---
title: "Pasithea Therapeutics | 10-K: FY2025 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281080649.md"
datetime: "2026-03-30T21:47:43.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281080649.md)
  - [en](https://longbridge.com/en/news/281080649.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281080649.md)
---

# Pasithea Therapeutics | 10-K: FY2025 Revenue: USD 0

Revenue: As of FY2025, the actual value is USD 0.

EPS: As of FY2025, the actual value is USD -2.91.

Pasithea Therapeutics Corp. has not generated material revenue from product sales and has incurred losses since its formation, with no segment-specific financial or operational metrics provided in the report .

#### Net Losses

Pasithea Therapeutics Corp. reported net losses of - $20.4 million for the year ended December 31, 2025, an increase compared to - $13.9 million for the year ended December 31, 2024 . As of December 31, 2025, the accumulated deficit was approximately - $70.0 million .

#### Operating Expenses

General and administrative expenses increased by approximately $5,825,000, or 82.6%, for the year ended December 31, 2025, compared to the year ended December 31, 2024 . This rise was primarily due to a $4,163,000 increase in impairment expense of intangible assets and goodwill, and a $1,652,000 increase in personnel costs, partially offset by decreases in stock-based compensation, legal expenses, insurance costs, and board fees . Research and development expenses increased by approximately $783,000, or 10.9%, for the year ended December 31, 2025, compared to the year ended December 31, 2024, mainly driven by a $2,397,000 increase in clinical trial and regulatory expenses and a $564,000 increase in CMC expenses .

#### Other Income, Net

Other income, net increased by approximately $84,000, or 24.4%, for the year ended December 31, 2025, compared to the year ended December 31, 2024 . This increase was primarily due to a $193,000 increase in the fair value of IPO warrant liabilities, a $30,000 increase in foreign currency gain, and a $381,000 increase in other income, which included a $337,000 research and development tax credit .

#### Working Capital

Working capital increased by $45.2 million, from $6,248,444 as of December 31, 2024, to $51,485,123 as of December 31, 2025 . Current assets were $56,459,084 in 2025 and $7,368,315 in 2024, while current liabilities were $4,973,961 in 2025 and $1,119,871 in 2024 .

#### Cash Flow

Net cash used in operating activities was - $15,211,490 for the year ended December 31, 2025, compared to - $13,923,438 for the year ended December 31, 2024 . Net cash provided by investing activities was $11,000 in 2025, compared to $0 in 2024 . Net cash provided by financing activities was $63,518,800 for the year ended December 31, 2025, significantly higher than $4,517,634 in 2024 . Cash, cash equivalents, and restricted cash increased by approximately $48.3 million in 2025, reaching $55,259,805 at year-end .

#### Outlook / Guidance

Pasithea Therapeutics Corp. expects to incur significant additional operating losses for the foreseeable future as it advances product candidates through development and clinical trials . The company believes its current cash and cash equivalents of approximately $55.2 million will fund operating expenses and capital expenditure requirements through at least the first half of 2028 . They anticipate an increase in research and development expenses in fiscal year 2026 due to ongoing clinical trials for PAS-004, higher CMC costs, and the initiation of non-clinical and clinical ADME studies .

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