KTTA - Pasithea jumps 21% on animal data for multiple sclerosis candidate

Nano-cap biotech Pasithea Therapeutics ( NASDAQ: KTTA ) climbed ~21% in the pre-market Thursday after the company announced the proof of concept data for its multiple sclerosis vaccine program PAS002 using an animal model.

Multiple sclerosis is an autoimmune disease and the most common neurodegenerative disease. PAS002 is designed as a DNA plasmid to tolerize the immune system to GlialCAM, a molecule found in the brain’s white matter that comes under attack in MS.

In a study conducted at Hooke Laboratories, an independent Contract Research Organization, three groups in a mouse model with MS were injected with a DNA compound to encode GlialCAM.

The company said the engineered DNA molecule, which works like an ‘inverse vaccine,” delayed the onset of paralysis in MS compared to vehicle (p<0.001).

Other findings highlight a statistically significant decline in disease severity compared to the vehicle (p=0.002).

“Although early stage, we believe these results demonstrate the promise and validity of our tolerizing approach….” the Chief Executive of Pasithea ( KTTA ), Dr. Tiago Reis Marques, remarked. Dr. Marques added that the company has filed a provisional patent application and will swiftly advance the PAS002 program.

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