Bullish indicating open at $55-$60, IPO prices at $37
MIAMI - MIRA Pharmaceuticals, Inc. (Nasdaq:MIRA), a clinical-stage biotech company currently valued at $21.66 million, announced Wednesday that a manuscript describing its lead drug candidate Ketamir-2 has been accepted for publication in the peer-reviewed journal Frontiers in Pharmacology. According to InvestingPro analysis, the stock appears overvalued at current levels, despite showing strong momentum with an 80% return over the past year.
The article, authored by the company’s Chief Scientific Advisor Itzchak Angel, details the pharmacological properties of Ketamir-2, which is currently in Phase 1 clinical trials for neuropathic pain.
According to the company’s press release statement, the publication highlights Ketamir-2’s differentiation from ketamine, describing it as a selective NMDA receptor antagonist that showed no significant interaction with over 40 other receptors, transporters, or ion channels in preclinical testing.
The manuscript reports that Ketamir-2 did not induce hyperlocomotion in preclinical models, a behavior associated with agitation and schizophrenia-like symptoms often seen with ketamine. The compound also demonstrated anxiolytic and antidepressant-like effects in behavioral models and can be administered orally with efficient brain penetration.
MIRA Pharmaceuticals stated that its Phase 1 trial is progressing with no safety concerns reported to date. The company plans to initiate a Phase 2a clinical trial in neuropathic pain by year-end 2025, pending regulatory clearance.
The company also noted that its previously announced acquisition of SKNY Pharmaceuticals is proceeding, with required regulatory filings submitted to the SEC.
MIRA Pharmaceuticals is developing therapeutics for neurologic, neuropsychiatric, and metabolic disorders. The acceptance of this publication represents external validation of the company’s research through the peer review process.
In other recent news, MIRA Pharmaceuticals has reported significant progress in its clinical and preclinical programs. The company announced the successful completion of the second dosing cohort in its Phase 1 clinical trial for Ketamir-2, an oral ketamine analog, and plans to initiate a Phase IIa trial for neuropathic pain by the end of 2025. Additionally, MIRA has completed in vitro release testing for a Ketamir-2 topical formulation, demonstrating consistent release profiles. In terms of corporate developments, MIRA Pharmaceuticals is finalizing regulatory filings for the acquisition of SKNY Pharmaceuticals, pending shareholder and regulatory approval. This strategic acquisition aims to enhance MIRA’s pipeline with SKNY’s lead candidate, SKNY-1, targeting smoking cessation and obesity. Furthermore, the company has appointed Alan Weichselbaum as the new Chief Financial Officer, bringing extensive experience in corporate finance and strategic advisory. These developments reflect MIRA Pharmaceuticals’ ongoing efforts to expand its therapeutic offerings and strengthen its executive team.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.