Pre-clinical-stage biopharma company, MIRA Pharmaceuticals MIRA launched its initial public offering Thursday and is trading $6.72 per share at the time of reporting.
MIRA is working on developing a synthetic THC prescription drug to treat anxiety, pain and cognition disorders without the unwanted side effects of cannabis or opioids. The company’s lead drug candidate is MIRA1a, a synthetic THC analog designed by Johns Hopkins School of Medicine researchers to offer fewer side effects compared to marijuana.
If approved by the FDA, MIRA1a may provide advancement in the treatment of neuropsychiatric, inflammatory, and neurologic diseases and disorders. Pre-clinical studies show promise in the drug’s potential to deliver only the beneficial effect of THC and CBD.
Side effects that are meant to be avoided with MIRA1a include cognitive impairment, decreased cognition, increased appetite, memory loss and paranoia. What’s more, the company is hopeful that the drug will bring out the positive effects of THC that previously were not seen, such as cognitive performance enhancement.
MIRA Pharmaceuticals was co-founded by chief science officer Dr. Adam Kaplin, whose tenure at John Hopkins University included Principal Neuro-Psychiatric Consultant to the Johns Hopkins Multiple Sclerosis Center of Excellence, director of Johns Hopkins Ketamine Clinic and Departments of Psychiatry & Neurology at Johns Hopkins University School of Medicine.
Mira1a was designed to be classified as a non-scheduled drug, potentially covered by health insurance, as a healthcare provider-prescribed alternative to marijuana or opioid treatments for patient anxiety, pain and cognition disorders without the side effects characteristic to cannabis.
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