Pasithea Therapeutics Reports Q2 2025 Financial Results with Reduced Net Loss

Pasithea Therapeutics Corp. reported its financial results for the second quarter of 2025, revealing a net loss of $3.7 million, a decrease from a net loss of $3.9 million in the same period of 2024. For the first half of 2025, the company recorded a net loss of $7.3 million, compared to $7.7 million for the first half of 2024. The reduction in losses was attributed to a decrease in operating expenses, particularly in research and development, which fell by 9% to $2.1 million for the second quarter and by 6% to $3.9 million for the first half of the year. General and administrative expenses increased slightly by 4.7% for the quarter but decreased by 6.9% for the six-month period.

The company’s total current assets rose to approximately $8.6 million as of June 30, 2025, up from $7.4 million at the end of 2024. This increase was primarily driven by cash generated from a public offering in May 2025, which raised approximately $4.2 million. Pasithea's working capital also improved to about $6.9 million, reflecting a stronger liquidity position. However, the company continues to face challenges, including an accumulated deficit of $56.9 million and ongoing reliance on external funding to support its operations and development plans.

In terms of strategic developments, Pasithea has made significant progress in its clinical trials. The company is currently conducting a Phase 1 multicenter, open-label, dose escalation trial of its lead product candidate, PAS-004, targeting MAPK pathway-driven advanced tumors. Additionally, a Phase 1/1b trial for PAS-004 in patients with neurofibromatosis type 1 (NF1) was initiated in May 2025, with plans to expand the trial to multiple sites across Australia, South Korea, and the United States.

Operationally, Pasithea has seen an increase in its employee headcount, reflecting its ongoing commitment to advancing its clinical programs. The company is focused on expanding its research and development capabilities, particularly in the areas of CNS disorders and RASopathies. Despite the positive developments, management has indicated that the company will need to secure additional funding to continue its operations and meet its financial obligations over the next twelve months.

Looking ahead, Pasithea remains optimistic about its clinical programs and the potential for future revenue generation. However, the company acknowledges the inherent risks associated with drug development and the need for substantial capital to support its ongoing research and commercialization efforts. The management has expressed a commitment to exploring various funding avenues, including equity and debt financing, to ensure the continuation of its development plans.