Pasithea Therapeutics Shares Surge Following Positive Trial Review

Pasithea Therapeutics Corp. (KTTA) is experiencing a remarkable surge in premarket trading, with shares rising by $1.18, representing an impressive 56.7% increase, bringing the premarket price to $3.26. This notable jump can be attributed to recent positive developments concerning their Phase 1 clinical trial of PAS-004, a medication targeting advanced cancer.

In a recent announcement, Pasithea revealed that an external Safety Review Committee (SRC) has recommended advancing their clinical trial to cohort 5, which involves a 22mg PAS-004 capsule, without any modifications. This recommendation comes on the heels of a review indicating no dose-limiting toxicities (DLTs) or significant adverse effects observed in the previous cohort of patients.

Dr. Tiago Reis Marques, CEO of Pasithea, expressed optimism about the trial's progress, stating, "As we are observing substantial exposure levels of PAS-004, we remain encouraged by the safety profile PAS-004 continues to exhibit." This positive outlook is further supported by the absence of rashes, a common side effect associated with competing MEK inhibitors, which could lead to a high discontinuation rate in treatment.

Pasithea’s Phase 1 trial evaluates the safety, tolerability, and effectiveness of PAS-004 in patients with MAPK pathway-driven advanced solid tumors or those who have not responded to existing treatments. The encouraging safety report and low incidence of negative side effects have led to heightened investor interest, driving up trading volumes to over 15.7 million shares.

As the company moves forward, focus will be on delivering updated pharmacokinetic (PK) and pharmacodynamic (PD) data, with results anticipated to be shared in the first quarter of 2025. The ongoing positive momentum could offer a significant shift in treatment options for patients battling advanced cancers, confirming the market's enthusiasm for KTTA shares.