Pasithea Therapeutics Corp. - KTTA STOCK NEWS

Camac Partners, LLC and affiliates, being the largest stockholder of Pasithea Therapeutics Corp. (NASDAQ: KTTA), are urging the company to schedule a Special Meeting for stockholders to vote on removing the current Board of Directors. The group expresses disappointment in the Board's decision-making and lack of engagement, highlighting an 83% decline in stock price since the IPO. They believe that new leadership could enhance corporate governance and capital allocation, ultimately generating long-term shareholder value.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has appointed Alfred J. Novak to its Board of Directors, replacing Dr. Yassine Bendiabdallah, who stepped down on September 14, 2022. Mr. Novak brings over 30 years of experience in life sciences, with a history of significant financial transactions and successful exits, including Dova Pharmaceuticals and Biosense. Chairman Lawrence Steinman expressed enthusiasm for Mr. Novak's contributions toward advancing Pasithea's drug candidates. The company specializes in developing treatments for CNS disorders and providing ketamine infusion services.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) has appointed Dr. Merit Cudkowicz to its Scientific Advisory Board, bringing extensive expertise in ALS and neurological diseases. Dr. Cudkowicz, Chief of Neurology at Massachusetts General Hospital, has significantly advanced ALS research and clinical trials. Her collaboration is expected to enhance Pasithea's development of its monoclonal antibody targeting alpha-5/beta-1 integrin, which shows promising preclinical efficacy. Dr. Cudkowicz’s insights are poised to drive innovation in treatment approaches for ALS.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) announced that CEO Dr. Tiago Reis Marques will present virtually at the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022. The presentation is scheduled for September 12, 2022, at 7:00 AM ET. Attendees can request virtual one-on-one meetings through H.C. Wainwright. A pre-recorded presentation will also be available on the Company’s website. Pasithea focuses on researching treatments for psychiatric and neurological disorders, including IV ketamine infusions for patients in clinical and home settings.

Camac Partners, LLC, along with affiliates of Concord Investment Partners Ltd. and Leonite Capital LLC, have gained support from fellow stockholders of Pasithea Therapeutics Corp. (KTTA) to call a Special Meeting. The Investor Group is pushing for the removal of all current directors to enhance corporate governance and improve capital allocation. The group is prepared to petition the Delaware Court of Chancery if necessary, emphasizing the urgency for change and a commitment to value creation for shareholders.

The Investor Group comprising Camac Partners, Concord Investment Partners, and Leonite Capital, significant stockholders of Pasithea Therapeutics Corp. (NASDAQ: KTTA), announced their intention to call a Special Meeting of Stockholders. Their motivation is a lack of confidence in the current Board of Directors, which they believe is mismanaging investor capital. The group urges fellow shareholders to support their initiative by returning proxy cards promptly, emphasizing that every vote is crucial for their efforts to succeed.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) will present preclinical results of its DNA vaccine, PAS002, targeting multiple sclerosis at the conference 'From Laboratory to Clinic: Medicine after COVID' on August 30, 2022, at Trinity College, Oxford University. The conference, established in 1984, unites researchers to share advancements in immunology and molecular medicine. CEO Dr. Tiago Reis Marques expressed optimism about the findings contributing to new treatments for neurological disorders. The keynote will be delivered by Professor Lawrence Steinman, along with other leading experts in the field.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) announced positive results from a preclinical study of its tolerizing vaccine, PAS002, targeting multiple sclerosis (MS). The study involved a mouse model of relapsing-remitting experimental autoimmune encephalomyelitis, demonstrating significant efficacy in reducing disease severity and relapse rates (p<0.001). Key findings include delays in paralysis onset and a 50% prevention rate of disease. PAS002 leverages the GlialCAM protein, which also relates to monkeypox virus, potentially expanding its therapeutic applications. The company has filed a provisional patent and aims for rapid development.

Camac Partners, LLC and affiliates have called for a Special Meeting of stockholders at Pasithea Therapeutics (NASDAQ: KTTA) to remove the current Board of Directors. They cite a loss of over 80% in stock value since its IPO, attributing this decline to dilutive acquisitions and insider transactions that favor the Board at the expense of shareholders. The stock has plummeted from $5.00 to $0.86 per share, highlighting ineffective management. The Investor Group urges fellow stockholders to act quickly to protect their investments.