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Nasdaq Biotech Idea (KTTA) Is Cooking This AM, Trending Green And Hitting A New 3-Week High

November 18th

Good Morning,

KTTA has been surging this morning.

Picking up steam during pre-market hours, KTTA is trending green early and up approximately % at the moment.

At the same time, KTTA has now hit a new 3-week high and could be on the verge of breaking down potential resistance at the $3.00 level.

This major surge today is on the heels of the company making this announcement yesterday:

Pasithea Therapeutics Launches In-Home Intravenous Ket-a-mine Therapy in Major U.S. Cities, Expanding its International Footprint

With the launching of these mobile clinics in the U.S., it could be a significant game-changer for the company moving forward.

And, though there isn't a bunch of chart and technical info on this profile at the moment, it is trading above 4 key lines of potential support including its:

• 5-Day Simple Moving Average (SMA)
• 20-Day SMA
• 5-Day Exponential Moving Average (EMA)
• 13-Day EMA

If more potential support continues to build at these levels, they could become building blocks towards a possible vertical move for KTTA short term.

Take a moment and read the full KTTA report below now and get it on your radar quickly.

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Scientists say they have figured out how an experimental dr-ug called ket-a-mine is able to relieve major depression in hours instead of weeks.(1)

Researchers from Yale and the National Institute of Mental Health say ket-a-mine seems to cause a burst of new connections to form between nerve cells in parts of the brain involved in emotion and mood.

The discovery, described in Science, should speed development of the first truly new depression dr-ugs since the 1970s, the researchers say.

"It's exciting," says Ron Duman, a psychiatrist and neurobiologist at Yale University. "The hope is that this new information about ket-a-mine is really going to provide a whole array of new targets that can be developed that ultimately provide a much better way of treating depression."

Now, here's the crazy part...

The psych-e-delic dr-ugs market is expected to grow at a robust rate of 14.5% CAGR during the forecast period and reach a value of $6.3Bn in 2026 from $3.2Bn in 2021 as there is a large unmet need for treatment.

Now with the potential for this market, I've been following a few companies closely and have found one that might not fly under Wall Street's radar for much longer.

Today I want you to get this new Nasdaq Biotech idea on your radar:

*Pasithea Therapeutics Corp. (KTTA)*

Pasithea Therapeutics Corporation is a U.S. biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders.

Pasithea is focused on addressing the needs of patients currently suffering with mental illness by providing access to IV ket-a-mine infusions both in clinics and in-home settings.

Why Ket-a-mine?

Ket-a-mine is a U.S. Food and Dr-ug Administration (“FDA”) approved dr-ug introduced to the medical community as an anesthetic more than 50 years ago.

It has recently been repurposed for the treatment of psychiatric disorders using significantly lower doses than in anesthesia and is now gaining ground as a promising treatment for mental health disorders.

In certain psychiatric conditions, such as treatment-resistant depression (“TRD”) and post-traumatic stress disorder (“PTSD”), it has shown remarkable efficacy and a rapid and sustained effect, and up to 70% of those who receive this treatment can eventually show a clinical response.

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#1 GAME-CHANGING POTENTIAL CATALYST - WEDNESDAY'S HUGE NEWS

As this news continues to circulate in the days ahead, it could become a huge catalyst for a potential vertical move.

Here's what you need to know:

Pasithea Therapeutics Launches In-Home Intravenous Ket-a-mine Therapy in Major U.S. Cities, Expanding its International Footprint

-- Pasithea Clinics to offer ket-a-mine infusion therapy for the treatment of mental health disorders --

-- First mobile clinics launch in New York City, Los Angeles, San Diego, and San Francisco, with expansion to additional U.S. cities in coming months --

-- Treatments conducted by board-certified medical professionals --

MIAMI BEACH, Fla., Nov. 17, 2021 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), a novel biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders, today announced that its wholly owned subsidiary, Pasithea Clinics, commenced clinical operations, offering in-home intravenous (“IV”) ket-a-mine therapy to patients suffering from treatment-resistant mental health issues. Initially, the treatment will be offered in New York City, Los Angeles, San Diego, and San Francisco and will expand nationwide in the coming months.

“The need for more effective treatment options for patients with mental health disorders has never been greater. Ket-a-mine, when used at sub-anesthetic doses, has been shown to be highly effective in treating some psychiatric disorders. Still, we need to broaden access to this treatment to a larger patient population in a safe and convenient way. Through our mobile clinics, patients benefit from receiving the ket-a-mine therapy in the privacy and comfort of their own homes. With patient safety as our top priority, all ket-a-mine treatments will be delivered by board-certified medical professionals. This launch is an important stepping stone in expanding our international footprint in this space,” stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.

Patients with mental health disorders often struggle to complete day-to-day activities, and even small tasks can take extra effort. In disorders such as depression and post-traumatic stress disorder, symptoms such as fatigue, social isolation, lack of motivation, and high levels of anxiety are frequent. The effort to go to a physical clinic can be overwhelming. By providing this treatment at the patient’s home, Pasithea aims to broaden access to this important therapy.

“We are pleased to commence our U.S. rollout in major cities in New York and California, with plans to scale our business in other cities over the coming months. Although ket-a-mine is a very safe dr-ug to administer, there are still some risks. Patient safety is of paramount importance, and we are providing a network of highly trained medical professionals to administer this treatment in the comfort of the patient´s home. Our medical team ensures that our patients receive state-of-the-art support throughout their treatment experience. We believe we can become the best-in-class and largest provider of IV ket-a-mine treatments in the United States. We will use our at-home model to expand our reach in the U.S. in a fast and accessible way,” said Dr. Adam Nadelson, Managing Director of Pasithea Clinics in the United States.

[...]

Read the full article here.

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No. 2 KTTA Potential Catalyst - Low Float Profile

According to the Finviz.com website, KTTA has a low float.

The website reports this profile to have approximately 5.42Mn shares in its float.

Why is that important? It's important on one crucial level. Volatility.

With so few shares available for trading, other potential catalysts (like big news) could spark a vertical move in the short-term.

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No. 3 KTTA Potential Catalyst - Launching Of New UK Clinic

Pasithea Therapeutics Launches First Ket-a-mine Clinic In The UK

Pasithea Therapeutics Corp. (NASDAQ: KTTA), a company in the psych-e-delics space, will launch its first U.K.-based ket-a-mine infusion clinic.

The company went public with a $24Mn IPO in the Nasdaq last month and is focused on research and discovery of new and effective treatments for psychiatric and neurological disorders.

What To Know: For the launch of its first U.K. clinic, Pasithea’s wholly-owned subsidiary, Pasithea Clinics, has partnered with ZEN Healthcare to offer intravenous ket-a-mine therapy to patients suffering from treatment-resistant mental health disorders.

The treatment will initially be offered in Knightsbridge, London, and is set to launch in October.

“We believe we can become the best-in-class provider of IV ket-a-mine treatments,” said Dr. Yassine Bendiabdallah, managing director of Pasithea Clinics in the U.K.

Why It's Important: Ket-a-mine, an FDA-approved anesthetic, has become widely used in an off-label capacity for the rapid treatment of depression symptoms. As scientists debate whether the dr-ug fits the category of a psych-e-delic substance, a number of for-profit actors are offering it as an alternative mental health treatment, showcasing very positive results.

[...]

“Evidence from dozens of trials over the past two decades consistently supports the efficacy of ket-a-mine in improving symptoms in some mental health disorders. We are thrilled to be able to provide this new treatment approach in the UK for those patients who are deemed eligible to receive it,” said Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.

“We look forward to growing our specialty clinics network while we simultaneously progress with our dr-ug development program to move the needle forward for better mental health care,” Marques concluded.

Read the full article here.

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Pasithea Clinics - More Key Details

No. 4 KTTA Potential Catalyst - Major News On The Treatment Front

Pasithea Therapeutics Announces Successful Treatment of First Patients in the UK with Ket-a-mine Infusion Therapy

– Pasithea Clinics commences IV ket-a-mine infusion therapy in Knightsbridge, London, for the treatment of mental health disorders –

MIAMI BEACH, Fla., Oct. 27, 2021 (GLOBE NEWSWIRE) -- Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), a novel biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders, today announced that Pasithea Clinics, its wholly owned subsidiary, has administered intravenous (“IV”) ket-a-mine therapy to its first patients. In sub-anesthetic doses, ket-a-mine has shown to be highly effective at treating some psychiatric disorders, such as treatment-resistant depression and post-traumatic stress disorder.

“With major depression the leading cause of long-term disability worldwide and mental health cases on the rise, new therapies are urgently needed for patients who do not respond to traditional treatments. Today, we are thrilled to announce that we administered our first IV ket-a-mine infusion therapy to patients with treatment-resistant depression,” stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.

“This is a significant milestone for Pasithea Clinics and for patients in the U.K. suffering with mental health conditions. Decades of evidence supports the efficacy of ket-a-mine in improving symptoms for some mental health disorders, and studies have shown that up to 70% of those who receive IV ket-a-mine treatment will eventually show a clinical response. We are excited to continue providing treatment to patients deemed eligible to receive it,” concluded Dr. Reis Marques.

[...]

Read the full article here.

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No. 5 KTTA Potential Catalyst - Pasithea Contacts Leading Dr-ug Development Company To Advance Dr-ug Candidate

Pasithea Therapeutics Corp. and Evotec SE Enter into Dr-ug Development Agreement

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

-- Company contracts leading global dr-ug development company to advance initial dr-ug candidate --

Miami Beach, FL / October 11, 2021 -- Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), a biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders, today announced the initiation of a new chemical entity (“NCE”) development program and named Evotec as its NCE research partner.

“We are delighted to be working with Evotec, one of the largest and most well-respected dr-ug discovery and development companies in the world, to progress our first compound. This is a significant step on our dr-ug development path to ultimately develop new molecular entities to improve the lives of those suffering with brain disorders. Pasithea aims to advance small molecule therapeutics with a focus on a specific neuroinflammatory pathway implicated in the neurobiology of depression and schizophrenia,” stated Dr. Tiago Reis Marques, Chief Executive Officer of Pasithea Therapeutics.

“Evotec has a proven track record of adding value to its partners’ research by providing innovative and flexible solutions from target compound through to preclinical candidate. This is an important initial step forward for our program, and we believe that Evotec’s high-quality science and scientific execution will expedite and increase the chances of progressing our dr-ug candidate to the clinic,” stated Prof. Lawrence Steinman, Chairman of Pasithea Therapeutics.

“Pasithea is pursuing an exciting approach to target the improvement of mental health,” stated Christophe Muller, PhD, Global Head of Business Development, Evotec SE. “With our fully integrated suite of the highest quality capabilities, Evotec is uniquely equipped to facilitate the discovery and development of innovative programmes to the clinic and beyond. We are delighted to support Pasithea in addressing the very important area of mental health and look forward to working closely with the team to assist them in reaching their goal of tackling brain disorders.”

Read the full article here.

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Nasdaq Biotech Recap: Important KTTA Details To Know Now

No. 1 - Pasithea Therapeutics Launches In-Home Intravenous Ket-a-mine Therapy in Major U.S. Cities

No. 2 - Low Float Profile

No. 3 - Launching Of New UK Clinic

No. 4 - Major News On The Treatment Front

No. 5 - Pasithea Contacts Leading Dr-ug Development Company To Advance Dr-ug Candidate

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Coverage is officially initiated on KTTA. When you have time later, do this:

If there are any more updates today, I'll get them out to you quickly.

Sincerely,

Kai Parker

StockWireNews

Source 1

Company Website

(Always Remember The Stock Prices Could Be Significantly Lower Now From The Dates I Provided.)