Pharmaceutical Stock Jumps After Key Trial Findings
Traders wasted little time buying up shares of MIRA Pharmaceuticals Inc. (Nasdaq:MIRA), thrusting the micro cap up to $1.33/share (+48.24%) at the early session high. This move could indicate a breakout is imminent as this stock fights to breakout of a multi-month downtrend.
MIRA Pharmaceuticals, Inc. operates as a clinical development stage biopharmaceutical company. The company focuses on the development and commercialization of a new molecular synthetic tetrahydrocannabinol (THC) analog under investigation for the treatment of adult patients with anxiety and cognitive decline typically associated with early-stage dementia. It is developing MIRA1a, a synthetic cannabinoid analog to treat anxiety and chronic pain by targeting the cannabinoid type 1 and type 2 receptors. The company was formerly known as MIRA1a Therapeutics, Inc. MIRA Pharmaceuticals, Inc. was incorporated in 2020 and is headquartered in Baltimore, Maryland.
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