Pasithea Therapeutics (NASDAQ:KTTA) recently underwent a significant corporate maneuver, conducting a 1-for-20 reverse stock split. Simultaneously, the company broke the news that the FDA has given the green light for Phase 1 testing of its potential oncology blockbuster, PAS-004.
Coming to light in an SEC filing submitted on December 28, the reverse stock split is poised to unleash a fresh trading landscape for split-adjusted shares as of the market’s opening bell on Tuesday, January 2.
Steering attention toward its ambitiously promising pipeline, Pasithea Therapeutics also unveiled that its Investigational New Drug application for PAS-004 has received approval from the FDA, signifying a pivotal milestone for the company’s drug development pathway.
Harnessing the momentum from the FDA’s nod, Pasithea is poised to administer the first dose to a patient participating in a Phase 1 dose escalation study during Q1 in its concerted efforts to evaluate the therapeutic potential of PAS-004, particularly in patients grappling with MAPK pathway-driven advanced solid tumors.