Why Pasithea Therapeutics Stock Is Up Today
Portfolio Pulse from Ryan Gustafson
Pasithea Therapeutics Corp. (NASDAQ:KTTA) shares are up after Lucy Scientific Discovery (NASDAQ:LSDI) proposed to acquire the company for $0.60 in cash and $0.25 in Lucy stock per Pasithea share. Lucy plans to explore strategic alternatives for Pasithea's clinical development program divestiture to preserve cash for shareholders.
June 05, 2023 | 7:51 pm
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POSITIVE IMPACT
Pasithea Therapeutics shares are up after Lucy Scientific Discovery proposed an acquisition offer, which could create immediate value for shareholders.
The acquisition proposal by Lucy Scientific Discovery has led to an increase in Pasithea Therapeutics' share price. The offer, which includes cash and stock, could create immediate value for shareholders, making it a positive development for KTTA.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lucy Scientific Discovery proposed to acquire Pasithea Therapeutics, which could lead to additional upside participation through Lucy's stock as it executes its business plan.
Lucy Scientific Discovery's proposal to acquire Pasithea Therapeutics could lead to additional upside participation through its stock as it executes its business plan. This development is positive for LSDI as it could potentially increase the value of its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100