Pasithea warrants to expire on September 17, 2026

Pasithea Therapeutics Corp. (Nasdaq: KTTA) said in a current report filed on September 16, 2026 that its warrants will expire on September 17, 2026. The warrants trade on The Nasdaq Capital Market under the symbol KTTAW. The filing says warrants that are not exercised before expiration will cease to be exercisable and will be of no further value.

The expiration and the delisting

The warrants were issued under a Warrant Agency Agreement between the company and VStock Transfer, LLC, which acts as warrant agent. Once the warrants expire, they will cease trading on Nasdaq. The company said a Notification of Removal from Listing and Registration under Section 12(b) of the Securities Exchange Act of 1934, filed on Form 25, will be filed with the Securities and Exchange Commission to delist the warrants and deregister them under Section 12(b).

The common stock is not part of this step. The company said it will continue to trade on Nasdaq under the symbol KTTA. The report was signed by Tiago Reis Marques, the company's chief executive officer.

The company and its lead program

Pasithea describes itself as a clinical-stage biotechnology company focused on RASopathies, tumors driven by the MAPK pathway, and other diseases, including central nervous system disorders. Its lead product candidate is PAS-004, a macrocyclic inhibitor of MEK 1 and 2, which are protein kinases in the MAPK signaling cascade. The annual report lists potential uses for PAS-004 in neurofibromatosis type 1, in tumors with BRAFv600 mutations and BRAF fusions, and in amyotrophic lateral sclerosis, along with inflammatory bowel disease, primary sclerosing cholangitis and ankylosing spondylitis.

The company says the macrocyclic structure was designed to improve selectivity, oral bioavailability and metabolic stability compared with currently approved MEK inhibitors, which it describes as having known toxicities and high rates of adverse events. The annual report also says the ultimate safety and efficacy profile of PAS-004 will require clinical testing to be completed.

The FDA cleared the investigational new drug application in December 2023. The first-in-human study, called the FIH Phase 1 Advanced Cancer Study, has a primary objective of assessing safety and tolerability when PAS-004 is given as a single dose and in multiple 28-day treatment cycles. The annual report says dose escalation had reached cohort 8 (45 mg capsule), with a total of 34 patients receiving PAS-004. The study runs at four clinical sites in the U.S. and three in Eastern Europe, and the company expects to complete it in 2028.

Financial position

The XBRL financial data for the 2025 fiscal year show research and development expense of $8.0 million, compared with $7.2 million in 2024. The net loss was $20.4 million in 2025, compared with $13.9 million in 2024. Cash from operations was negative $15.2 million in 2025 and negative $13.9 million in 2024.

Year-end cash and cash equivalents were $6.9 million at the end of 2024. The XBRL data also cites a 10-Q filed August 14, 2026, which reports year-end 2025 cash and cash equivalents of $55.2 million and $45.7 million at June 30, 2026.

The risks ahead

Warrant holders who do not exercise before expiration are left with nothing, and the filing gives no other dates for the company's warrant plans. Pasithea is still a clinical-stage company with no approved product. Its annual report says the final safety and efficacy profile of PAS-004 depends on clinical testing still to be completed, and it expects the advanced cancer study to finish in 2028. The company reported a net loss of $20.4 million for 2025 and negative operating cash flow of $15.2 million. Cash and cash equivalents were $45.7 million at June 30, 2026, against $55.2 million at year-end 2025.

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