In a recent transaction, Tiago Marques, the Chief Executive Officer of Pasithea Therapeutics Corp. (NASDAQ:KTTA), sold 960 shares of the company’s common stock. The shares were sold at a price of $0.825 each, totaling $792. This transaction took place on May 12, 2025. The sale comes as the company, currently valued at $5.2 million, trades below its InvestingPro Fair Value, suggesting potential undervaluation despite its recent stock decline of over 70% in the past six months.
According to the filing, Marques previously held these shares in a foreign brokerage account that was recently closed. Consequently, the foreign broker automatically liquidated his account by selling the shares on a non-discretionary basis. InvestingPro data shows the company maintains strong liquidity with a current ratio of 6.58, indicating robust short-term financial health. Subscribers can access 8 additional key insights about KTTA’s financial position.
Following this sale, Marques still holds 40,001 shares of Pasithea Therapeutics. The company had previously implemented a 1-for-20 reverse stock split on January 2, 2024, which adjusted the number of shares reported. The stock currently trades at $0.95, significantly below its 52-week high of $7.50.
In other recent news, Pasithea Therapeutics Corp. has reported promising interim data from its Phase 1 trial of the cancer drug PAS-004. The drug is being tested for its effectiveness in treating advanced cancers driven by the MAPK pathway. The trial has shown that PAS-004 can inhibit ERK phosphorylation by up to 91% at an 8mg dose, indicating strong target engagement. Additionally, one patient with stage 4 KRAS G12R-mutated pancreatic cancer experienced a tumor volume reduction of 9.8% over five months of treatment. Pasithea has also received approval from its external Safety Review Committee to advance the trial to a 30mg capsule dosage, following a review of safety data that showed no dose-limiting toxicities or instances of rash. The ongoing trial aims to evaluate the safety, tolerability, and preliminary efficacy of PAS-004 in patients with advanced solid tumors. Pasithea’s CEO, Dr. Tiago Reis Marques, highlighted the absence of rash, a common side effect with other MEK inhibitors, as a positive outcome. The company anticipates releasing additional safety, pharmacokinetic, and pharmacodynamic data in the coming weeks.
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