Pasithea Therapeutics Shares Move Higher After Positive Data for Cancer Treatment

Dow Jones09-26

By Chris Wack

Pasithea Therapeutics shares jumped after the company said it saw positive results in data from a trial for PAS-004 for the treatment of neurofibromatosis type 1 and other cancer indications.

Shares of the biotechnology company were up 76% at $6.78, and are down 28% in the past 12 months.

The Phase 1 study showed positive safety, tolerability, pharmacokinetic and preliminary efficacy data from the first two cohorts of patients, being conducted at four clinical sites in the U.S.

The Miami company said plasma exposure increased with an increase in dose, and PAS-004's long half-life of about 70 hours will allow for once-daily dosing or longer intervals.

No treatment-related adverse events or dose-limiting toxicities were observed to date, the company said. In the first two dosing cohorts, PAS-004 was shown to be well-tolerated with a favorable safety profile with no drug-related dose interruptions, reductions or discontinuations.

A study-independent Safety Review Committee has completed its safety review of data from the second dose cohort of 4 mg, and the company has initiated cohort 3 dosing at an increased dose of 8 mg in capsules and has filed a protocol amendment to increase the dosing schedule.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

September 26, 2024 10:20 ET (14:20 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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