MIRA Pharmaceuticals (NASDAQ:MIRA) CEO Erez Aminov, CEO joined Proactive's Stephen Gunnion as the company started trading on the Nasdaq under the ticker symbol 'MIRA'.
Aminov said MIRA is making groundbreaking advancements in the cannabinoid industry with the development of a synthetic THC analog that aims to revolutionize medicinal cannabis usage.
This new patented molecular entity offers the benefits of THC without its typical side effects. Pre-clinical studies at Johns Hopkins Medical School, as presented at the ASAM conference in 2023, revealed that this compound not only alleviates anxiety and chronic pain but also enhances cognitive performance by 100% in animal studies.
MIRA's synthetic THC analog is intended for prescription use, and Aminiov said the company is currently advancing pre-clinical studies in anticipation of procuring FDA approval to progress to clinical studies. The pharmaceutical-grade version aims to provide a clean, safe, and effective option for patients, allowing them access to cannabis-based relief without the impurities and toxicity associated with the use of marijuana.
The company is working to try and develop a novel therapeutic to address unmet needs, such as anxiety and cognitive impairment in early-stage dementia patients, with minimal known side effects.
MIRA Pharmaceuticals raised $8.9 million in the IPO, which will be primarily directed towards accelerating toxicology and clinical research to bring this potentially revolutionary drug to market.