MIRA Pharmaceuticals (MIRA, Financial) has completed in vitro release testing for its topical Ketamir-2 formulation, a significant step in its development. Using a 5% ointment, the research employed a validated Franz diffusion cell model to test the formulation. Results showed a consistent and dose-proportional release of the active compound, which remained stable in its hydrophobic base, adhering to FDA-recommended guidelines for topical product evaluation.
The company is now progressing with preclinical studies on the topical formulation of Ketamir-2, focusing on its performance in inflammatory and neuropathic pain models. These studies aim to further characterize its in vivo behavior and guide future clinical development strategies. MIRA is also considering the potential for the FDA's expedited development programs, such as Fast Track and Breakthrough Therapy designations, for this formulation, should its data qualify.
Besides the topical version, MIRA is conducting a Phase 1 clinical trial on the oral form of Ketamir-2, involving healthy volunteers. A Phase 2a study specifically targeting diabetic neuropathy is also in the pipeline. By pursuing both systemic and localized formulations, MIRA aims to address a broad spectrum of pain-related conditions, providing increased treatment options.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for Mira Pharmaceuticals Inc (MIRA, Financial) is $14.38 with a high estimate of $17.75 and a low estimate of $11.00. The average target implies an upside of 1,571.32% from the current price of $0.86. More detailed estimate data can be found on the Mira Pharmaceuticals Inc (MIRA) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Mira Pharmaceuticals Inc's (MIRA, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
