Pasithea Therapeutics Corp. announced the pricing of a public offering of 80,000,000 shares of common stock at $0.75 per share.
The offering, led by healthcare-dedicated investors like Vivo Capital and Janus Henderson Investors, is expected to raise approximately $60 million.
The company's cash position post-offering will extend its cash runway through at least the first half of 2028.
Public Offering Details
80,000,000 shares of common stock priced at $0.75 per share, led by healthcare investors like Vivo Capital and Janus Henderson.
Company's Cash Position
The offering is expected to raise approximately $60 million, extending the cash runway through at least the first half of 2028.
Use of Proceeds
The net proceeds will be used for general corporate purposes, including ongoing research, clinical trials, and development of new technologies.
- The public offering is a strategic move to secure funds for the company's ongoing research and clinical trials.
- With the extension of the cash runway, Pasithea Therapeutics can focus on the development of PAS-004 and other potential treatments.
- The involvement of prominent healthcare investors indicates confidence in the company's future prospects.
Pasithea Therapeutics' successful pricing of the public offering demonstrates investor confidence in the company's potential for growth and development in the biotechnology sector.