• 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 Alpha-5 Integrin, LLC

    6/22/22 8:00:00 AM ET
    $KTTA
    Biotechnology: Pharmaceutical Preparations
    Health Care
    Get the next $KTTA alert in real time by email

    - 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 amyotrophic lateral sclerosis ("ALS") and other neuroinflammatory disorders, such as Multiple Sclerosis ("MS").

    Alpha-5's lead therapeutic candidate has a novel mechanism of action with the potential to improve clinical outcomes in patients with ALS, and is supported by post-mortem studies and with reproducible significant improvement in behavior and survival in the SOD1 mice model. The acquisition includes Alpha-5 proprietary antibodies with novel intellectual property and brings to Pasithea a group of seasoned scientists and a state-of-the-art laboratory.

    The Company acquired all of the outstanding equity interests in Alpha-5 at an enterprise value for $3.75 million, payable in 3.26 million shares of Pasithea common stock, valued at $1.15 per share, an 11% premium to the closing price on June 21, plus 1 million warrants. An entity controlled by Paul B. Manning, Chairman and CEO of PBM Capital, a healthcare-focused investment firm, is Alpha-5's majority owner and, following the transaction, will own approximately 10% of Pasithea common stock. Cassel Salpeter & Co. acted as financial advisor to the Company on this transaction.

    "This agreement with Pasithea represents the culmination of years of work by Alpha-5 researchers, successfully leveraging their deep scientific expertise in the integrin space. We believe Pasithea will be well-positioned to apply its capabilities to move this asset forward and make an impact on ALS disease for the benefit of patients," said Paul B. Manning.

    "Treatments for ALS are extremely limited. Only two drugs are currently approved, with minimal impact on disease, and the majority of patients progress to death within a few years of symptom onset. The Alpha-5 acquisition is transformative for Pasithea, by adding a new drug with a novel mechanism of action to our pipeline, while preserving our strong cash position. In addition to the Alpha-5 development program, we will also acquire a wet lab and scientific team to develop our existing tolerizing vaccine and complementary program. Our plan is to file an Alpha-5 investigational new drug application (IND) with an orphan drug designation by the end of 2023," stated Dr. Tiago Reis Marques, CEO of Pasithea.

    Stanford Professor Larry Steinman, Chairman of the Board and co-founder of Pasithea and a minority owner of Alpha-5 said, "My work has been instrumental for the discovery of natalizumab, an anti-alpha 4 integrin mAb. This was the first drug developed in the class of selective adhesion molecule inhibitors and a potent therapeutic for multiple sclerosis. We believe that alpha-5 integrin antibody can also be transformative in the treatment of other neurological disorders, such as ALS or MS. Post-mortem human studies and preclinical work conducted so far support this therapeutic target and we are excited to move it into clinical trials." Professor Steinman recused himself from the vote to approve the transaction.

    Transaction Details

    At the closing of the transaction, the Company acquired all of Alpha-5's issued and outstanding equity interests in exchange for 3,260,870 shares of Pasithea common stock plus warrants to acquire an additional 1,000,000 shares at an exercise price of $1.88 per share for a period of five years. The number of shares was calculated by dividing a $3.75 million enterprise value by $1.15 per share of Pasithea Common Stock, an 11% premium to the closing price on June 21. There are potential future earnouts based on net sales. There will be no post-closing adjustments for cash and working capital.

    To further discuss the transaction, Pasithea´s management will host a webcast as follows:
       
    Date: June 22, 2022
    Time: 9 a.m. ET
    URL: https://event.choruscall.com/mediaframe/webcast.html?webcastid=aph1RpCR
       
    The webcast will be accessible on the Investors section of the website, www.ir.pasithea.com, and will be archived for 90 days following the event.

    About Pasithea Therapeutics Corp.

    Pasithea Therapeutics Corporation is a U.S. biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological 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. Pasithea is also focused on addressing the needs of patients currently suffering with mental illness by providing access to IV ketamine infusions both in clinics and in-home settings.

    About Amyotrophic Lateral Sclerosis

    ALS is a progressive neurodegenerative disease that affects nerve cells in the brain and spinal cord, causing loss of muscle control. It most commonly affects people between the ages of 40 and 70, with an average age of 55 at the time of diagnosis. It affects as many as 30,000 patients in the United States, with 5,000 new cases diagnosed each year. The average life expectancy after diagnosis is two to five years, but some patients may live for years or even decades. While 5-10% of cases are hereditary (familial ALS), the large majority of cases (90-95%) are not hereditary (Sporadic ALS). The cause of ALS is not completely understood and multiple complex factors may contribute to the death of motor neurons. Currently there is no known cure or treatment that halts or reverses the progression of ALS, and FDA only approved 2 medications so far for the treatment of this disorder, both shown to modestly slow the progression of ALS.

    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

    E: [email protected]

    Pasithea Therapeutics Corp. Investor Relations

    Lisa M. Wilson

    In-Site Communications, Inc.

    T: 212-452-2793

    E: [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
    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
    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

    $KTTA
    Financials

    Live finance-specific insights

    See more

    $KTTA
    Press Releases

    Fastest customizable press release news feed in the world

    See more

    $KTTA
    Insider Trading

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

    See more

    $KTTA
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more

    $KTTA
    Leadership Updates

    Live Leadership Updates

    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
    • 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
    • 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
    • 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
    • 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
    • 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