Twitter

Link your Twitter Account to Market Wire News


When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.


Be alerted of any news about your stocks and see what other stocks are trending.

home / news releases / KTTA - Pasithea buys Alpha-5 Integrin developer of an antibody for neurodegenerative diseases

KTTA - Pasithea buys Alpha-5 Integrin developer of an antibody for neurodegenerative diseases

Pasithea Therapeutics Corp.
Pasithea Therapeutics (NASDAQ:KTTA) on Wednesday said it had acquired Alpha-5 Integrin LLC, a privately-held preclinical-stage company developing a monoclonal antibody for the treatment of neurodegenerative diseases such as amyotrophic lateral sclerosis and multiple sclerosis. Deal for $3.75M, payable in 3.26M KTTA shares at $1.15/share, which represents a nearly 14% premium to KTTA's closing price on Tuesday, along with 1M warrants. The deal expands the company's pipeline by adding a new drug. Along with the Alpha-5 development program, KTTA will also be acquiring a wet lab and scientific team to develop its existing tolerizing vaccine and complementary program. "Our plan is to file an Alpha-5 investigational new drug application with an orphan drug designation by the end of 2023,” said KTTA CEO Tiago Reis Marques. KTTA stock -2% to $0.99 in early trading.

For further details see:

Pasithea buys Alpha-5 Integrin, developer of an antibody for neurodegenerative diseases
Stock Information
Company Name: Pasithea Therapeutics Corp.
Stock Symbol: KTTA
Market: NASDAQ
Website: pasithea.com
Menu
KTTA KTTA Quote KTTA Short KTTA News KTTA Articles KTTA Message Board
Get KTTA Alerts

News, Short Squeeze, Breakout and More Instantly...