Pasithea Therapeutics Corp's KTTA wholly-owned subsidiary, Pasithea Clinics, has been approved to provide esketamine nasal spray (Spravato) for treatment-resistant depression (TRD) in adults.
Related Link: EXCLUSIVE: Pasithea Administers First IV Ketamine Infusion Therapy In Depression Patients.
The Company has begun offering the treatment in its Knightsbridge, London location. Pasithea Clinics is one of only three accredited clinics in the U.K. approved to offer esketamine nasal spray for mental health disorders.
Why It Matters: "This is an important milestone for our U.K. clinics and their patients," stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.
The CEO said that current treatments for major depression have limited success, and up to 30% of patients do not respond to consecutive trials of antidepressant treatment.
"Esketamine is safe and effective, especially when combined with ongoing psychiatric support. Due to some risks associated with this drug, patients treated in outpatient settings must be enrolled in a specific program," said Dr. Yassine Bendiabdallah, Managing Director of Pasithea Clinics in the U.K.
Spravato CIII nasal spray is a non-selective, non-competitive antagonist of the N-methyl-D-aspartate (NMDA) receptor.
Spravato is approved in the U.S., in conjunction with an oral antidepressant, for TRD and depressive symptoms in adults with major depressive disorder (MDD) with acute suicidal ideation or behavior.
Spravato has been submitted for health authorities' review in other markets, including Europe.
Price Action: KTTA shares closed 6.75% lower at $2.21 on Monday.
Photo by Anemone123 from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
