MIRA Pharmaceuticals Inc. (NASDAQ:MIRA) stock is pulling back in premarket trading on Tuesday after surging 21.74% to close sharply higher on Monday, driven by new preclinical data.
Mira-55 Shows No CNS Side Effects
The recent study demonstrated that Mira-55 did not produce cannabinoid-like central nervous system (CNS) side effects across various validated behavioral assays, which is a significant finding for the company’s ongoing development efforts.
The data support MIRA’s strategy to advance Mira-55 towards an Investigational New Drug (IND) submission for inflammatory pain treatment.
In the study, Mira-55 was evaluated at oral doses of 10, 30, and 100 mg/kg, showing promising results compared to THC and rimonabant, with no observed psychogenic effects at any tested dose.
Eyes Major Pain Market Opportunity
The findings indicate that Mira-55 could offer therapeutic benefits without the CNS liabilities associated with traditional cannabinoid therapies, potentially positioning it favorably in a growing market projected to reach $70.3 billion by 2030.
“The challenge in cannabinoid drug development has never been the biology-it’s been separating it from CNS side effects. We believe Mira-55 may represent an important step in that direction as we advance toward clinical development in inflammatory pain,” said Erez Aminov, Chairman and CEO of MIRA.
MIRA Price Action: Mira Pharmaceuticals shares were down 5.77% at $1.06 during premarket trading on Tuesday, according to Benzinga Pro data.
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