Pasithea Therapeutics Closes $5M Public Offering

Pasithea Therapeutics Corp., a biotechnology firm in the clinical-stage of development, has successfully completed a public offering of its common stock. This offering included 3,571,428 shares and accompanying Series C and D warrants, each priced at $1.40. These financial instruments provide investors with opportunities to purchase additional shares. The Series C warrants are available for exercise immediately and have a five-year lifespan, while the Series D warrants also allow immediate exercise but expire after 18 months.

Upon closing the offering, a segment of investors chose to exercise the Series D warrants, resulting in the acquisition of an additional 914,286 shares. This exercise generated approximately $1.3 million in extra revenue for the company. Altogether, the offering brought in gross proceeds of $5 million before subtracting the placement agent’s fees and associated expenses. Combining the offering proceeds and the exercise of Series D warrants, the total gross revenue reached about $6.3 million.

Pasithea plans to channel these funds into various corporate initiatives. These endeavors include ongoing research, pre-clinical studies, clinical trials, and the advancement of new biological and pharmaceutical technologies. The company is also considering investments or acquisitions of other businesses that align with its technological offerings. Furthermore, Pasithea is exploring licensing activities related to its current and future products and developing and acquiring emerging technologies.

H.C. Wainwright & Co. served as the exclusive placement agent for this offering. The securities were issued following a registration statement on Form S-1, filed with the Securities and Exchange Commission (SEC) on May 1, 2025, and declared effective on May 6, 2025. The offering was conducted strictly through a prospectus that is part of the approved registration statement. The final prospectus regarding the offering has been filed with the SEC and is accessible on their website.

Pasithea Therapeutics is a company that delves into the discovery, research, and development of groundbreaking treatments for disorders of the central nervous system, RASopathies, and tumors driven by the MAPK pathway. They are currently advancing a macrocyclic MEK inhibitor, PAS-004, which is aimed at treating neurofibromatosis type 1 (NF1) and other cancer types.

This strategic financial maneuver allows Pasithea to continue pursuing its research and development objectives, potentially leading to significant innovations in the treatment of various serious health conditions. The successful completion of this public offering and the subsequent financial reinforcement demonstrate the company's robust position and its commitment to advancing healthcare solutions.