MIRA Pharmaceuticals stock soars over 430% following announcement of promising preclinical results for its novel oral ketamine analog, Ketamir-2.
Key points:
- MIRA’s Ketamir-2 shows potential for better brain penetration and reduced drug resistance compared to traditional ketamine.
- The company aims to submit an Investigational New Drug (IND) application to the FDA by year-end.
- Ketamir-2’s unique properties could lead to improved efficacy and patient compliance in treating neurological and neuropsychiatric disorders.
Market data: As of 11:53 a.m. EST Monday, MIRA Pharmaceuticals stock is trading at $3.66, up 431% from the previous close. Trading volume has surged to over 108 million shares, significantly above the average daily volume of 654,000 shares.
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MIRA Pharmaceuticals, Inc. (NASDAQ: MIRA) stock is seeing a significant increase today, with shares up 431% as of late morning trading. The surge follows the company’s announcement of new preclinical study results for its oral ketamine analog, Ketamir-2, which is being developed to treat various neurological and neuropsychiatric disorders.
Catalyst details
The main driver for MIRA’s stock increase is the release of additional preclinical data for Ketamir-2. The company reported that Ketamir-2 is not a substrate for interaction with P-glycoprotein (P-gp), a membrane protein that typically expels many drugs from cells.
This characteristic could potentially allow Ketamir-2 to penetrate the blood-brain barrier more effectively than traditional ketamine, possibly leading to improved efficacy and lower dosing requirements.
Company background
MIRA Pharmaceuticals is a pre-clinical-stage pharmaceutical company focused on developing treatments for neurologic and neuropsychiatric disorders.
Their lead candidate, Ketamir-2, is an oral ketamine analog under investigation for conditions such as treatment-resistant depression, major depressive disorder with suicidal ideation, and post-traumatic stress disorder.
