Pasithea Therapeutics Stock Climbs 41% On Positive Clinical Safety Recommendation

(RTTNews) - Pasithea Therapeutics Corp. (KTTA) surged 41.66% to $1.53 during Thursday's trading, gaining $0.45 after its external Safety Review Committee recommended advancing its Phase 1 clinical trial of PAS-004 in advanced cancer to Cohort 6 at a 30mg capsule dose without any protocol modifications.

The stock opened at $1.86 and has traded between $1.45 and $2.34 today, compared to a previous close of $1.08 on the Nasdaq. Trading volume soared to approximately 94.5 million shares, far above the average of about 1.1 million. The stock's 52-week range is $0.9230 to $8.11.

This decision was based on the review of safety data from three patients in Cohort 5 and the absence of any dose limiting toxicities, with no rash observed among the first 19 patients in either the capsule or tablet formulations—an encouraging sign compared to competitor MEK inhibitors.