M&A - MIRA PHARMACEUTICALS, INC.

Form Type: 8-K

Filing Date: 2025-05-28

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225012603

Filing Summary: On May 28, 2025, MIRA Pharmaceuticals, Inc. announced its participation in the BIO International Convention 2025 in Boston, scheduled for June 16–19, 2025. The company will be engaging in BIO One-on-One Partnering meetings to explore potential licensing, strategic collaborations, and M&A opportunities. Additionally, the company provided updates on its clinical and preclinical programs, including the progress of its lead candidate, Ketamir-2, which is in an ongoing Phase 1 clinical trial and is set to begin Phase IIa trials in neuropathic pain by the end of 2025. MIRA is also advancing preclinical studies for Ketamir-2 focusing on PTSD and is finalizing regulatory filings concerning its acquisition of SKNY Pharmaceuticals, Inc., which is developing SKNY-1, an oral therapeutic aimed at smoking cessation and obesity.

Form Type: 10-Q

Filing Date: 2025-05-14

Corporate Action: Acquisition

Type: Update

Accession Number: 000164117225010301

Filing Summary: MIRA Pharmaceuticals, Inc. reported financial results for the quarter ending March 31, 2025, showing a net loss of approximately $1.78 million, a slight increase in loss compared to the previous year. The company has faced significant operational expenses, including $1.49 million in general and administrative expenses and $314,404 in research and development. There has been a significant acquisition development as MIRA entered a binding letter of intent on March 19, 2025, with SKNY Pharmaceuticals, Inc. to conduct a stock exchange transaction aimed at acquiring SKNY. This acquisition will potentially enhance MIRA's drug pipeline with SKNY-1, a compound aimed at obesity and smoking cessation, alongside an infusion of $5 million from SKNY. MIRA has also reported a decrease in its cash reserves from $2.83 million at the end of the previous year to $1.21 million by March 31, 2025, indicating a high cash burn rate. There’s a continued focus on raising additional capital needed to support operations and ongoing clinical trials, along with substantial doubt noted regarding the company’s ability to continue as a going concern.

Form Type: 8-K

Filing Date: 2025-05-08

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225009155

Filing Summary: On April 30, 2025, MIRA Pharmaceuticals, Inc. approved a definitive agreement to acquire SKNY Pharmaceuticals, Inc., a biotechnology company focusing on therapies for obesity and nicotine dependence. The acquisition value, based on independent valuations, is approximately $30.5 million for SKNY and around $30 million for MIRA. At the closing of the transaction, SKNY will contribute $5 million in assets or cash to MIRA, which is expected to bolster MIRA's balance sheet and support future initiatives. This merger will create a combined enterprise value exceeding $60 million, enhancing MIRA's market position and pipeline. MIRA intends to file a preliminary proxy statement on Form 14A to seek shareholder approval for this acquisition.

Form Type: 8-K

Filing Date: 2025-04-11

Corporate Action: Acquisition

Type: Update

Accession Number: 000164117225003889

Filing Summary: MIRA Pharmaceuticals, Inc. received a notification from the Nasdaq Listing Qualifications Staff on April 8, 2025, regarding its failure to meet the minimum stockholders' equity requirement of $2.5 million, as its equity was reported at $2,199,750 as of December 31, 2024. While this notice does not affect the company's listing status or the trading of its stock on the Nasdaq under the symbol 'MIRA', the company has 45 days to submit a plan to regain compliance, with a potential extension of up to 180 days. MIRA Pharmaceuticals is in the process of preparing this compliance plan. A significant aspect of the company's strategy is the anticipated acquisition of SKNY Pharmaceuticals, Inc., which includes a $5 million capital infusion that will strengthen the company's balance sheet. The company is also working on its Phase 1 clinical trial for Ketamir-2, a next-generation oral ketamine analog, and has shown promising early data in its topical formulation. Furthermore, the company is exploring partnerships with strategic investors to enhance its capital position and maintain a focus on advancing its neuroscience pipeline and regulatory milestones.

Form Type: 8-K

Filing Date: 2025-03-24

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225000199

Filing Summary: On March 19, 2025, MIRA Pharmaceuticals, Inc. entered into a binding letter of intent with SKNY Pharmaceuticals, Inc. to acquire SKNY through a stock exchange transaction. This acquisition is significant as it will allow MIRA to include SKNY-1, a novel drug candidate aimed at weight loss and smoking cessation, in its product pipeline. As part of the agreement, SKNY will contribute a $5 million capital infusion, enhancing MIRA's financial position. The acquisition conditions include an independent valuation to ensure SKNY's valuation is at least equal to or greater than MIRA's. This merger will require shareholder approvals from both companies, and a 90-day due diligence period has been initiated to finalize the definitive stock purchase agreement and other documents.