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Pasithea Therapeutics Opens Second Ketamine Therapy Clinic in the United Kingdom

Pasithea Therapeutics Opens Second Ketamine Therapy Clinic in the United Kingdom

— Expanding Pasithea Clinics footprint in London —

MIAMI BEACH, Fla., Dec. 21, 2021 (GLOBE NEWSWIRE) — Pasithea Therapeutics Corp. (NASDAQ: KTTA) (“Pasithea” or the “Company”), a novel biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders, today announced that its wholly owned subsidiary, Pasithea Clinics, has opened its second London clinic in Marylebone offering intravenous (“IV”) ketamine therapy to patients suffering from treatment-resistant mental health issues. The Company opened its first U.K. clinic in Knightsbridge in October 2021.

“Through our second London clinic, we are pleased to increase access to this important therapy for patients in the U.K. with treatment-resistant mental health disorders,” stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics. “More than ever, new treatment therapies are urgently needed for these patients and by broadening our coverage, we can work to close the treatment gap.”

“Two decades of research supports the efficacy of ketamine in improving symptoms experienced in some mental health disorders. With the opening of our Marylebone location, we are expanding our footprint in the U.K. and will continue to work toward bringing this treatment option to patients nationwide,” said Dr. Yassine Bendiabdallah, Managing Director of Pasithea Clinics in the U.K.

Ketamine is a U.S. Food and Drug Administration (“FDA”) approved drug introduced to the medical community as an anesthetic more than 50 years ago. It has recently been repurposed for the treatment of psychiatric disorders using significantly lower doses than in anesthesia and is gaining ground as a promising treatment for mental health disorders. In certain psychiatric conditions, such as treatment-resistant depression (“TRD”) and post-traumatic stress disorder (“PTSD”), it has shown remarkable efficacy and a rapid and sustained effect.

Major Depression is the leading cause of long-term disability worldwide, according to the World Health Organization, with existing treatments having limited success rates, numerous side effects and onset of action delayed by several weeks. Studies have shown that up to 70% of those who receive IV ketamine treatment can eventually show a clinical response. While the number of treatments suggested is done on a case-by-case basis, a typical treatment plan consists of up to six infusions in the interval of two to three weeks.

About Pasithea Therapeutics Corp.

Pasithea Therapeutics Corporation is a U.S. biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders. With an experienced team of experts in the fields of neuroscience and psychopharmacology, Pasithea is developing new molecular entities for the treatment of psychiatric and neurological disorders. Pasithea is also focused on addressing the needs of patients currently suffering with mental illness by providing access to IV ketamine infusions both in clinics and in-home settings.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Company’s filings with the SEC. Thus, actual results could be materially different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.

Pasithea Therapeutics Corp. Company Contact
Dr. Tiago Reis Marques
Chief Executive Officer
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations
Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

Primary Logo

Source: Pasithea

Released December 21, 2021

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Pasithea Therapeutics Expands its Mobile Clinics into Florida and Nevada

Pasithea Therapeutics Expands its Mobile Clinics into Florida and Nevada

— Pasithea Clinics commences in-home IV ketamine infusion therapy in Florida and Nevada —

— Treatments conducted by board-certified medical professionals —

— Expansion to additional U.S. cities in coming months —

MIAMI BEACH, Fla., Dec. 01, 2021 (GLOBE NEWSWIRE) — Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), a novel biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders, today announced that Pasithea Clinics, its wholly owned subsidiary, has expanded the availability of its intravenous (“IV”) ketamine therapy to patients in Florida and Nevada. Ketamine was introduced to the medical community as an anesthetic more than 50 years ago and in sub-anesthetic doses has shown remarkable efficacy in the treatment of certain psychiatric conditions, such as treatment-resistant depression (“TRD”) and post-traumatic stress disorder (“PTSD”).

“In November, we opened our first U.S. mobile clinics in New York and California, and we’re pleased to announce that our in-home IV ketamine infusion therapy is now available in Nevada and Florida,” said Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics. “The pandemic has exacerbated the mental health crisis and the number of patients suffering from depression increased by approximately 25% in the past year. Today, up to three million Americans are known to have a diagnosis of treatment-resistant depression. These patients often struggle to complete day-to-day activities, and the effort required to visit a physical clinic can feel overwhelming. By expanding access to in-home treatment, we aim to close the treatment gap. Initially, the treatment will be offered in Miami and Las Vegas and will expand to other cities in these states in the coming weeks. Pasithea mobile clinics are already available in New York City, Los Angeles, San Diego, and San Francisco.”

“The efficacy of ketamine in improving symptoms of some mental health disorders is well documented, and our mobile clinics enable patients to receive therapy in the privacy and comfort of their own homes while still under the care of an experienced medical team. This type of program can be crucial for people who struggle with treatment-resistant depression and is an important step in expanding access to IV ketamine treatment. We look forward to continuing our U.S. expansion in the coming months,” concluded Dr. Adam Nadelson, Managing Director of Pasithea Clinics in the United States.

Studies have shown that up to 70% of those who receive IV ketamine treatment will eventually show a clinical response. While the number of treatments suggested is done on a case-by-case basis, a typical treatment plan consists of up to six infusions over a period of two to three weeks.

About Pasithea Therapeutics Corp.

Pasithea Therapeutics Corporation is a U.S. biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders. With an experienced team of experts in the fields of neuroscience and psychopharmacology, Pasithea is developing new molecular entities for the treatment of psychiatric and neurological disorders. Pasithea is also focused on addressing the needs of patients currently suffering with mental illness by providing access to IV ketamine infusions both in clinics and in-home settings.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Company’s filings with the SEC. Thus, actual results could be materially different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.

Pasithea Therapeutics Corp. Company Contact
Dr. Tiago Reis Marques
Chief Executive Officer
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations
Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

Primary Logo

Source: Pasithea

Released December 1, 2021

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Pasithea Therapeutics Corp. Announces Pricing of a $30.4 Million Private Placement Priced at a Premium to the Market Under Nasdaq Rules

Pasithea Therapeutics Corp. Announces Pricing of a $30.4 Million Private Placement Priced at a Premium to the Market Under Nasdaq Rules

MIAMI BEACH, Fla., Nov. 24, 2021 (GLOBE NEWSWIRE) — Pasithea Therapeutics Corp. (Nasdaq: KTTA; KTTAW) (“Pasithea” or the “Company”), a biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders, today announced that it has entered into securities purchase agreements with certain institutional investors to purchase 8.68 million shares of its common stock and warrants to purchase 8.68 million shares of its common stock, at a purchase price of $3.50 per share and accompanying warrant in a private placement priced at a premium to the market under Nasdaq rules. The gross proceeds to the Company from the private placement are expected to be approximately $30.4 million before deducting the placement agent’s fees and other estimated offering expenses.

The warrants will be immediately exercisable from the date of issuance and have an exercise price of $3.50 per share. The warrants will expire five years from the date of issuance. The offering is expected to close on or about November 29, 2021, subject to the satisfaction of customary closing conditions.

EF Hutton, division of Benchmark Investments, LLC, is acting as exclusive placement agent for the offering.

The Company currently intends to use the net proceeds from the private placement to fund pre-clinical research and development work for future product candidates, invest in developing its U.S. and UK clinic businesses, and for working capital and general corporate purposes.

The securities were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder and have not been registered under the Act, or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.

Under an agreement with the investors, the Company is required to file an initial registration statement with the Securities and Exchange Commission (“SEC”) covering the resale of the securities to be issued to the investors in the private placement no later than 15 days from the date of the securities purchase agreements and to use best efforts to have the registration statement declared effective as promptly as practical thereafter, and in any event no later than 90 days after the date of the securities purchase agreements in the event of a “full review” by the SEC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Pasithea Therapeutics Corp.

Pasithea Therapeutics Corp. is a U.S. biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders. With an experienced team of experts in the fields of neuroscience and psychopharmacology, Pasithea is developing new molecular entities for the treatment of psychiatric and neurological disorders. Pasithea is also focused on addressing the needs of patients currently suffering with mental illness by providing access to IV ketamine infusions both in clinics and in-home settings.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this press release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Company’s filings with the SEC. Thus, actual results could be materially different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.

Pasithea Therapeutics Corp. Company Contact

Dr. Tiago Reis Marques
Chief Executive Officer
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations

Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

Source: Pasithea

Released November 24, 2021

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Pasithea Therapeutics Launches In-Home Intravenous Ketamine Therapy in Major U.S. Cities, Expanding its International Footprint

Pasithea Therapeutics Launches In-Home Intravenous Ketamine Therapy in Major U.S. Cities, Expanding its International Footprint

— Pasithea Clinics to offer ketamine infusion therapy for the treatment of mental health disorders —

— First mobile clinics launch in New York City, Los Angeles, San Diego, and San Francisco, with expansion to additional U.S. cities in coming months —

— Treatments conducted by board-certified medical professionals —

MIAMI BEACH, Fla., Nov. 17, 2021 (GLOBE NEWSWIRE) — Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), a novel biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders, today announced that its wholly owned subsidiary, Pasithea Clinics, commenced clinical operations, offering in-home intravenous (“IV”) ketamine therapy to patients suffering from treatment-resistant mental health issues. Initially, the treatment will be offered in New York City, Los Angeles, San Diego, and San Francisco and will expand nationwide in the coming months.

“The need for more effective treatment options for patients with mental health disorders has never been greater. Ketamine, when used at sub-anesthetic doses, has been shown to be highly effective in treating some psychiatric disorders. Still, we need to broaden access to this treatment to a larger patient population in a safe and convenient way. Through our mobile clinics, patients benefit from receiving the ketamine therapy in the privacy and comfort of their own homes. With patient safety as our top priority, all ketamine treatments will be delivered by board-certified medical professionals. This launch is an important stepping stone in expanding our international footprint in this space,” stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.

Patients with mental health disorders often struggle to complete day-to-day activities, and even small tasks can take extra effort. In disorders such as depression and post-traumatic stress disorder, symptoms such as fatigue, social isolation, lack of motivation, and high levels of anxiety are frequent. The effort to go to a physical clinic can be overwhelming. By providing this treatment at the patient’s home, Pasithea aims to broaden access to this important therapy.

“We are pleased to commence our U.S. rollout in major cities in New York and California, with plans to scale our business in other cities over the coming months. Although ketamine is a very safe drug to administer, there are still some risks. Patient safety is of paramount importance, and we are providing a network of highly trained medical professionals to administer this treatment in the comfort of the patient´s home. Our medical team ensures that our patients receive state-of-the-art support throughout their treatment experience. We believe we can become the best-in-class and largest provider of IV ketamine treatments in the United States. We will use our at-home model to expand our reach in the U.S. in a fast and accessible way,” said Dr. Adam Nadelson, Managing Director of Pasithea Clinics in the United States.

Ketamine is a U.S. Food and Drug Administration (“FDA”) approved drug introduced to the medical community as an anesthetic more than 50 years ago. It has recently been repurposed for the treatment of psychiatric disorders using significantly lower doses than in anesthesia and is now gaining ground as a promising treatment for mental health disorders. In certain psychiatric conditions, such as treatment-resistant depression (“TRD”) and post-traumatic stress disorder (“PTSD”), it has shown remarkable efficacy and a rapid and sustained effect, and up to 70% of those who receive this treatment can eventually show a clinical response. While the number of treatments suggested is done on a case-by-case basis, a typical treatment plan consists of up to six infusions in the interval of two to three weeks.

About Pasithea Therapeutics Corp.

Pasithea Therapeutics Corporation is a U.S. biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders. With an experienced team of experts in the fields of neuroscience and psychopharmacology, Pasithea is developing new molecular entities for the treatment of psychiatric and neurological disorders. Pasithea is also focused on addressing the needs of patients currently suffering with mental illness by providing access to IV ketamine infusions both in clinics and in-home settings.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Company’s filings with the SEC. Thus, actual results could be materially different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.

Pasithea Therapeutics Corp. Company Contact
Dr. Tiago Reis Marques
Chief Executive Officer
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations
Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com