MIRA Pharmaceuticals Inc ( MIRA ) shares are trading significantly higher on Thursday following the announcement of new preclinical data for its lead candidate Mira-55.

What Happened: MIRA announced preclinical study results showing that oral Mira-55 normalized pain and significantly reduced inflammation in an animal model of inflammatory pain, outperforming injected morphine.

Using pain sensitivity testing and inflammation measurements, oral Mira-55 restored pain responses to baseline levels and directly reduced inflammation, outperforming injected morphine. Morphine provided only partial pain relief and showed only indirect inflammation reduction through central mechanisms.

The study marks the first time MIRA directly measured inflammation alongside pain in the Mira-55 program. Previous research evaluated only pain sensitivity with injected administration. The new data points demonstrate that oral Mira-55 delivered dual benefits — pain relief and inflammation reduction — without sedation or opioid-related risks.

The global market for non-opioid pain treatments was worth $45.3 billion in 2024 and is expected to grow steadily to $70.3 billion by 2030, reflecting a 7.7% annual growth rate. Despite this momentum, chronic inflammatory pain is still a major unmet need, as many current treatments come with safety risks and dependency potential.

MIRA CEO Erez Aminov emphasized that Mira-55 shows strong promise as a next-generation non-opioid therapy. He noted that the results will help the company move ahead with new programs to address major needs in pain management and neuroscience.

MIRA said its findings on oral Mira-55 support its Investigational New Drug (IND) application plans, but further details were not provided. Previous preclinical studies suggested Mira-55 may also improve memory performance and reduce anxiety-related behavior, suggesting it could also help with brain and mental health conditions.

MIRA Price Action: MIRA shares are making quite the splash, shooting up 57.73% to $2.08 at the time of publication on Thursday, per Benzinga Pro. It's one of the stock’s bigger moves in a single day. During the session, MIRA hit a high of $2.45 and a low of $1.98, marking an active trading day with a volume of 98.9 million shares. To put things in perspective, the stock is still 18.5% below its 52-week high, but it’s trading 51.1% above its 50-day moving average.

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