11:38 AM EDT, 05/06/2025 (MT Newswires) -- Pasithea Therapeutics ( KTTA ) said Tuesday it priced a $5 million public offering consisting of nearly 3.6 million common shares, or pre-funded warrants, at $1.40 per share.

The offering includes series C warrants, which expire in five years, and series D warrants, which expire in 18 months, both exercisable at $1.40 per share.

The offering is expected to close around Wednesday, pending the fulfillment of customary closing conditions.

The company plans to use the proceeds for general corporate purposes such as research, clinical trials, technology development, potential acquisitions, and working capital, the company said.

Shares of the biotechnology company rose more than 35% in recent Tuesday trading.

Price: 1.92, Change: +0.50, Percent Change: +35.21