Pasithea Therapeutics Corp. (KTTA) on Tuesday said the U.S. Food and Drug Administration has granted Orphan Drug Designation to its lead candidate, PAS-004, for the treatment of Amyotrophic Lateral Sclerosis (ALS), a progressive neurodegenerative disease that affects motor neurons.
The company said the designation is intended to support the development of therapies for rare diseases and may provide several incentives, including tax credits for qualified clinical trials, exemption from certain FDA fees, and the potential for seven years of market exclusivity following regulatory approval.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.