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MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA), a pharmaceutical company with a market capitalization of $19.46 million, announced Monday that it sold 1,550,741 shares of its common stock to an institutional investor through block sales as part of its at-the-market equity offering facility. According to InvestingPro data, the stock has delivered an impressive 110% return over the past year. The shares were sold at an average price of $1.2981 per share, which the company stated was a premium to the prior day’s closing price. Gross proceeds from the sale totaled approximately $2.0 million before fees and expenses. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with a strong liquidity position reflected in its current ratio of 12.86.
The transactions were facilitated by Rodman & Renshaw using the StockBlock platform. According to the company, no warrants were included in the offering.
This information is based on a press release statement disclosed in a recent SEC filing.
In other recent news, MIRA Pharmaceuticals, Inc. announced significant developments regarding its drug candidate, Mira-55. The company reported that Mira-55 demonstrated pain relief comparable to morphine in preclinical models of inflammatory pain without causing local inflammation or sedation. The U.S. Drug Enforcement Administration has confirmed that Mira-55 is not classified as a controlled substance, facilitating its clinical development. Additionally, MIRA Pharmaceuticals is advancing its acquisition of SKNY Pharmaceuticals, with the U.S. Securities and Exchange Commission completing its review of the merger proxy. SKNY Pharmaceuticals is developing SKNY-1, a drug candidate that showed promising results in reducing body weight and nicotine cravings in preclinical studies. Furthermore, MIRA Pharmaceuticals continues to progress with its lead drug candidate, Ketamir-2, which is in Phase 1 clinical trials for neuropathic pain. A manuscript detailing Ketamir-2’s pharmacological properties has been accepted for publication in a peer-reviewed journal. These developments reflect MIRA Pharmaceuticals’ ongoing efforts to advance its clinical and preclinical programs.
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