Pasithea Therapeutics Corp.

Listed Company

KTTACIK 0001841330NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-20.43M

Total Assets

$60.24M

Equity

$55.22M

Shares Out

24.94M

Op. Cash Flow

$-15.21M

Business

Pasithea Therapeutics Corp. is a clinical-stage biotechnology company focused on discovering, researching and developing novel treatments for central nervous system disorders, RASopathies and certain cancers. It advances a pipeline of therapeutic product candidates, led by PAS-004, a macrocyclic MEK 1/2 inhibitor, plus PAS-003, a humanized monoclonal antibody for ALS, and PAS-001, a brain-penetrant small molecule targeting C4A for schizophrenia. The company reports a single Therapeutics segment centered on R&D and clinical development. It conducts clinical trials across the U.S., Eastern Europe, Australia and South Korea and relies on third-party contract manufacturing organizations and CROs for production and trial execution.

Summary from filing dated 2025-03-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
General and administrative	13	7	—	—	—
Research and development	8	7	8	3	—
Loss from operations	−21	−14	−16	−13	−5
Change in fair value of warrant liabilities	115,301	−77,806	56,245	2	2
Realized foreign currency translation loss from dissolution of subsidiaries	−7,171	—	—	—	—
Foreign currency gain	30,376	—	—	—	—
Other income	380,532	—	—	—	—
Change in fair value of derivative warrant liability	−416,619	—	—	—	—
Interest and dividends, net	327,193	423,184	415,368	—	—
Other income, net	429,612	345,378	471,613	—	2
Loss before income taxes	−20	−14	−16	−12	−2
Provision for income taxes	—	—	—	—	—
Net loss	−20	−14	−16	−14	−2
Weighted-average common shares outstanding, basic (in Shares)	7	1	1	1	10
Weighted-average common shares outstanding, diluted (in Shares)	7	1	1	1	10
Basic loss per share (in Dollars per share)	−2.91	−12.69	—	−0.55	−0.21
Diluted loss per share (in Dollars per share)	−2.91	−12.69	—	−0.53	−0.21
Foreign currency translation	18,766	−2,519	−3,991	9,900	−10,561
Comprehensive loss	−20	−14	−16	−14	−2

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	55	7	16	33	53
Restricted cash	100,866	—	—	—	—
Prepaid expenses	811,456	302,641	215,895	562,375	333,751
Other current assets	387,823	142,945	104,707	262,992	—
Total current assets	56	7	17	34	53
Property and equipment, net	—	122,343	141,208	125,197	20,124
Intangibles, net	4	7	—	—	—
Goodwill	—	1	1	1	—
Total assets	60	16	26	45	53
Accounts payable and accrued liabilities	1	1	3	1	447,280
Warrant liabilities Placement Agent Warrants	4	—	—	—	—
Total current liabilities	5	1	3	2	447,280
Warrant liabilities	46,871	162,172	84,366	140,611	—
Total non-current liabilities	46,871	162,172	84,366	804,207	1
Total liabilities	5	1	3	3	2
Preferred stock, par value $0.0001 per share, 5,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2025 and December 31, 2024	—	—	—	—	—
Common stock, par value $0.0001 per share, 100,000,000 shares authorized; 23,091,062 shares and 1,394,263 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	2,309	139	104	130	17,684
Additional paid-in capital	125	64	59	62	54
Accumulated other comprehensive income (loss)	18,766	−7,171	−4,652	−661	−10,561
Accumulated deficit	−70	−50	−35	−19	−2
Total stockholders equity	55	15	23	42	51
Total liabilities and stockholders equity	60	16	26	45	53

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	32,000	19,000	18,290	5,094	1,379
Amortization expense	630,164	630,164	630,164	—	—
Stock-based compensation	297,467	773,693	592,269	835,064	471,250
Impairment expense	4	—	—	—	—
Realized foreign currency translation loss from dissolution of subsidiaries	7,171	—	—	—	—
Loss on asset disposal	103,322	—	—	—	—
Prepaid expenses	−60,536	−86,746	346,480	−181,374	−329,443
Other current assets	−269,278	2,262	—	—	—
Accounts payable and accrued liabilities	11,233	−1	1	745,759	440,677
Lease liabilities	—	−2,409	−1,547	543,956	440,677
Net cash used in operating activities	−15	−14	—	−15	−3
Proceeds from the sale of equipment	11,000	—	109,500	—	—
Net cash provided by investing activities	11,000	—	—	−2	−21,503
Payments on financed director and officer insurance	−448,279	—	—	—	—
Proceeds from issuance of common stock under ATM agreement, net of fees and offering costs	2	—	—	—	1
Proceeds from issuance of common stock from the exercise of pre-funded warrants, net	871	349	—	—	—
Proceeds from May 2025 public offering of common stock, net	4	—	—	—	5
Proceeds from December 2025 public offering of common stock, net	55	—	—	—	—
Issuance of common stock from the exercise of warrants, net	2	—	—	—	7
Proceeds from September 2024 offering of pre-funded and common warrants, net	—	5	—	—	—
Net cash provided by financing activities	64	5	—	−3	56
Effect of foreign currency translation on cash	18,766	−2,519	−3,991	—	—
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	48	−9	−17	−20	53
Cash paid for interest	13,212	—	—	—	—
Cash paid for taxes	—	—	—	—	—
Dividend - warrant modification	—	−359,656	—	—	—

Filings

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