Pasithea Therapeutics, a preclinical biotech researching drugs for psychiatric and neuro disorders, filed on Tuesday with the SEC to raise up to $20 million in an initial public offering.
Pasithea is focused on the discovery and development of novel drugs for the treatment of psychiatric and neurological disorders. The company does not currently have a lead candidate in development. It plans to discover three lead candidate compounds targeting the immune system's connection to the pathology of certain psychiatric disorders, with a development timeline of 24 months post-IPO. Pasithea has a secondary line of business which aims to establish anti-depression clinics in the UK and US in which medical doctors will administer intravenous ketamine to eligible patients.
The Miami Beach, FL-based company was founded in 2020 and plans to list on the Nasdaq under the symbol KTTA. Kingswood Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.
