Mira Pharmaceuticals, Inc. (NASDAQ: MIRA)

MIRA Pharmaceuticals, Inc. is a clinical stage pharmaceutical development company advancing three neuroscience programs targeting a broad range of neuropsychiatric and neurologic disorders. The company holds exclusive license rights in the United States, Canada, and Mexico for an oral ketamine analog under investigation for neuropathic pain. It also develops an oral pharmaceutical marijuana molecule aimed at alleviating anxiety and cognitive decline linked to early stage dementia. Through its acquisition of SKNY Pharmaceuticals it gained rights to an oral drug candidate that modulates cannabinoid and MAO pathways to address energy storage, lipid metabolism, appetite, cravings and reward without psychiatric side effects. Additionally the company has formulated a topical version of the ketamine analog for localized pain conditions.

MIRA Pharmaceuticals, Inc. does not yet generate revenue from product sales because its candidates remain in clinical or preclinical development. The company finances its operations through proceeds from equity offerings, debt facilities and private placements. In particular it has used an at the market equity program, a line of credit with a major shareholder and the proceeds from its initial public offering to fund research and development activities.

MIRA Pharmaceuticals, Inc. operates in a competitive biopharmaceutical landscape where many firms pursue novel treatments for neuropathic pain, dementia related symptoms and metabolic disorders. Its competitors include other developers of ketamine analogues, cannabinoid based therapies and anti obesity agents. The company differentiates itself through exclusive licensing rights for its lead compounds in key North American markets, patent pending status on its molecules and a determination by the U. S. Drug Enforcement Administration that its ketamine analog and marijuana molecule are not controlled substances. Additionally the availability of both oral and topical formulations of its ketamine analog provides flexibility in addressing various pain indications.

MIRA Pharmaceuticals, Inc. aims to serve patients suffering from neuropathic pain, early stage dementia, obesity and nicotine addiction. The company’s future customers are expected to include hospitals, clinics, long term care facilities and retail pharmacies. Additionally it may seek partnerships with pharmaceutical distributors and managed care organizations to support commercialization of its product candidates.