Pasithea Therapeutics (KTTA) investor relations material

Executive summary

• Focused on developing PAS-004, a next-generation MEK inhibitor for RASopathies and MAPK pathway-driven tumors, with ongoing Phase 1 trials in advanced cancer and neurofibromatosis type 1 (NF1) at multiple global sites.

• Discontinued PAS-003 program for ALS; PAS-001 remains in discovery for schizophrenia.

• No product revenue; operations funded by equity and warrant offerings.

Financial highlights

• Net loss for Q1 2026 was $2.87 million, a 19.5% improvement year-over-year from $3.56 million in Q1 2025.

• Research and development expenses rose 70.1% to $2.94 million, driven by increased clinical and CMC costs.

• General and administrative expenses decreased slightly by 0.8% to $1.93 million.

• Other income, net, increased by $1.89 million, mainly due to a favorable change in fair value of warrant liabilities and higher interest income.

• Cash and cash equivalents were $50.4 million as of March 31, 2026, down from $55.2 million at year-end 2025.

Outlook and guidance

• Cash and equivalents expected to fund operations for at least 12 months from the reporting date.

• Anticipates continued increase in R&D expenses due to ongoing and expanded clinical trials for PAS-004.

• General and administrative expenses expected to decrease in 2026, offset by higher operational and stock-based compensation costs.

• Inflation expected to negatively impact costs throughout 2026.