The company has recorded zero revenue over the past ten quarters, while R&D expenditures reached a peak of $2.9 billion in 2026Q1, highlighting the firm's total reliance on external funding.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 15.06K | 0 |
| Revenue Growth % | - | - | - | - | -100% | - | - |
| Cost of Goods Sold | 315.5K | 0 | 0 | 0 | 5.09K | 17.27K | 0 |
| COGS % of Revenue | - | - | - | - | - | 114.69% | - |
| Gross Profit | -315.5K | 0 | 0 | 0 | -5.09K | -2.21K | 0 |
| Gross Margin % | - | - | - | - | - | -14.69% | - |
| Gross Profit Growth % | - | - | - | 100% | -130.19% | - | - |
| Operating Expenses | 21.74M | 20.86M | 14.25M | 15.98M | 12.58M | 4.51M | 61.48K |
| OpEx % of Revenue | - | - | - | - | - | 29911.03% | - |
| Selling, General & Admin | 1.95B | 12.88M | 7.05M | 0 | 9.92M | 0 | 0 |
| SG&A % of Revenue | - | - | - | - | - | - | - |
| Research & Development | 2.95B | 7.98M | 7.2M | 8.1M | 2.67M | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | -1.16M | 0 | 0 | 7.88M | 0 | 4.51M | 61.48K |
| Operating Income | -22.05M | -20.86M | -14.25M | -15.98M | -12.59M | -4.51M | -61.48K |
| Operating Margin % | - | - | - | - | - | -29925.73% | - |
| Operating Income Growth % | - | -46.37% | 10.82% | -26.93% | -179.29% | -7231.99% | - |
| EBITDA | -21.4M | -20.19M | -13.6M | -15.33M | -12.58M | -4.51M | 0 |
| EBITDA Margin % | - | - | - | - | - | -29916.57% | - |
| EBITDA Growth % | -61.59% | -48.48% | 11.28% | -21.83% | -179.27% | - | - |
| D&A (Non-Cash Add-back) | 658.42K | 662.59K | 649.03K | 648.45K | 5.09K | 1.38K | 61.48K |
| EBIT | -22.05M | -20.86M | -14.25M | -15.98M | -11.73M | -4.51M | -61.48K |
| Net Interest Income | 730.29K | 327.19K | 423.18K | 0 | -102 | -508 | 0 |
| Interest Income | 730.29K | 327.19K | 423.18K | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 102 | 508 | 0 |
| Other Income/Expense | 2.32M | 429.61K | 345.38K | 471.61K | 861.09K | 2.33M | 0 |
| Pretax Income | -19.73M | -20.43M | -13.9M | -15.51M | -11.73M | -2.17M | -61.48K |
| Pretax Margin % | - | - | - | - | - | -14430.49% | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -19.73M | -20.43M | -13.9M | -15.96M | -13.94M | -2.17M | -61.48K |
| Net Margin % | - | - | - | - | - | -14430.49% | - |
| Net Income Growth % | -45.03% | -46.91% | 12.89% | -14.53% | -541.19% | -3435.56% | - |
| Net Income (Continuing) | -19.73M | -20.43M | -13.9M | -15.51M | -11.73M | -2.17M | -61.48K |
| Discontinued Operations | 0 | 0 | 0 | -453.91K | -2.21M | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.81 | -2.91 | -12.69 | -13.01 | -10.34 | -1.89 | -0.06 |
| EPS Growth % | 81.38% | 77.07% | 2.46% | -25.82% | -447.09% | -3081.82% | - |
| EPS (Basic) | - | -2.91 | -12.69 | -12.65 | -10.34 | -1.89 | -0.06 |
| Diluted Shares Outstanding | 7.03M | 7.03M | 1.1M | 1.23M | 1.26M | 1.15M | 688.92K |
| Basic Shares Outstanding | 7.03M | 7.03M | 1.1M | 1.26M | 1.26M | 1.15M | 688.92K |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Binary clinical trial failure
As indicated by the historical income statement data, Pasithea Therapeutics has recorded zero revenue over the past ten quarters, confirming its status as a pre-commercial entity entirely dependent on external capital to fund its ongoing research and development initiatives within the neuro-oncology and psychiatric therapeutic spaces.
The lack of top-line growth highlights the company's current reliance on clinical milestones rather than commercial sales. Investors should monitor whether the company intends to pursue a licensing model or internal commercialization, as the current trajectory offers no evidence of market penetration or product-market fit.
According to the provided financial records, the company's cost structure is heavily skewed toward research and development, with quarterly R&D expenditures fluctuating significantly, reaching as high as $2.9 billion in 2026Q1, which underscores the capital-intensive nature of its current macrocyclic MEK inhibitor development program.
The volatility in R&D spending suggests a project-based approach where costs spike during specific clinical trial phases. Management's ability to maintain expense discipline while advancing PAS-004 remains a critical factor, as the current burn rate appears to be accelerating relative to historical averages.
Based on reported figures, the company consistently posts net losses, with the 2025Q4 period showing a significant net loss of $10.1 million, which appears to be exacerbated by non-recurring items that complicate the assessment of the firm's underlying operational efficiency and long-term earnings potential.
The wide variance in EPS, ranging from -0.41 to -3.71, suggests that the bottom line is highly sensitive to non-operating adjustments and potential accounting shifts. Analysts should look past the headline net loss to evaluate the cash-based burn rate, which provides a clearer picture of the company's runway.
As reported in financial statements, the company's persistent operating losses and lack of revenue generation raise concerns regarding the sustainability of its current cash position, particularly if clinical trial timelines for PAS-004 extend beyond the current funding horizon without achieving a meaningful value-creating milestone.
Short-term liquidity may appear adequate, but the absence of a clear path to commercial revenue suggests that the company may face future dilutive financing events. Investors should remain cautious about the potential for further asset impairments if the clinical pipeline fails to meet regulatory expectations.
Quick answers to the most common questions about buying KTTA stock.
For fiscal year 2025, Pasithea Therapeutics Corp. (KTTA) reported total revenue of $0.0M.
Pasithea Therapeutics Corp. (KTTA) reported a net loss of $20.4M for the fiscal year ending 2025.