08:34 AM EDT, 03/11/2025 (MT Newswires) -- PharmaTher Holdings ( PHRRF ) , a specialty pharmaceutical company that says it is "hyper-focused" on the commercialization of Ketamine, on Tuesday said that its New Drug Application for Ketamine has met the criteria for priority review and assigned an approval goal date of June 4, by the U.S. Food & Drug Administration.

Ketamine, an essential medicine used for anaesthesia and pain relief, has been on the FDA's drug shortage list since February 2018. This is believed to have encouraged the widespread availability of compounded Ketamine products, the statement said. The agency is expected to restrict compound pharmacies from supplying Ketamine, opening the door for PharmaTher ( PHRRF ) to fill the demand gap in the U.S. market, it said.