Pasithea Therapeutics Corp
pasithea.comPasithea Therapeutics Corp (NASDAQ: KTTA) is a clinical-stage biopharmaceutical company developing treatments for psychiatric and neurological disorders. The company generates no product revenue, funding operations through equity raises and a small amount of grant income. As of FY2025, Pasithea recorded $43,000 in grant income from a FightMND agreement (originally entered September 23, 2021) covering research on a monoclonal antibody targeting a5b1 integrin as a potential ALS treatment, recognized as a contra expense within research and development. Its lead program, PAS-004, is in active clinical trials targeting schizophrenia, a condition the World Health Organization estimates affects up to 24 million people globally. Research and development expenses increased approximately $783,000, or 10.9%, for the year ended December 31, 2025, versus the year ended December 31, 2024, driven by higher clinical trial, regulatory, and CMC costs. Drug substance and drug product for PAS-004 are manufactured by WuXi STA, a subsidiary of WuXi AppTec. Pasithea does not own or operate manufacturing facilities.
Products & Services
PAS-004: lead clinical-stage product candidate in active clinical trials for schizophrenia (as of 10-K filed 2026-03-30). PAS-001: additional preclinical-stage product candidate. Monoclonal antibody targeting a5b1 integrin for ALS, acquired via Alpha-5 acquisition and supported by FightMND grant.
Revenue Model
Pre-revenue clinical-stage company. Operations are funded through equity offerings. The only recorded income in FY2025 was $43,000 in grant reimbursements from FightMND under a three-year grant agreement, classified as a contra expense within R&D rather than operating revenue.
Customers & Markets
No commercial customers as of the 10-K filed 2026-03-30. End markets are psychiatric disorders (schizophrenia) and neurological disorders (ALS/Motor Neuron Disease). Potential future customers would be patients, healthcare providers, and potential licensing or collaboration partners.
Geographic Exposure
Incorporated and operating in the United States. FightMND grant agreement denominated in AUD, indicating some Australian research activity via the Alpha-5 acquisition. Clinical trials reference FDA and European regulatory pathways, suggesting planned multi-jurisdictional development.
Financial Snapshot
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