Pasithea Therapeutics Stock Soars After Positive Data From Cancer Drug Trial: Retail’s Elated

Shares of Pasithea Therapeutics Corp. (KTTA) soared as high as about 150% on Tuesday morning before paring back most of the gains after it announced positive data from its ongoing Phase 1 trial of PAS-004 in advanced cancer patients.

PAS-004 is a next-generation macrocyclic MEK inhibitor for the treatment of neurofibromatosis type 1 (NF1) and other mitogen-activated protein kinase (MAPK) pathway driven cancer indications.

The clinical-stage biotechnology company said that several patients achieved stable disease and tumor shrinkage while on the treatment.

A patient being treated with 15-milligram capsules of PAS-004 with stage 4 pancreatic cancer achieved a tumor volume reduction of 9.8% over 5 months of PAS-004 treatment, the company said. The patients currently remain in the study, it added.

Certain biomarkers also confirmed the capsule’s MEK inhibitor activity and substantial target engagement, the company said.

The Phase 1 trial is aimed at evaluating the safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary efficacy of PAS-004 in patients with MAPK pathway-driven advanced solid tumors.

The recently announced data include results from patients treated with 8mg, 15mg, and 4mg tablets of PAS-004.

In April, the company also dosed three subjects with 30mg capsules of PAS-004.

The company then said it expects to complete enrollment of all patients in the trial by the end of 2025.

On Stocktwits, retail sentiment around Pasithea jumped from ‘bearish’ to ‘extremely bullish’ territory over the past 24 hours while message volume rose from ‘extremely low’ to ‘extremely high’ levels.

KTTA stock is down by about 42% this year and by about 76% over the past 12 months. 

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