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Why Did MIRA Pharmaceuticals Stock Plunge 11.2%?
Generated by AI AgentAinvest Movers Radar
Friday, May 9, 2025 5:33 am ET1min read
On May 9, 2025, MIRA's stock price plummeted by 11.2% in pre-market trading, marking a significant downturn for the pharmaceutical company.
MIRA Pharmaceuticals has seen a volatile year, with shares gaining 8.7% year-to-date before experiencing a 6.4% dip in after-hours trading on Thursday. This volatility reflects the company's strategic moves and market reactions to its developments.
The company's board of directors has unanimously approved the acquisition of SKNY Pharmaceuticals, a move that is expected to strengthen MIRA's pipeline and market opportunities. The acquisition, valued at over $60 million, includes a $5 million contribution from SKNY to
, further validating the combined enterprise value.MIRA Pharmaceuticals has also made significant progress in its clinical developments. The company released results from a neurotoxicity study of Ketamir-2, its novel oral NMDA receptor antagonist, showing no evidence of brain toxicity. This favorable safety profile supports the continued clinical development of Ketamir-2, which is being developed to address urgent public health needs.
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