MIRA Pharmaceuticals to Acquire SKNY in Stock Deal

MIRA Pharmaceuticals, Inc. has announced a definitive agreement to acquire SKNY Pharmaceuticals, Inc., a move that will add a novel oral drug candidate targeting weight loss and smoking cessation to MIRA’s pipeline. The transaction, which was agreed upon on March 19, 2025, will involve a stock exchange, with SKNY merging into MIRA Pharmaceuticals.

Under the terms of the agreement, SKNY’s shareholders will receive shares of MIRA’s common stock in exchange for their SKNY shares, the ratio of which will be determined by an independent valuation. The deal is contingent on the valuation of SKNY being at least equal to or greater than MIRA’s. Additionally, SKNY will bolster MIRA with a $5 million capital infusion. According to InvestingPro data, MIRA maintains a healthy liquidity position with a current ratio of 6.11, indicating strong ability to meet short-term obligations.

The strategic acquisition will grant MIRA exclusive rights to SKNY’s compounds in the United States, Canada, and Mexico, expanding its development pipeline. The completion of the acquisition is subject to approval from shareholders of both companies.

Both MIRA and SKNY will engage in a 90-day due diligence period to negotiate and execute a definitive stock purchase agreement and other transaction documents. Upon completion, all of SKNY’s assets, including its drug candidates, will become wholly owned by MIRA.

This report is based on a press release statement.

In other recent news, Mira Pharmaceuticals has made significant strides in its pain management pipeline. The company announced the successful development of a new topical treatment derived from Ketamir-2, aimed at providing localized relief for neuropathic and inflammatory pain. This topical formulation is designed to offer slow-release, targeted pain relief, reducing systemic exposure and potential side effects. Concurrently, Mira Pharmaceuticals has begun a Phase 1 clinical trial for an oral version of Ketamir-2, which will assess its safety and tolerability in healthy adult volunteers. This trial is taking place at Hadassah Medical (TASE:BLWV) Center in Jerusalem, Israel, with recruitment expected to start in the first quarter of 2025. The company plans to complete this phase by the fourth quarter of 2025, paving the way for a Phase 2a study by the end of the year. Mira Pharmaceuticals is also conducting preclinical studies to evaluate the efficacy of the topical formulation, with plans for a Phase 2a clinical trial in patients with diabetic neuropathy. These developments highlight Mira Pharmaceuticals’ commitment to expanding its treatment options for neuropathic pain.

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