Iryna Drozd
Pasithea Therapeutics (NASDAQ:KTTA) conducted a 1-for-20 reverse stock split early Tuesday and announced that the FDA has cleared its application to begin Phase 1 testing for its oncology drug candidate PAS-004.
Pasithea disclosed the reverse stock split in an SEC filing made on Dec 28. The split-adjusted shares are expected to begin trading at market open on Tuesday, Jan. 2.
The biotech company also announced that the FDA had accepted its Investigational New Drug application for PAS-004.
Pasithea plans to dose its first patient in a Phase 1 dose escalation study for the product in Q1. The study will be evaluating the drug in patients with MAPK pathway driven advanced solid tumors.