Pasithea Therapeutics: Buy Rating on Differentiated PAS-004, 2026 Clinical Catalysts, and Strengthened Cash Runway

Analyst Sara Nik of H.C. Wainwright reiterated a Buy rating on Pasithea Therapeutics Corp, retaining the price target of $3.00.

Sara Nik has given his Buy rating due to a combination of factors related to Pasithea’s lead asset, PAS-004, and the company’s strengthened financial position. He highlights that PAS-004 is emerging as a potentially differentiated, next-generation oral MEK inhibitor for neurofibromatosis type 1-associated plexiform neurofibromas, supported by early data suggesting best-in-class potential. The 2026 clinical plan includes multiple data releases from both the NF1-PN and advanced cancer studies, which he views as meaningful value-creating events for investors. In particular, the completion of enrollment in the NF1-PN Phase 1/1b trial and the planned six‑month efficacy, safety, and pharmacokinetic readout in the second half of 2026 provide clear clinical inflection points.

In addition, Sara Nik notes that longer-term follow-up data from the ongoing advanced cancer study, expected in the second quarter of 2026, should further clarify the safety and efficacy profile of PAS-004 at higher dose levels. He believes the company’s recent $60 million capital raise, which extends cash runway into the first half of 2028, gives Pasithea sufficient resources to execute these trials without near-term financing pressure. The combination of robust upcoming news flow, potential clinical differentiation of PAS-004, and a solid balance sheet leads him to view the current share price as an attractive entry point. These elements together underpin his Buy rating on Pasithea Therapeutics Corp.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KTTA in relation to earlier this year.