Macrocyclic, Next-Generation MEK Inhibitor

    -- Plans to File IND Application with the FDA to Enter the Clinic in 2H 2023

    -- Plans to Initiate a Phase 1 Clinical Trial in the U.S. for Neurofibromatosis Type 1 (NF1)

    -- Management to Host an Investor Webcast Today at 9 a.m. ET

    MIAMI BEACH, Fla., Oct. 12, 2022 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (NASDAQ:KTTA) ("Pasithea" or the "Company"), a biotechnology company focused on the discovery, research and development of innovative treatments for central nervous system (CNS) disorders, today announced that it acquired AlloMek Therapeutics, LLC ("AlloMek"), a privately-held biotechnology company. AlloMek's lead therapeutic candidate, CIP-137401, is a potential best-in-class macrocyclic mitogen-activated protein kinase kinase 1/2 (MEK) inhibitor for use in a range of CNS-related indications, including neurofibromatosis type 1 (NF1) and Noonan syndrome, as well as potential synergy with our existing multiple sclerosis (MS) development program. The closing of the acquisition occurred on October 11, 2022.

    CIP-137401 is a small molecule allosteric inhibitor of MEK 1/2, a key kinase in the Ras-Raf-MEK-ERK signaling pathway. Existing MEK inhibitors are marketed for a range of diseases, providing evidence for the value of regulating MEK as a drug target, however, they suffer from limitations. Unlike other MEK inhibitors, CIP-137401 is macrocyclic, which displays improved drug-like properties, such as an optimal pharmacokinetic (PK), safety (tolerability) and potency profile, offering potential benefits over other MEK inhibitors. CIP-137401 was designed to limit toxicities and overcome poor pharmacokinetic profiles such as short half-lives and the formation of major metabolites, which result in the limited exposure and stability of known MEK inhibitors.

    "The acquisition of AlloMek represents the successful continuation of our business development strategy. Expanding our CNS-focused drug development pipeline with near-term clinical opportunities addressing rare RASopathies positions us for long-term growth opportunities and potential synergies with our existing tolerizing program, which we believe will yield the greatest results for patients, the healthcare community and stockholders," stated Dr. Tiago Reis Marques, Chief Executive Officer of Pasithea. "CIP-137401 was designed to impart optimum drug-like properties potentially allowing for higher exposure, improved efficacy and less frequent dosing which can drive better outcomes as well as improved patient compliance to address issues with existing MEK inhibitors. In addition, we would like to welcome the venture capital firm Connecticut Innovation Fund (CI) to our stockholder registry as a long term focused institutional shareholder who has supported the development of CIP-137401."

    CIP-137401 has displayed efficacy in a range of mouse models of various diseases and has completed pre-clinical testing and animal toxicology studies to support an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA). CIP-137401 has already received orphan-drug designation from the FDA for NF1. The Company plans to initially focus clinical development of CIP-137401 on NF1 followed by Noonan syndrome, both rare diseases with significant unmet clinical needs.

    Dr. Marques added, "We look forward to bringing CIP-137401 into the clinic rapidly. We currently anticipate filing an IND in the second half of 2023 following good manufacturing practice (GMP) manufacturing of CIP-137401, which is needed for the IND-submission, and initiation of human clinical trials. Our clinical strategy is to pursue the development of CIP-137401 in NF1 followed by Noonan syndrome, which may offer the potential for a rare pediatric disease priority review voucher (PRV) from the FDA."

    Dr. Uday Khire, Chief Executive Officer of AlloMek, noted, "We are excited to work with the esteemed team at Pasithea to get CIP-137401 into patients. We strongly believe in our lead molecule, CIP-137401, which has shown a unique combination of potency, tolerability and PK profile in preclinical settings and could prove to be a sweet spot among MEK inhibitors."

    "We have worked with the drug candidate in our laboratory in a mouse model of a rare inherited heart disease with increased cardiac ERK activity," added Howard J. Worman, M.D., Professor of Medicine and Pathology and Cell Biology at Columbia University and Chair of AlloMek's Scientific Advisory Board. "In our model, CIP-137401 was very effective in controlling cardiac fibrosis, extremely potent in reducing tissue ERK activity in vivo and well-tolerated by the animals."

    Lawrence Steinman MD, Professor of Neurology and Neurological Sciences at Stanford University and Chairman of the board of directors at Pasithea, concluded, "AlloMek's programs are potentially transformative for unmet needs in neurologic diseases, including NF1 and Noonan syndrome and may synergize with Pasithea's program in MS. Pasithea has experimental data on tolerizing the immune system to unwanted responses to a molecule called GlialCAM, which is similar (molecular mimicry) to Epstein-Barr virus and to members of the Poxvirus family. Published research in Nature showed that kinases are critical for facilitating pathological cross-reaction by adding phosphate residues (phosphorylation) to key amino acids. CIP-137401 has the potential to block phosphorylation of the molecular mimic, and by doing so, help to ameliorate the pathology that triggers MS."  

    Transaction Overview:

    Pasithea acquired all of the issued and outstanding equity interests in AlloMek in exchange for a $1.05 million upfront cash payment and the issuance of 2,700,000 shares of restricted common stock plus 5-year warrants to acquire 1,000,000 shares of common stock at an exercise price of $1.88 per share. Pasithea is also obligated to make certain clinical and regulatory event-driven milestone payments, as well as low-to-mid single digit escalating royalties on net sales. 

    For a more detailed description of the terms of the AlloMek acquisition and the related definitive agreement, please see the Company's Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.

    Conference Call Information:

    Pasithea will host a conference call and live audio webcast today, October 12, 2022, at 9 a.m. ET, to discuss the acquisition of AlloMek and provide a strategic outlook for the Company. Interested participants and investors may access the conference call by using the following URL.

    • https://event.choruscall.com/mediaframe/webcast.html?webcastid=lJsMuWAK

    An audio webcast of the conference call will be accessible via the Investors section of our website, www.pasithea.com. An archive of the webcast will remain available for 90 days following this event.

    About CIP-137401

    CIP-137401 is a small molecule allosteric inhibitor of MEK 1/2 in the Ras-Raf-MEK-ERK signaling pathway, which plays critical roles in the regulation of diverse cellular activities, including cell proliferation, survival, differentiation, and motility. Existing MEK inhibitors are marketed and being tested for a range of diseases providing evidence for the value of regulating MEK as a drug target, however they suffer from limitations. Unlike other MEK inhibitors, CIP-137401 is macrocyclic, which displays improved drug-like properties, such as an optimal pharmacokinetic, safety (tolerability) and potency profile, offering potential benefits over other MEK inhibitors. Macrocycles are large cyclic molecules that can bring increased potency, metabolic stability, and oral bioavailability. Cyclization offers rigidity for stronger binding with drug target receptors. CIP-137401 was developed to limit metabolic liabilities and overcome the limited exposure and stability of known MEK inhibitors. CIP-137401 has displayed efficacy in a range of animal models and has completed pre-clinical testing and animal toxicology studies to support an IND application with the FDA. CIP-137401has received orphan-drug designation from the FDA for NF1.

    About Neurofibromatosis type 1

    NF1 is part of a group of conditions known as neurocutaneous disorders that affect the skin and the nervous system. NF1 causes tumor growth along nerves in the skin, brain, near the spinal cord and other parts of the body. These tumors are usually benign (non-cancerous), however they cause a range of symptoms with varying severity among affected people. People with NF1 typically have problems with their bones, eyes and nervous system, as well as other complications, including high blood pressure, learning disabilities, attention deficit hyperactivity disorder (ADHD), seizures and speech problems. Further, some people with NF1 develop cancerous tumors that grow along nerves and are at a higher risk of developing other forms of cancer. NF1 accounts for approximately 90% of all neurofibromatosis cases and occurs in about 1 in 3,000 births. There is no known cure for NF1 and treatment options vary. Selumetinib (KoselugoTM), a MEK inhibitor marketed by Alexion Pharmaceuticals, Inc., an AstraZeneca group of companies, is the only FDA-approved prescription medicine used to treat children 2 years of age and older with NF1 who have plexiform neurofibromas that cannot be completely removed by surgery.

    About Noonan syndrome

    Noonan syndrome, a genetic disorder, is part of a group of related conditions, collectively known as RASopathies that are associated with genes involved in the Ras-Raf-MEK-ERK cell signaling pathway. Noonan syndrome prevents normal development in various parts of the body and can affect a person in a wide variety of ways, including unusual facial characteristics, short stature, heart defects, growth and muscular skeletal issues, learning disabilities and possible developmental delays. Noonan syndrome occurs in approximately 1 in 1,000 to 2,500 people, and approximately 60% of cases involve gene mutations in the Ras-Raf-MEK-ERK signaling pathway. There is no known cure for Noonan syndrome and treatment options vary, including surgery and growth hormones.

    About Pasithea Therapeutics Corp.

    Pasithea Therapeutics is a biotechnology company primarily focused on the discovery, research and development of innovative treatments for central nervous system (CNS) disorders. With an experienced team of experts in the fields of neuroscience and psychopharmacology, Pasithea is developing new molecular entities for the treatment of psychiatric and neurological disorders, including Amyotrophic Lateral Sclerosis (ALS) and Multiple Sclerosis, Neurofibromatosis type 1 and Noonan syndrome.

    Forward Looking Statements

    This press release contains statements that constitute "forward-looking statements." Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Company's filings with the SEC. Thus, actual results could be materially different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.

    Pasithea Therapeutics Corp. Company Contact

    Dr. Tiago Reis Marques

    Chief Executive Officer

    Email: [email protected]

    Pasithea Therapeutics Corp. Investor Relations

    In-Site Communications, Inc.

    Lisa M. Wilson

    Email: [email protected]

    Tel: 212-452-2793

    Pasithea Therapeutics Corp. Media Contacts

    KCSA Strategic Communications

    Raquel Cona / Shana Marino

    Email: [email protected]



    Primary Logo

    Get the next $KTTA alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $KTTA

    DatePrice TargetRatingAnalyst
    12/14/2021$3.25Buy
    EF Hutton
    More analyst ratings

    $KTTA
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Pasithea Therapeutics Announces Preclinical Data that Shows PAS-004 Inhibits ETS2 Signaling, a Key Driver of Inflammation in IBD and Other Large Addressable Market Diseases

      -- Demonstrates PAS-004's potential as a differentiated MEK inhibitor for immune-mediated inflammatory diseases such as IBD and ankylosing spondylitis – -- Positions PAS-004 for potential expansion beyond MAPK pathway driven tumors into inflammatory diseases – -- PAS-004 outperforms FDA-approved MEK inhibitor selumetinib in targeting ETS2 pathway – -- Study conducted at Francis Crick Institute by lead author of 2024 Nature paper that identified ETS2 as a central regulator of macrophage-driven Inflammation in IBD -- MIAMI, May 20, 2025 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (NASDAQ:KTTA) ("Pasithea" or the "Company"), a clinical-stage biotechnology company developing PAS-004, a

      5/20/25 7:01:00 AM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Pasithea Therapeutics Announces Initiation of Phase 1/1B Study of PAS-004 in Adult NF1 Patients and Activation of First Clinical Trial Site

      -- First patient expected to be dosed during Q2 2025 ---- Trial will evaluate safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary efficacy in both plexiform neurofibromas and cutaneous neurofibromas ---- Starting dose of 4mg tablet QD (once daily) ---- First trial site in Australia. Four additional sites planned for Australia, South Korea, and U.S. –-- Australian R&D Tax Incentive refund of up to 48.5% of eligible study-related costs expected -- MIAMI, May 14, 2025 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (NASDAQ:KTTA) ("Pasithea" or the "Company"), a clinical-stage biotechnology company developing PAS-004, a next-generation macrocyclic MEK inhibitor today ann

      5/14/25 7:02:00 AM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Pasithea Therapeutics Announces Closing of $5 Million Public Offering

      MIAMI, May 07, 2025 (GLOBE NEWSWIRE) -- Pasithea Therapeutics, Corp. ("Pasithea," or the "Company") (NASDAQ:KTTA, KTTAW)), a clinical-stage biotechnology company developing PAS-004, a next-generation macrocyclic MEK inhibitor, for the treatment of neurofibromatosis type 1 (NF1) and other cancer indications, today announced the closing of its previously announced public offering of 3,571,428 shares of its common stock (or pre-funded warrants in lieu thereof) and accompanying Series C warrants to purchase up to 3,571,428 shares of common stock and Series D warrants to purchase up to 3,571,428 shares of common stock, at a combined offering price of $1.40 per share of common stock (or per pre-

      5/7/25 5:00:00 PM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $KTTA
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • EF Hutton initiated coverage on Pasithea Therapeutics with a new price target

      EF Hutton initiated coverage of Pasithea Therapeutics with a rating of Buy and set a new price target of $3.25

      12/14/21 8:32:07 AM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $KTTA
    Financials

    Live finance-specific insights

    See more
    • Pasithea Therapeutics Acquires AlloMek Therapeutics

      -- Expands CNS Product Portfolio with Addition of CIP-137401, a Macrocyclic, Next-Generation MEK Inhibitor -- Plans to File IND Application with the FDA to Enter the Clinic in 2H 2023 -- Plans to Initiate a Phase 1 Clinical Trial in the U.S. for Neurofibromatosis Type 1 (NF1) -- Management to Host an Investor Webcast Today at 9 a.m. ET MIAMI BEACH, Fla., Oct. 12, 2022 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (NASDAQ:KTTA) ("Pasithea" or the "Company"), a biotechnology company focused on the discovery, research and development of innovative treatments for central nervous system (CNS) disorders, today announced that it acquired AlloMek Therapeutics, LLC ("AlloMek"), a privately-he

      10/12/22 8:00:00 AM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Pasithea Therapeutics Acquires Alpha-5 Integrin, LLC

      - Alpha-5 is a potentially first-in-class monoclonal antibody for the treatment of amyotrophic lateral sclerosis (ALS) and other neurological diseases -- Expands pipeline across Pasithea's core therapeutic areas to drive enhanced growth -- Closing consideration of 3.26 million shares of Pasithea common stock -- Pasithea to hold a webcast on June 22 at 9 a.m. ET to discuss the transaction - MIAMI BEACH, Fla., June 22, 2022 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (NASDAQ:KTTA) ("Pasithea" or the "Company"), today announced its acquisition of Alpha-5 integrin, LLC ("Alpha-5"), a privately-held preclinical-stage company developing a monoclonal antibody (mAbs) for the treatment of am

      6/22/22 8:00:00 AM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $KTTA
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Chief Executive Officer Marques Tiago sold $792 worth of shares (960 units at $0.82), decreasing direct ownership by 2% to 40,001 units (SEC Form 4)

      4 - Pasithea Therapeutics Corp. (0001841330) (Issuer)

      5/14/25 9:55:17 PM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Director Novak Alfred J was granted 3,500 shares (SEC Form 4)

      4 - Pasithea Therapeutics Corp. (0001841330) (Issuer)

      6/14/24 5:25:21 PM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form 4 filed by Marques Tiago (Amendment)

      4/A - Pasithea Therapeutics Corp. (0001841330) (Issuer)

      4/5/24 9:45:31 PM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $KTTA
    SEC Filings

    See more
    • SEC Form 10-Q filed by Pasithea Therapeutics Corp.

      10-Q - Pasithea Therapeutics Corp. (0001841330) (Filer)

      5/15/25 4:31:35 PM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Amendment: SEC Form SCHEDULE 13G/A filed by Pasithea Therapeutics Corp.

      SCHEDULE 13G/A - Pasithea Therapeutics Corp. (0001841330) (Subject)

      5/15/25 3:36:45 PM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form SCHEDULE 13G filed by Pasithea Therapeutics Corp.

      SCHEDULE 13G - Pasithea Therapeutics Corp. (0001841330) (Subject)

      5/12/25 4:08:40 PM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $KTTA
    Leadership Updates

    Live Leadership Updates

    See more

    $KTTA
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Pasithea Therapeutics Announces Appointment of Dr. Rebecca Brown to its Scientific Advisory Board

      MIAMI, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (NASDAQ:KTTA) ("Pasithea" or the "Company"), a clinical-stage biotechnology company developing PAS-004, a next-generation macrocyclic MEK inhibitor, for the treatment of neurofibromatosis type 1 (NF1) and other indications, announced today that Rebecca Brown, M.D., Ph.D. has been appointed as a member of the Company's Scientific Advisory Board. Dr. Brown is currently Director of the Neurofibromatosis Clinic at The Mount Sinai Hospital and Assistant Professor in the Department of Neurology (Division of Neuro-Oncology), Internal Medicine, and Neurosurgery at the institution. Dr. Brown will contribute scientific insights

      9/3/24 8:02:00 AM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Pasithea Therapeutics Announces Results from 2023 Annual Meeting

      SOUTH SAN FRANCISCO, Calif. and MIAMI, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. ("Pasithea" or the "Company") (NASDAQ:KTTA), today announced that it held its annual meeting of stockholders (the "Annual Meeting") on December 19, 2023. Over 70% of the Company's shares of common stock were represented at the Annual Meeting. More than 95% of shares voted were cast "for" the election of directors (Proposal 1), and over 85% "for" Proposals 2, 3 and 6 (collectively, the "Approved Proposals"). The Approved Proposals related to the following matters: appointment of the Company's proposed slate of directors;-  Dr. Tiago Reis Marques;-  Prof. Larry Steinman;-  Simon Dume

      12/19/23 5:19:00 PM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Pasithea Therapeutics Appoints Life Sciences and Health Care Executive Alfred J. Novak to its Board of Directors

      MIAMI BEACH, Fla., Sept. 20, 2022 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (NASDAQ:KTTA) ("Pasithea" or the "Company"), a biotechnology company focused on the discovery, research and development of new and effective treatments for central nervous system ("CNS") disorders, today announced that Alfred J. Novak was appointed to its Board of Directors (the "Board"). Mr. Novak replaces Dr. Yassine Bendiabdallah, who stepped down from the Board on September 14, 2022. Mr. Novak has broad operating experience as a Chief Executive Officer and Chief Financial Officer and has served on the boards of several pharmaceutical and medical device companies. Mr. Novak brings financial acumen and ext

      9/20/22 8:00:00 AM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form SC 13G filed by Pasithea Therapeutics Corp.

      SC 13G - Pasithea Therapeutics Corp. (0001841330) (Subject)

      11/14/24 3:32:41 PM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form SC 13G/A filed by Pasithea Therapeutics Corp. (Amendment)

      SC 13G/A - Pasithea Therapeutics Corp. (0001841330) (Subject)

      1/13/23 8:02:14 AM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form SC 13D/A filed by Pasithea Therapeutics Corp. (Amendment)

      SC 13D/A - Pasithea Therapeutics Corp. (0001841330) (Subject)

      1/10/23 3:55:25 PM ET
      $KTTA
      Biotechnology: Pharmaceutical Preparations
      Health Care