Pasithea Therapeutics sets public offering price at 75 cents for 80 million shares
Public Offering Announcement: Pasithea Therapeutics has priced a public offering of 80 million shares of common stock at $0.75 per share, aiming to raise approximately $60 million in gross proceeds.
Investor Participation: The offering is backed by healthcare-focused investors such as Vivo Capital and Janus Henderson Investors, with H.C. Wainwright & Co. serving as the exclusive placement agent.
Use of Proceeds: The company plans to utilize the net proceeds from the offering for general corporate purposes.
Cash Runway Extension: Following the offering's closing, expected around December 1, 2025, Pasithea's cash position will extend its financial runway through at least the first half of 2028.
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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.
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