Benzinga | Oct 11, 2021 08:34AM EDT

Pasithea, Evotec Ink Drug Development Pact

* Pasithea Therapeutics Corp (NASDAQ:KTTA) has initiated a new chemical entity development program and named Evotec SE (OTC: EVOTF) its research partner.

* No deal terms were disclosed.

* Pasithea aims to advance small molecule therapeutics with a focus on a specific neuroinflammatory pathway implicated in the neurobiology of depression and schizophrenia," stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.

* Price Action: KTTA shares closed 1.50% lower at $2.62 on Friday.