Here is why Pasithea Therapeutics Corp. (KTTA) had a Good Monday?


Pasithea Therapeutics Corp. (KTTA) shares rose 4.24% in after-hours on Monday, November 29, 2021, and closed the daily trading at $4.43. Even in the regular trading session of Monday, KTTA’s stock gained 5.99%. The stock volume remained 23.57 million shares. KTTA shares have moved up 79.32% in the past week. The company has a current market of $56.14 million and its outstanding shares stood at 13.21 million.

Let’s see what’s going on with the company?

Will You Miss Out On This Growth Stock Boom?

A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.

And this is just one of our 5 Best Growth Stocks To Own For 2023.


>> 7 Top Picks for the Post-Pandemic Economy << 

Update about the private placement of common stock

On November 29, 2021, Pasithea Therapeutics Corp. (KTTA; KTTAW) closed its previously announced private placement of common stock and warrants priced at a premium to the market under Nasdaq rules. The Company sold an aggregate of 8.68 million shares of common stock and warrants to purchase 8.68 million shares of common stock at a purchase price of $3.50 per share. The company will get gross proceeds of $30.4 million.

Read More

The net proceeds from the offer will be used for funding pre-clinical research and development work for future product candidates, investing in developing its U.S. and UK clinic businesses, and for working capital and general corporate purposes.

KTTA esketamine approved in the UK

On November 23, 2021, Pasithea Clinics, which is a wholly-owned Subsidiary of Pasithea Therapeutics Corp. (KTTA), has been approved to provide esketamine nasal spray (SPRAVATO®) for treatment-resistant depression in adults and has begun offering the treatment in its Knightsbridge, London location. Only three clinics in the U.K. have been accredited to offer this treatment.

KTTA launched in-home intravenous ketamine therapy

On November 17, 2021, Pasithea Therapeutics Corp. (KTTA) announced that its wholly-owned subsidiary, Pasithea Clinics, commenced clinical operations, offering in-home intravenous ketamine therapy to patients suffering from treatment-resistant mental health issues, in the United States.

Ketamine is a U.S. Food and Drug Administration-approved drug which 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.

KTTA new Scientific advisory board

On November 09, 2021, Pasithea Therapeutics Corp. (KTTA) formed its Scientific Advisory Board (SAB) which is to be chaired by a respected psychiatrist, Charles Nemeroff, M.D., PhD.

SAB will provide directions to Pasithea management and support as the Company advances its mission of developing drugs that target the pathophysiology underlying psychiatric and neurological disorders.

>> 7 Top Picks for the Post-Pandemic Economy << 


The recent announcement about its private placement could be the catalyst behind its positive performance on Monday and we hope that it will continue to perform well on Tuesday.


Please enter your comment!
Please enter your name here