MIRA Pharmaceuticals Inc. experienced a surge in its stock price on Friday following the release of promising new preclinical data for its leading development product, Ketamir-2. The company’s shares closed 8.41% higher at $1.16. This positive news stems from the successful results of Ketamir-2 in preclinical models, where it achieved a complete reversal of neuropathic pain.
This groundbreaking achievement will be presented at the 18th Annual Pain Therapeutics Summit in Boston this October. Ketamir-2, a novel oral Ketamine analog, boasts a unique approach by selectively targeting the PCP site of the NMDA receptor. This targeted approach offers enhanced efficacy while minimizing the side effects typically associated with traditional ketamine treatments.
Neuropathic pain, a debilitating condition often caused by nerve damage or dysfunction, remains a significant challenge in pain management. Existing therapies have limitations, and the potential of Ketamir-2 to offer complete normalization of pain responses represents a major advancement.
The data will be presented by Dr. Itzchak Angel, the Chief Scientific Advisor of MIRA Pharmaceuticals, at the summit. MIRA Pharmaceuticals is committed to advancing the development of Ketamir-2 and plans to submit an Investigational New Drug (IND) application to the FDA by December 2024. The company aims to demonstrate Ketamir-2’s efficacy in humans by 2025, with Phase I/II studies designed to validate its clinical effectiveness in treating neuropathic pain and other neurological conditions.
This positive news and the company’s ambitious timeline for human trials have generated excitement in the medical community and the investment market. MIRA Pharmaceuticals’ focus on developing innovative treatments for neuropathic pain positions them as a key player in the evolving landscape of pain management.
