Mira Pharmaceuticals Reports $1.54 Million Net Loss in Q2 2025, Pursues Acquisition of SKNY Pharmaceuticals

Mira Pharmaceuticals, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $1.54 million for the three months ending June 30, compared to a loss of $1.69 million during the same period in 2024. The company did not generate any revenue during this quarter, consistent with its previous fiscal periods. For the first half of 2025, the net loss totaled approximately $3.32 million, slightly improved from a loss of $3.41 million in the first half of 2024. The basic and diluted loss per share for the second quarter was $0.09, compared to $0.11 in the prior year.

Mira Pharmaceuticals experienced a significant decrease in total assets, which fell to $868,318 as of June 30, 2025, down from $2.92 million at the end of 2024. This decline was primarily attributed to a reduction in cash reserves, which decreased from $2.83 million to $730,475 over the same period. Current liabilities also decreased from $723,350 to $298,459, reflecting a reduction in trade accounts payable. Stockholders' equity dropped to $569,859, down from $2.20 million at the end of the previous fiscal year, largely due to ongoing operational losses.

Strategically, the company is pursuing an acquisition of SKNY Pharmaceuticals, Inc., which is expected to enhance its product pipeline. The merger, announced in March 2025, is contingent upon an independent valuation and shareholder approval, with a vote scheduled for September 11, 2025. This acquisition is anticipated to provide a $5 million capital infusion, which would bolster Mira's financial position. Additionally, the company has made progress in its clinical development programs, including the ongoing Phase 1 trial of its lead candidate, Ketamir-2, and the formulation of a topical version of the drug.

Operationally, Mira Pharmaceuticals has not reported any significant customer counts or user statistics, as it remains in the clinical development stage. The company has focused on advancing its drug candidates, with plans to initiate a Phase IIa clinical trial for Ketamir-2 by the end of 2025. The company’s employee headcount remains stable, although specific figures were not disclosed in the filing. The outlook for the company remains cautious, as it continues to seek additional funding to support its operations and clinical trials, with management expressing uncertainty about its ability to continue as a going concern without securing further capital.

In summary, Mira Pharmaceuticals is navigating a challenging financial landscape while pursuing strategic growth through potential acquisitions and ongoing clinical trials. The company’s ability to secure additional funding will be critical to its future operations and development efforts.