Why Is Mira Pharmaceuticals (MIRA) Stock Up 52% Today?

  • Mira Pharmaceuticals (MIRA) stock is taking off on Friday alongside a preclinical update.
  • The company has discovered a new molecule while testing MIRA1a.
  • It has named it MIRA-55 and is favoring it for development over MIRA1a.
MIRA Stock - Why Is Mira Pharmaceuticals (MIRA) Stock Up 52% Today?

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Mira Pharmaceuticals (NASDAQ:MIRA) stock is rising on Friday after it provided investors with an interesting preclinical trial update.

The company has been investigating its preclinical studies of MIRA1a. This is an oral pharmaceutical marijuana drug candidate in development at the company.

The exciting news here is that an error in the production of MIRA1a resulted in a new molecule being created instead. Mira Pharmaceuticals has named this MIRA-55.

What’s piquing investors’ interest even more are the company’s statements about this molecule. Preclinical trials have found it to be more potent and have a greater potential for efficacy. As a result, Mira Pharmaceuticals is switching development to focus on MIRA-55 while retaining its rights to MIRA1a.

How This Affects MIRA Stock

With this news comes heavy trading of MIRA stock on Friday. That has more than 6 million shares of the stock changing hands as of this writing. For comparison, the company’s daily average trading volume is closer to 232,000 shares.

MIRA stock is up 51.7% as of Friday morning.

Investors will find more of the hottest stock market news below!

We have all of the latest stock market stories worth reading about on Friday! Among that is what has shares of Ainos (NASDAQ:AIMD) stock up, the biggest pre-market stock movers this morning and more. All of this news is ready to go at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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