SmallCapFirm

(MIRA) Is A New Low Float Nasdaq Idea With A Zacks SCR Analyst Target Anticipating Over 400% Potential Upside

$16.50 Zacks SCR Analyst Target - Full Report

November 19th

SCF Readers,

Did you think we were just going to take Friday off and cruise into the weekend?

Think again...

This past Friday, we identified a breakout idea needing immediate attention.

Brought to you at the opening bell, that NYSE American profile was targeted as a low float idea with explosive volatility potential.

Surging from an open of $.206, that breakout runner popped to a high of $.25 on the day.

That's an intraday run of approximately 21%.

Not bad, but right now we've got a new low float idea to get on radar quickly.

Trading on the Nasdaq Capital Market, this potential wrecking ball has a float of fewer than 9Mn shares (significantly less than Friday's low float idea).

And with an analyst $16.50 target, it may just hold upside potential of over 400% from its closing valuation Friday.

Drop everything right now and pull up:

MIRA Pharmaceuticals, Inc. (MIRA)

MIRA Pharmaceuticals, Inc. is a pre-clinical-stage pharmaceutical development company developing an unscheduled novel synthetic T-H-C analog.

This novel compound is currently under investigation for potentially treating adults suffering from anxiety and cognitive decline, often associated with early-stage dementia.

Developing The Next Generation FDA Approved Novel Synthetic T-H-C Analog

MIRA Pharmaceuticals, Inc. is a life sciences company focused on the development of MIRA1a, a novel synthetic T-H-C analog.

MIRA1a is being developed to treat anxiety and cognitive decline in the elderly and neuropathic pain without impurities or the negative side effects associated with cann-a-bis ("CB") plant extracts.

MIRA1a is classified as an unscheduled drug by the U.S. Drug Enforcement Administration (DEA).

Market Opp. - Summary of U.S. Epidemiology

The eligible patient pool analysis for MIRA1a highlights a potential large patient pool looking for potential treatments to their conditions:

U.S. Le.gal MJ Market

Initial dual path focus: Potentially winning in traditional markets and the T-H-C analog markets using a safe, effective and FDA-approved treatment option.

Therapeutic Focus Areas

MIRA1a is under evaluation for three key therapeutic areas with high disease burden and significant unmet needs:

Neuropathic Pain

Neuropathic Pain is a complex pain condition that arises from dysfunction or damage to the nervous system. It is a pain state that can continue even when the initial cause of the pain, such as an injury or disease, has healed or been treated. It represents a malfunction in the nerve's signaling rather than a response to continued harm.

Affecting approximately 7-10% of the general population. Examples include diabetic peripheral neuropathy, postherpetic neuralgia, and multiple sclerosis related neuropathy.

Existing treatments may involve medications like anticonvulsants, which can reduce the excitability of nerves, thereby dampening abnormal electrical activity, or antidepressants, which increase serotonin and norepinephrine levels that modulate the way the brain perceives pain. However, their effectiveness can be limited, and they might carry side effects. Opiates are used less frequently due to addiction risks.

Developing targeted and efficient therapies for neuropathic pain stands as a priority for numerous pharmaceutical companies to address this common source of suffering and morbidity for treatment-resistant cases. Innovative strategies, including cann-a-binoid therapies, are under exploration to tackle the distinctive challenges posed by this type of pain.

Anxiety and Cognitive Decline in the Elderly

Anxiety disorders are chronic conditions marked by an excessive & persistent sense of apprehension, with physical symptoms such as sweating, palpitations, and feelings of stress.

~40 million U.S. adults have an anxiety disorder, including phobias, Social Anxiety Disorder, PTSD, Generalized Anxiety Disorder, and Panic Disorder.

Standard treatment leverages cognitive-behavioral therapy, though pharmacological options include. SSRIs, SNRIs, and TCAs.

Cognitive Impairment

Cognitive Impairment encompasses conditions marked by notable decline in one's cognitive abilities including Alzheimer's disease and dementia.

~16 million people in the US are living with cognitive impairment.

Current treatments for cognitive impairment do not temporarily restore lost function and are only capable of delaying the progression of the disease.

Anticipated Timeline

Pre-clinical work is underway and expected to be completed by Q1’24.

Positioning MIRA for an initial IND filing in Q3 2024.

Grab Key Sources Here: Company Website. Company Presentation.

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The Top 3 Potential Catalysts To Focus On Right Now!

#1. MIRA is a low float profile (volatility will need to be on watch.)

As of Friday's closing bell, Yahoo Finance was reporting MIRA to have a float of 8.96Mn shares.

Why is this important? One word: Volatility.

When a profile has a float this small, volatility can create an environment for explosive intraday and short term chart moves.

One thing that can influence such a move is company news (whether good or bad).

In fact, it could be why MIRA was able to move over $1.00+ intraday this past week after an analyst published price target started making the rounds...

#2. Zacks SCR analyst target of $16.50 starts making headlines.

Last week, Zacks Small-Cap Research analyst, Brad Sorensen, updated a research report on MIRA.

In it, he highlights why MIRA has a $16.50 price target which suggests over 400% potential upside from its closing valuation Friday.

Here's some key details:

• In response to ... problems with traditional MJ, MIRA is developing a compound that offers the benefits of cann-a-bis while minimizing the potential negative side effects. That might sound too good to be true, but we are encouraged by the initial test results we’ve seen and impressed by the leadership and their passion for finding a solution to a problem plaguing a vast number of Americans. MIRA1Aa, as it is known, is being developed as the first prescription drug to target the cann-a-binoid receptors known as CB1 and CB2 for neuropathic pain, anxiety and cognitive enhancements without the impurities of MJ or its side effects...
• MIRA reported 3Q earnings of -$0.26 per share as it continues to test and research its potential groundbreaking therapy. Most importantly, the company reported cash of $5.9Mn, which is vitally important to a company at this stage and even more so due to the tight credit markets facing smaller companies.
• We value MIRA at $16.50 using discounted cash flow analysis and a 20% discount rate.

#3. A recent listing on the Nasdaq Capital Market could draw a ton of visibility to a company flying below Wall Street's radar.

Take a look at the PR:

MIRA Pharmaceuticals, Inc. Announces Pricing of $8.9Mn Initial Public Offering and Nasdaq Listing

BALTIMORE, Aug. 2, 2023 /PRNewswire/ -- MIRA Pharmaceuticals, Inc. (NASDAQ: MIRA) ("MIRA" or the "Company"), a pre-clinical-stage pharmaceutical company focused on the development and commercialization of a new synthetic T-H-C analog, today announced the pricing of its initial public offering of 1.275Mn shares of common st-ock at an initial public offering price of $7.00 per share for aggregate gross proceeds of $8.9Mn, prior to deducting underwriting discounts, commissions and other offering expenses.

...

In connection with the offering, the Company has received approval to have the shares of its common st-ock listed on the Nasdaq Capital Market, with the shares expected to begin trading on August 3, 2023 under the symbol "MIRA".

The Company expects to use the net proceeds from the offering to advance its clinical development programs and for working capital and general corporate purposes.

...

Read the full article here.

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The Top 3 Potential Breakout Catalysts To Know - MIRA Recap

#1. MIRA is a low float profile (volatility will need to be on watch.)

#2. Zacks SCR analyst target of $16.50 starts making headlines.

#3. A recent listing on the Nasdaq Capital Market could draw a ton of visibility to a company flying below Wall Street's radar.

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Coverage is officially initiated on MIRA. When time allows, do this:

Get MIRA on your radar right now.

Sincerely,

Axel Adams

Editor, SCF

(Always Remember The St-ock Prices Could Be Significantly Lower Now From The Dates I Provided.)​