Pasithea Therapeutics Reports Positive Pharmacodynamic Results Demonstrating Robust Target Engagement from its Ongoing Phase 1 Clinical Trial of PAS-004
Positive Clinical Results: Pasithea Therapeutics reported that its drug PAS-004 shows up to 91% inhibition of pERK in advanced cancer patients, with one patient experiencing a 9.8% reduction in tumor volume over five months of treatment.
Ongoing Phase 1 Trial: The company is conducting a Phase 1 clinical trial to evaluate the safety and efficacy of PAS-004 in patients with MAPK pathway-driven tumors, with promising preliminary data indicating strong target engagement and tolerability.
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Pasithea Therapeutics Closes $60M Public Offering of 80M Shares
- Successful Financing: Pasithea Therapeutics has completed a public offering of 80 million shares at $0.75 per share, raising approximately $60 million, which enhances the company's financial strength to support future R&D and clinical trials.
- Cash Runway Extension: This financing is expected to extend the company's cash runway through at least the first half of 2028, ensuring ongoing investment in new drug development and clinical trials, thereby enhancing market competitiveness.
- Clear Investment Direction: The company plans to use the proceeds for general corporate purposes, including ongoing research, clinical trials, and acquiring companies that complement its technologies, aiming to accelerate technological development and market expansion.
- Increased Market Confidence: The offering was led by several healthcare-focused investors, indicating strong market confidence in Pasithea's future development, which may attract more investor interest in its subsequent progress.
Vision Marine Technologies Stock Rises Over 10%; Check Out 20 Stocks Making Moves in Premarket Trading
Vision Marine Technologies Performance: Vision Marine Technologies Inc. shares rose 10.5% to $1.36 in pre-market trading after announcing strong financial results for the fiscal year ending August 31, 2025, and highlighting strategic expansion following the acquisition of Nautical Ventures, which generated $12.8 million in revenue.
Other Gainers in Pre-Market Trading: Several stocks saw significant gains in pre-market trading, including WEBUY Global Ltd. (+62.1%), Direct Digital Holdings, Inc. (+60.6%), and INVO Fertility, Inc. (+24.7%), with various companies announcing acquisitions or strategic plans.
Notable Losers in Pre-Market Trading: SMX (Security Matters) PLC experienced a sharp decline of 24.6% after a previous surge, while Springview Holdings Ltd. fell 20.7% following a reverse share split announcement.
Market Overview: The pre-market trading session showed a mix of gains and losses across various stocks, with some companies like New Fortress Energy Inc. and Canadian Solar Inc. also reporting notable increases.
Pasithea Announces $60 Million Offering to Support PAS-004 and Expand Pipeline
Stock Performance: Pasithea Therapeutics Corp. (KTTA) shares surged by up to 38% following the announcement of a $60 million public offering of 80 million shares at $0.75 each, with the offering expected to close around December 1, 2025.
Use of Proceeds: The net proceeds from the offering will extend Pasithea's cash runway through at least the first half of 2028, funding ongoing research, clinical trials, and other operational needs.
Lead Candidate Development: Pasithea's lead candidate, PAS-004, is a next-generation MEK inhibitor currently in Phase 1 trials for advanced cancer and neurofibromatosis type 1, aiming to provide new treatment options for these conditions.
Recent Funding: The company received a $1 million grant from the ALS Association to study PAS-004 in amyotrophic lateral sclerosis (ALS), indicating an expansion of its research into neurodegenerative disorders.
Pasithea Therapeutics Stock Jumps Almost 39% Following $60 Million Equity Financing
Stock Performance: Pasithea Therapeutics Corp. (KTTA) experienced a 38.68% increase in stock price, rising to $1.47 after announcing a $60 million public offering.
Public Offering Details: The company will issue 80 million shares at $0.75 each, with net proceeds aimed at supporting the development of its lead drug candidate PAS-004 and funding clinical trials.
Investor Reaction: The announcement led to unusually high trading volume, indicating renewed investor confidence in the company's pipeline.
Financial Outlook: The funding is expected to extend the company's cash runway through at least the first half of 2028, with the stock's 52-week range being approximately $0.45 to $2.40.
Crude Oil Rises by 1%; Tilray Brands Stock Drops Sharply
U.S. Stock Market Performance: U.S. stocks rose on Friday, with the Dow Jones increasing by over 250 points, while the NASDAQ and S&P 500 also saw gains. Energy shares led the rise, up 1.6%, while health care stocks fell by 0.6%.
Notable Stock Movements: Chagee Holdings Limited's shares rose by 7% after earnings release, while DeFi Technologies Inc. surged 11% following the approval of a compliant CAD stablecoin. Pasithea Therapeutics Corp. saw a 61% increase after announcing a public offering.
Declines in Specific Stocks: Rubico Inc. and Tilray Brands, Inc. experienced significant drops of 25% and 19%, respectively, due to reverse stock splits. Rich Sparkle Holdings Limited fell 34% after announcing a partnership involving EDU tokens.
Commodity and International Market Updates: Oil and gold prices increased, with silver and copper also seeing gains. European shares were generally higher, while Asian markets closed mixed, with Japan's Nikkei slightly up and Hong Kong's Hang Seng down.
Pasithea Therapeutics Prices 80M Shares at $0.75, Raising $60M
- Funding Scale: Pasithea Therapeutics announced the pricing of 80 million shares at $0.75 each, raising approximately $60 million, which will extend the company's cash runway through at least the first half of 2028.
- Use of Proceeds: The funds raised will be allocated for general corporate purposes, including ongoing research and clinical trials, aimed at advancing the development of PAS-004 and enhancing the company's competitiveness in the biotechnology sector.
- Investor Support: The public offering is led by several healthcare-focused investors, including Vivo Capital and Janus Henderson Investors, indicating strong market confidence in Pasithea's future growth prospects.
- Clinical Trial Progress: Pasithea is conducting clinical trials for PAS-004 targeting neurofibromatosis type 1-associated plexiform neurofibromas, and the funding will accelerate this project, bolstering the company's market position in cancer treatment.
Pasithea Therapeutics Closes $60M Public Offering of 80M Shares
- Successful Financing: Pasithea Therapeutics has completed a public offering of 80 million shares at $0.75 per share, raising approximately $60 million, which enhances the company's financial strength to support future R&D and clinical trials.
- Cash Runway Extension: This financing is expected to extend the company's cash runway through at least the first half of 2028, ensuring ongoing investment in new drug development and clinical trials, thereby enhancing market competitiveness.
- Clear Investment Direction: The company plans to use the proceeds for general corporate purposes, including ongoing research, clinical trials, and acquiring companies that complement its technologies, aiming to accelerate technological development and market expansion.
- Increased Market Confidence: The offering was led by several healthcare-focused investors, indicating strong market confidence in Pasithea's future development, which may attract more investor interest in its subsequent progress.
Vision Marine Technologies Stock Rises Over 10%; Check Out 20 Stocks Making Moves in Premarket Trading
Vision Marine Technologies Performance: Vision Marine Technologies Inc. shares rose 10.5% to $1.36 in pre-market trading after announcing strong financial results for the fiscal year ending August 31, 2025, and highlighting strategic expansion following the acquisition of Nautical Ventures, which generated $12.8 million in revenue.
Other Gainers in Pre-Market Trading: Several stocks saw significant gains in pre-market trading, including WEBUY Global Ltd. (+62.1%), Direct Digital Holdings, Inc. (+60.6%), and INVO Fertility, Inc. (+24.7%), with various companies announcing acquisitions or strategic plans.
Notable Losers in Pre-Market Trading: SMX (Security Matters) PLC experienced a sharp decline of 24.6% after a previous surge, while Springview Holdings Ltd. fell 20.7% following a reverse share split announcement.
Market Overview: The pre-market trading session showed a mix of gains and losses across various stocks, with some companies like New Fortress Energy Inc. and Canadian Solar Inc. also reporting notable increases.
Pasithea Announces $60 Million Offering to Support PAS-004 and Expand Pipeline
Stock Performance: Pasithea Therapeutics Corp. (KTTA) shares surged by up to 38% following the announcement of a $60 million public offering of 80 million shares at $0.75 each, with the offering expected to close around December 1, 2025.
Use of Proceeds: The net proceeds from the offering will extend Pasithea's cash runway through at least the first half of 2028, funding ongoing research, clinical trials, and other operational needs.
Lead Candidate Development: Pasithea's lead candidate, PAS-004, is a next-generation MEK inhibitor currently in Phase 1 trials for advanced cancer and neurofibromatosis type 1, aiming to provide new treatment options for these conditions.
Recent Funding: The company received a $1 million grant from the ALS Association to study PAS-004 in amyotrophic lateral sclerosis (ALS), indicating an expansion of its research into neurodegenerative disorders.
Pasithea Therapeutics Stock Jumps Almost 39% Following $60 Million Equity Financing
Stock Performance: Pasithea Therapeutics Corp. (KTTA) experienced a 38.68% increase in stock price, rising to $1.47 after announcing a $60 million public offering.
Public Offering Details: The company will issue 80 million shares at $0.75 each, with net proceeds aimed at supporting the development of its lead drug candidate PAS-004 and funding clinical trials.
Investor Reaction: The announcement led to unusually high trading volume, indicating renewed investor confidence in the company's pipeline.
Financial Outlook: The funding is expected to extend the company's cash runway through at least the first half of 2028, with the stock's 52-week range being approximately $0.45 to $2.40.
Crude Oil Rises by 1%; Tilray Brands Stock Drops Sharply
U.S. Stock Market Performance: U.S. stocks rose on Friday, with the Dow Jones increasing by over 250 points, while the NASDAQ and S&P 500 also saw gains. Energy shares led the rise, up 1.6%, while health care stocks fell by 0.6%.
Notable Stock Movements: Chagee Holdings Limited's shares rose by 7% after earnings release, while DeFi Technologies Inc. surged 11% following the approval of a compliant CAD stablecoin. Pasithea Therapeutics Corp. saw a 61% increase after announcing a public offering.
Declines in Specific Stocks: Rubico Inc. and Tilray Brands, Inc. experienced significant drops of 25% and 19%, respectively, due to reverse stock splits. Rich Sparkle Holdings Limited fell 34% after announcing a partnership involving EDU tokens.
Commodity and International Market Updates: Oil and gold prices increased, with silver and copper also seeing gains. European shares were generally higher, while Asian markets closed mixed, with Japan's Nikkei slightly up and Hong Kong's Hang Seng down.
Pasithea Therapeutics Prices 80M Shares at $0.75, Raising $60M
- Funding Scale: Pasithea Therapeutics announced the pricing of 80 million shares at $0.75 each, raising approximately $60 million, which will extend the company's cash runway through at least the first half of 2028.
- Use of Proceeds: The funds raised will be allocated for general corporate purposes, including ongoing research and clinical trials, aimed at advancing the development of PAS-004 and enhancing the company's competitiveness in the biotechnology sector.
- Investor Support: The public offering is led by several healthcare-focused investors, including Vivo Capital and Janus Henderson Investors, indicating strong market confidence in Pasithea's future growth prospects.
- Clinical Trial Progress: Pasithea is conducting clinical trials for PAS-004 targeting neurofibromatosis type 1-associated plexiform neurofibromas, and the funding will accelerate this project, bolstering the company's market position in cancer treatment.
