NASDAQ:MIRA
READ THE FULL MIRA RESEARCH REPORT
MIRA Pharmaceuticals (NASDAQ:MIRA) is a preclinical-stage pharmaceutical company focused on the development and commercialization of a new molecular synthetic cannabinoid analog for the treatment of adult patients with neuropathic pain as well as anxiety and cognitive decline typically associated with early-stage dementia. The company also acquired the rights to Ketamir, which, in layman’s terms, is a potential derivative of the antidepressant ketamine that has shown indications of having fewer side effects, working more rapidly, and having the opportunity to impact millions of patients that have not responded to other, existing treatments. We have written about the exciting preclinical results for Ketamir-2, the company’s novel oral ketamine analog, and the company just released further study results that, in our view, boost the potential for the treatment.
As previously discussed, Ketamir-2 is under investigation for its potential in treating neurological and neuropsychiatric disorders, including depression, treatment-resistant depression (TRD), and post-traumatic stress disorder (PTSD).
According to the company, Ketamir-2, in a preclinical study in rats conducted at Pharmaseed, “produced a significant reversal of neuropathic pain, …culminating in a 100% normalization of pain thresholds.” The company also noted that traditional ketamine proved ineffective when given orally, the same way Ketamir-2 was administered, under the same conditions. These results further our belief that Ketamir-2 has the potential to be a game-changing treatment and overcome many of the problems with Ketamir that have been so well publicized as of late.
The company also announced that, due to this highly encouraging data, MIRA is conducting additional studies to evaluate Ketamir-2’s efficacy in treating cancer-induced depression and neuropathic pain. Company management believes that these studies could lead to faster regulatory approvals and “innovative clinical study designs,” and is “optimistic” that efficacy in humans could be demonstrated as early as 2025.
Lastly, we want to highlight a comment from the company’s Chief Scientific Advisor, Dr. Itzchak Angel, a highly respected figure in the industry, who noted, “The ability to administer Ketamir-2 orally without the severe psychotropic side effects commonly associated with ketamine is a remarkable achievement. This positions Ketamir-2 as a pioneering treatment in the realm of neuropathic pain, offering hope to patients who have limited options available.”
We remain extremely positive on MIRA, and this announcement is yet another confirmation that the potential for MIRA’s treatments is large and growing. This announcement, in our view, helps to further validate the potential for MIRA therapies. The company has two potential groundbreaking therapies and is rightly focusing on the one with the potential to get to market the fastest—Ketamir-2, but also continuing to advance MIRA-55, which we have written extensively about, in the background. We urge investors to look at MIRA and suggest those with a modestly higher risk tolerance consider investing before MIRA announces more positive results or collaborations the stock really starts to move higher.
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