Majority of Stockholders Support Pasithea Directors at Special Meeting

Rhea-AI Summary

Pasithea Therapeutics Corp. (Nasdaq: KTTA) announced the results of its Special Meeting of Stockholders held on December 9, 2022. Approximately 67% of stockholders voted against proposals to remove the current Board of Directors, representing about 12.7 million shares or 44% of total shares. This decision allows the current Board to continue overseeing the company's strategy. CEO Dr. Tiago Reis Marques expressed gratitude for stockholder support and commitment to developing innovative treatments for CNS disorders, including ALS and Multiple Sclerosis.

Positive

• 67% of stockholders rejected dissident proposals to remove the Board, ensuring stability.
• CEO emphasized commitment to developing groundbreaking therapies.

Negative

• None.

MIAMI BEACH, Fla., Dec. 14, 2022 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), a biotechnology company focused on the discovery, research and development of innovative treatments for central nervous system (CNS) disorders, today announced the final results of the Special Meeting of Stockholders (“Special Meeting”) held on December 9, 2022.

According to the certified voting results provided by the Independent Inspector of Elections, a significant majority of Pasithea stockholders rejected all of the proposals asserted by a dissident group of stockholders. Of the votes cast at the Special Meeting, approximately 67% rejected the proposals to remove the Company’s directors, representing approximately 12.7 million shares or approximately 44% of the total outstanding shares. As a result, the current members of the Company’s Board will continue to serve and oversee Pasithea’s business strategy. The final certified results will be filed on a Form 8-K with the Securities and Exchange Commission.

Dr. Tiago Reis Marques, Pasithea’s Chief Executive Officer, stated, “We thank our stockholders for their support at the Special Meeting and look forward to continue working diligently to develop our product pipeline in an effort to provide groundbreaking therapies for patients and drive value creation for all Pasithea stockholders.”

About Pasithea Therapeutics Corp.

Pasithea Therapeutics is a biotechnology company primarily focused on the discovery, research and development of innovative treatments for central nervous system (CNS) disorders. With an experienced team of experts in the fields of neuroscience and psychopharmacology, Pasithea is developing new molecular entities for the treatment of psychiatric and neurological disorders, including Amyotrophic Lateral Sclerosis (ALS) and Multiple Sclerosis, Neurofibromatosis type 1 and Noonan syndrome.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Company’s filings with the the U.S. Securities and Exchange Commission (the “SEC”). Thus, actual results could be materially different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law. Such forward-looking statements are subject to risks (including those set forth in the Company’s public filings with the SEC) and uncertainties which could cause actual results to differ from the forward-looking statements.

Pasithea Therapeutics Corp. Company Contact

Dr. Tiago Reis Marques
Chief Executive Officer
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Media Contact

Paul Caminiti/Nicholas Leasure
Reevemark
T: 212-433-4600
E: PasitheaTeam@reevemark.com

FAQ

What were the results of Pasithea Therapeutics' Special Meeting on December 9, 2022?

The Special Meeting resulted in approximately 67% of stockholders voting against proposals to remove the Board of Directors.

How many shares represented the stockholders' vote against removing the Board?

The vote against removing the Board represented approximately 12.7 million shares or about 44% of total outstanding shares.

What is the stock symbol for Pasithea Therapeutics?

The stock symbols for Pasithea Therapeutics are KTTA and KTTAW.

Who is the CEO of Pasithea Therapeutics?

The CEO of Pasithea Therapeutics is Dr. Tiago Reis Marques.