Neurology Focused Pasithea Therapeutics Stock Soars Over 150% Today - Here's Why

Pasithea Therapeutics Corp KTTA announced preclinical results from two in vivo studies evaluating the antitumor efficacy of PAS-004 in NRAS mutation cancer xenograft models.

In the first study, PAS-004 exhibited dose-dependent antitumor efficacy in the lung cancer NCI-H1299 cell-line-derived xenograft model. PAS-004 at dose levels of 10 mg/kg and 5 mg/kg, once daily, significantly inhibited tumor growth compared to vehicle control. 

The antitumor efficacy of PAS-004, when taken at equivalent doses, was shown to be superior to that of Pfizer Inc's PFE Mektovi (binimetinib) and AstraZeneca Plc's AZN Koselugo (selumetinib).

In the second study, PAS-004 exhibited dose-dependent antitumor efficacy in the liver cancer xHepG2 cell-line-derived xenograft model. PAS-004 at dose levels of 10 mg/kg and 5 mg/kg, once daily, produced significant antitumor activities compared to vehicle control. 

The antitumor efficacy of PAS-004, when taken at equivalent doses, was shown to be similar to that of binimetinib and superior to that of selumetinib.

The company plans to start the Phase 1 study as early as the first quarter of 2024, following acceptance of the company's Investigational New Drug Application (IND) with the FDA.

Price Action: KTTA shares are up 172.90% at $0.82 during the premarket session on the last check Monday.