The Stock Day Podcast welcomed MIRA Pharmaceuticals, Inc.(Nasdaq:MIRA)(“the Company”), a pre-clinical-stage pharmaceutical development company developing a Novel synthetic THC analog. CEO of the Company, Erez Aminov, joined Stock Day host Kevin Davis following the company’s NASDAQ IPO.
The company’s lead drug candidate, MIRA1a, is being developed to treat anxiety and cognitive decline in the elderly and chronic pain without impurities and the negative side effects associated with cannabis plant extracts, Aminov said. “MIRA1a is a major pipeline drug, a groundbreaking new molecular entity patented worldwide,” he shared, noting it was designed to be the first unscheduled THC analog to address anxiety, chronic pain, and cognitive impairment without THC impurities and side effects.
“We have shown that we don’t only treat anxiety, chronic pain, and cognitive impairment through preclinical trials, but we’ve also shown that we enhance cognition…in animal models,” said Aminov.
Asked by Davis what prompted a Nasdaq listing, Aminov said: “we have a unique position in the market that sets us apart from traditional startups. What we’re doing is going to be very welcome by the medical community. There is a growing interest in alternative prescription medicine that is safer and more effective than what is currently available.”
Asked by Davis what market MIRA is competing in, Aminov said “we are going after two markets, which both have very large addressable market sizes. Our first opportunity is going to be in the cannabis market,” he explained, before elaborating on the unique benefits of the Company’s MIRA1a drug compared to traditional legal cannabis options. “The second side of the market is tremendous,” said Aminov, noting the size of the Neuropathic market, especially with regards to the anxiety medication market.
The conversation highlighted the Company’s dedicated and experienced team, including Chief Scientific Officer, Dr. Adam Kaplin, former Director of the Johns Hopkins Ketamine Clinic. “Dr. Kaplin has been instrumental in moving this research forward,” he added, before elaborating on the Company’s additional Board and Advisory members. “We really surrounded ourselves with experts in the field and individuals who know how to get a drug approved.”
“What is next for MIRA Pharmaceuticals?”, asked Davis. “We are currently in the toxicology stage and plan on completing this work in 2024,” shared Aminov. “At that point, the plan is to apply for a new drug application,” he explained. “We are trying to fill an unmet need for elderly patients who are showing early signs of dementia,” said Aminov. “Memory loss often causes anxiety,” he added. “After our IND application, we will apply for a Phase 1/2 combined trials,” said Aminov. “We plan on getting all of this done by late 2024 early 2025, at which point our strategy is to have a strategic partnership or a successful exit.”
To close the interview, Aminov encouraged listeners and shareholders to keep up-to-date on the Company’s current and upcoming projects as they continue to bring their revolutionary MIRA1a drug to market.
To hear Erez Aminov’s entire interview, follow the link to the podcast here:
About MIRA Pharmaceuticals, Inc.
MIRA Pharmaceuticals, Inc. (Nasdaq: MIRA) is a pre-clinical-stage pharmaceutical development company developing a Novel unscheduled synthetic THC analog. This novel compound is currently under investigation for treating adult patients suffering from anxiety and cognitive decline, often associated with early-stage dementia. MIRA1a, if approved by the FDA, could mark a significant advancement in addressing various neuropsychiatric, inflammatory, and neurologic diseases and disorders. Based on pre-clinical and animal studies conducted by the Company, the Company believes that MIRA1a may enhance the therapeutic potential for treating anxiety, cognitive decline, and chronic pain without the side effects of plant-based THC. Furthermore, the Company’s studies indicate that MIRA1a may counteract the adverse cognitive effects often seen with THC, thereby potentially unmasking previously unseen positive therapeutic effects, such as cognitive performance enhancement.
The U.S. Drug Enforcement Administration (DEA)’s scientific review of MIRA1a concluded that MIRA1a would not be considered a controlled substance or listed chemical under the Controlled Substances Act (CSA) and its governing regulations or require scheduling during development.
Additional information about the Company is available at: www.mirapharmaceuticals.com.
This press release may contain forward-looking statements regarding the Company’s current expectations. These forward-looking statements include, without limitation, references to the Company’s expectations regarding the closing of the public offering and its anticipated use of net proceeds from the offering. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions related to the public offering, or factors that result in changes to the Company’s anticipated use of proceeds. These and other risks and uncertainties are described more fully in the section captioned “Risk Factors” in the Company’s Registration Statement on Form S-1, as amended, related to the public offering (SEC File No. File No. 333-273074). Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
MZ North America
Managing Director, Public Relations
MZ North America
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