Mira Pharmaceuticals, Inc.’s (NASDAQ:MIRA) Board of Directors unanimously approved on Thursday the planned acquisition of SKNY Pharmaceuticals, Inc., following the completion of independent valuation reports on both companies.
In March, MIRA Pharmaceuticals signed a binding letter of intent (LOI) to acquire SKNY Pharmaceuticals. Under the terms, MIRA will acquire SKNY through a stock exchange, whereby SKNY shareholders will receive shares of MIRA common stock at a valuation determined by an independent third-party firm.
A third-party analysis conducted by Moore Financial Consulting assigned SKNY Pharmaceuticals an enterprise value of approximately $30.5 million, based on a risk-adjusted net present value (rNPV) of its lead compound, SKNY-1.
Mira was separately valued at $30 million, further validating the strength and synergy of the combined pipeline.
As outlined in the binding letter of intent, the transaction includes a $5 million contribution from SKNY to Mira in cash or other assets, to be transferred at closing.
The company is preparing a filing with the U.S. Securities and Exchange Commission to seek shareholder approval.
As Mira advances this merger, the combined enterprise value of over $60 million, grounded in third-party analysis, represents a strong platform for expansion into high-value therapeutic markets.
Mira CEO Erez Aminov said the acquisition “brings together two pipelines, two market opportunities, and one unified strategy: developing targeted, first-in-class therapies for urgent public health needs.”
SKNY-1 is being developed as a next-generation oral therapeutic designed to modulate CB1 and CB2 cannabinoid receptors, as well as monoamine oxidase B (MAO-B)—an enzyme involved in dopamine metabolism and addiction regulation.
On Tuesday, MIRA Pharmaceuticals released results from a neurotoxicity study of Ketamir-2, its novel oral NMDA receptor antagonist.
Price Action: At the last check Thursday, MIRA stock was down 2.59% at $1.12 during the premarket session.
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