Pasithea Therapeutics Plunges 12.5% Despite Positive Clinical Data

On May 7, 2025, Pasithea Therapeutics experienced a significant drop of 12.5% in pre-market trading, marking a notable decline in its stock performance.

Pasithea Therapeutics recently completed a public offering, raising $5 million through the sale of 3,571,428 shares priced at $1.40 per share. This funding round is expected to support the company's ongoing research and development efforts, particularly in advancing its lead therapeutic candidate, PAS-004, a next-generation macrocyclic MEK inhibitor.

The company has also reported positive pharmacodynamic results from its ongoing Phase 1 clinical trial of PAS-004, demonstrating robust target engagement. This development is crucial as it indicates the potential efficacy of PAS-004 in treating central nervous system (CNS) disorders and certain oncology indications, including neurofibromatosis type 1-associated plexiform neurofibromas.

Additionally, Pasithea Therapeutics has completed the enrollment and initial dosing of patients in Cohort 6 from its Phase 1 trial of PAS-004 in advanced cancer patients. This milestone is significant as it brings the company one step closer to potentially groundbreaking treatments for these challenging conditions.