- Investor group consisting of Camac Partners LLC, Concord Investment Partners Ltdand Leonite Capital LLC sentenced Pasithea Therapeutics Corp KTTA recently announced the acquisition of AlloMek Therapeutics LLC.
- The investors, collectively the company’s largest shareholders, said: “We are disgusted that the acting directors of Pasithea made their decision less than two weeks after confirming the shareholders’ request for a special meeting to decide the fate of the current board have to proceed with a second highly dilutive acquisition within the last six months.”
- “In our view, the company’s shareholders should take this as a clear sign that investor feedback is being dismissed and urgent boardroom changes are needed,” they added.
- Related: EXCLUSIVE: Pasithea Strengthens CNS-Focused Pipeline with Acquisition of AlloMek Therapeutics.
- Investors said less than 6 million shares were voted “for” each of the acting directors at the company’s most recent annual meeting. While investors received support, it indicated clear evidence of investor dissatisfaction with the board.
- In June Pasithea acquired Alpha-5 Integrin LLCa privately held preclinical company developing a monoclonal antibody against amyotrophic lateral sclerosis and other neuroinflammatory diseases, for $3.75 million.
- Price promotion: KTTA shares traded 0.79% lower at $1.24 on the last check Friday.
