SKNY-1 Shows Favorable Oral Bioavailability, Brain Penetration in Preclinical Study
MIRA is trading near its 52-week low of $0.9 (8.0% above the low) on light trading volume (0.4× avg).
Summary
MIRA Pharmaceuticals reported positive preclinical pharmacokinetic and formulation results for its drug candidate SKNY-1. The data showed favorable oral bioavailability and robust brain and liver penetration, supporting potential once-daily dosing. This follows earlier positive preclinical data for SKNY-1 announced on May 13th and the securing of worldwide rights for the program on June 4th. For a small biotech, these preclinical PK results are crucial as they de-risk the drug's development, indicating it can be effectively delivered and reach target tissues, which is vital for advancing SKNY-1 towards clinical trials.
At the time of this announcement, MIRA was trading at $0.97 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $39.7M. The 52-week trading range was $0.90 to $2.45. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.