Pasithea Therapeutics

Pasithea develops medicines for people with rare genetic diseases and brain disorders. Its main drug candidates aim to help patients with cancer and schizophrenia. The company focuses on treatments where current options are limited or have side effects.

What’s in the Medicine Cabinet?

• PAS-004 (Lead Drug Candidate): Oral treatment in early trials for certain cancers and neurofibromatosis type 1; 0% of revenue (pre-revenue).
• PAS-001 (Discovery Program): Early-stage research for a new schizophrenia medicine; 0% of revenue (pre-revenue).
• Discontinued Programs: ALS (motor neuron disease) research and ketamine clinics ended in 2025; 0% of revenue.

Growth and Expansion: The Road So Far

• Launched PAS-004 clinical trials in the US, Australia, South Korea, and Eastern Europe (2024-2025).
• Announced a $1 million award from the ALS Association for research in 2025, with terms being negotiated.
• Discontinued ketamine clinic operations and ALS program to focus on core drug pipeline (2025).
• Scaled up manufacturing and began new drug formulations for broader patient groups (2025).

What Makes Pasithea Stand Out?

Pasithea targets rare diseases and brain disorders with few treatment options. Its main drug, PAS-004, uses a unique chemical structure for better safety and dosing. The company operates globally with a small team and relies on outside partners for manufacturing and trials.

Five Things You Need to Know

• No revenue in 2025, 2024, or 2023; company is pre-commercial.
• Net loss was $3 million in Q3 2025, down 3.5% from Q3 2024.
• Cash and equivalents were $5 million in Q3 2025, down 3.7% year-on-year.
• Research and development costs rose 10.9% in 2025 due to clinical trials.
• Company raised $59.6 million in new funding in 2025 to support operations.

Bottom Line

Pasithea has shifted from clinics to drug development, focusing on rare and hard-to-treat diseases. The company remains early-stage, with no product sales and ongoing clinical trials.