Pasithea Therapeutics Receives $1 Million Grant from ALS Association
Grant Award: Pasithea Therapeutics received a ~$1 million grant from the ALS Association to study the efficacy, safety, and tolerability of PAS-004 in ALS patients.
Clinical Trial Initiation: The funding will support the first clinical trial of PAS-004 for ALS, marking a significant milestone for Pasithea in developing treatments for the disease.
Mechanism of Action: PAS-004 targets a critical molecule involved in motor neuron disease and has shown promising results in preclinical models, specifically the ALS gold standard SOD mouse model.
Current Applications: PAS-004 is already being tested in clinical settings for neurofibromatosis and advanced cancers, demonstrating a favorable safety profile and initial efficacy signals.
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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.
