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Cannabinoid drug developer Mira Pharmaceuticals (MIRA) has reduced its proposed IPO to $7 million from $16 million.
In its most recent filing, Mira said that it now intends to offer 1 million shares at a price between $6 and $8, which would bring in around $7 million at a price the middle-point. The underwriters would be given a 45-day option to purchase up to 150,000 additional shares at the IPO price.
The biotech hopes to list its shares on the Nasdaq under the symbol MIRA. Kingswood Investments is acting as Lead Bookrunner.
Maryland-based Mira plans to submit an application to the FDA in late Q3 2024 to begin clinical testing of its lead drug MIRA 1a to treat older people with anxiety and some cognitive decline.
Mira first filed for an IPO in June, asking around $16 million.
More about Mira:
Cannabinoid-based drug developer Mira files for $16 million IPO
MIRA Pharmaceuticals begins US IPO
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