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Pasithea Therapeutics Corp. (NASDAQ:KTTA), a biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders, announced on Wednesday 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.
Patients with mental health disorders often struggle to complete day-to-day activities; 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 clinic can often be overwhelming. By providing this treatment at the patient’s home, Pasithea aims to broaden access to this important therapy, reported Pasithea in a press release.
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“The need for more effective treatment options for patients with mental health disorders has never been greater. Ketamine, when used at subanesthetic doses, has been shown to be highly effective in treating some psychiatric disorders,” stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.
“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 ketamine therapy in the privacy and comfort of their own homes. This launch is an important stepping stone in expanding our international footprint in this space,” added Reis Marques.
Dr. Adam Nadelson, managing director of Pasithea Clinics in the United States added that patient safety is essential and that the company has set up a network of professionals to administer the treatment.
“We are pleased to commence our U.S. rollout in major cities, with plans to scale our business in other cities over the coming months," Nadelson said. "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. We believe we can become the best-in-class and largest provider of IV ketamine treatments in the United States.”
Ketamine for Psychiatric Disorders
Ketamine, approved by the U.S. Food and Drug Administration, was introduced to the medical community as an anesthetic over 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 and post-traumatic stress disorder (PTSD), ketamine has shown remarkable efficacy and a rapid and sustained effect. 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.
Price Action
KTTA was trading 2.03%, higher at $2.51 per share on Tuesday night.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.