24/7 Market News Snapshot 12 Aug 2024 – MIRA Pharmaceuticals, Inc. Common Stock (NASDAQ: MIRA)

August 12, 2024 7:11

Press Release

DENVER, Colo., 12 August, 2024 (247marketnews.com) – (NASDAQ:MIRA) are discussed in this article.
MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) has recently evidenced a promising trajectory in the pre-market session, trading at a notable price of $2.454—reflecting a substantial 20.38% increase from its previous close of $2.10. This upward movement is bolstered by a robust trading volume of 1.4 million, underscoring heightened investor interest. The remarkable price surge paired with significant trading activity signals potential sustained growth, making MIRA a noteworthy contender in today’s fast-paced market.

Contributing to this bullish trend is the company’s announcement of groundbreaking preclinical data on its novel drug candidate, Ketamir-2, and its primary metabolite, Nor-Ketamir-2. These developments are set to revolutionize at-home treatment paradigms for neurological conditions. Preclinical studies indicate that Nor-Ketamir-2, like Ketamir-2, showcases high selectivity with minimal interaction at the NMDA PCP site and negligible activity at other receptor sites, setting it apart from traditional ketamine known for its low oral bioavailability and safety concerns.

A key advancement includes the new salt formulation, Ketamir-2 Pamoate, which significantly improves pharmacokinetics, enhancing both plasma and brain levels of Nor-Ketamir-2 with almost 100% oral bioavailability. This ensures efficient absorption and utilization, maintaining therapeutic levels for extended periods and potentially reducing dosing frequency.

– **Enhanced Bioavailability**: The improved formulation achieves nearly 100% oral bioavailability, a significant leap from traditional ketamine’s less than 30%.
– **Sustained Brain Penetration**: Nor-Ketamir-2’s extended half-life enables prolonged therapeutic effects, essential for effective at-home treatment.
– **Improved Safety Profile**: The selective interaction minimizes adverse effects, presenting a cleaner pharmacological profile.

MIRA Pharmaceuticals is actively pursuing further studies to explore applications in areas such as cancer neuropathic pain and PTSD. The company is progressing towards scaling up Good Manufacturing Practice (GMP) drug production and is on track to submit an Investigational New Drug (IND) application by the end of the year, heralding its transition to clinical trials.

Erez Aminov, Chairman and CEO, affirmed their mission to enhance neurological treatment affordability and accessibility. Chief Medical Advisor Dr. Itzchak Angel highlighted the limitations of traditional ketamine and the transformative potential of Nor-Ketamir-2. With these advancements, MIRA Pharmaceuticals is poised to make significant strides in the pharmaceutical landscape.

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