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MIRA Pharmaceuticals, Inc. (Nasdaq:MIRA), a Florida-based pharmaceutical company with a market capitalization of $22 million, announced the appointment of Alan Weichselbaum as Chief Financial Officer, effective May 15, 2025. The announcement follows the mutual agreement for the departure of former CFO Michelle Yanez on May 16, 2025. The company’s stock, currently trading at $1.21, has shown resilience with a 6% gain year-to-date despite recent market volatility, according to InvestingPro data.
Weichselbaum, 61, brings over three decades of experience in corporate finance, capital markets, and strategic advisory. He has served as CFO at Telomir Pharmaceuticals, Inc. since May 2025 and has been a director of FinWise Bancorp (Nasdaq:FINW) since 2015. His career includes senior roles on Wall Street, founding The Wexus Group, and managerial positions at Philip Morris (NYSE:PM) Capital Corporation and Price Waterhouse. He joins MIRA at a crucial time, as InvestingPro analysis shows the company maintaining strong liquidity with a current ratio of 12.86, though facing profitability challenges in the near term.
The new CFO’s compensation includes an annual salary of $60,000 and eligibility for up to 75,000 stock options, vesting at six and twelve months, subject to continued employment. The employment is on an at-will basis, allowing either party to terminate the agreement at any time.
This leadership change is part of MIRA Pharmaceuticals’ strategic efforts to strengthen its executive team as it pursues growth through drug development, licensing, and potential mergers and acquisitions. Weichselbaum’s extensive financial expertise is expected to play a pivotal role in the company’s future endeavors. With earnings results expected on May 28, investors can access comprehensive financial analysis and additional insights through InvestingPro, which features 7 more key investment tips for MIRA Pharmaceuticals.
The appointment is detailed in an Employment Agreement, referenced as Exhibit 10.1 in the SEC filing, which outlines the terms and conditions of Weichselbaum’s role within the company.
This news is based on a recent SEC filing by MIRA Pharmaceuticals, Inc.
In other recent news, MIRA Pharmaceuticals has announced the strategic acquisition of SKNY Pharmaceuticals, pending shareholder approval. This merger could create a combined entity valued at over $60 million, allowing MIRA to explore significant therapeutic markets. In addition, MIRA has reported successful results from a neurotoxicity study of Ketamir-2, an NMDA receptor antagonist, which showed no signs of brain toxicity. The company is advancing with Phase I clinical trials and preparing for a Phase IIa trial in diabetic patients with neuropathic pain. Furthermore, the topical formulation of Ketamir-2 demonstrated a consistent and dose-proportional release in studies, aligning with FDA guidelines. This development positions MIRA to potentially offer a non-opioid pain treatment option. MIRA’s oral Ketamir-2 has also shown significant efficacy in reducing neuropathic pain symptoms in diabetic animal models. The company is exploring a Fast Track designation for the topical Ketamir-2 program, which could expedite its development. These recent developments highlight MIRA’s ongoing efforts in drug development and strategic growth.
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