Company: MIRA
Filing Date: 2025-06-17
Form Type: PREM14A
Source: 0001641172-25-015340
Chunk: 198

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-06-17
Form: PREM14A
Chunk 198
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arma company that will perform the Phase III clinical trials (on its own account) and after the successful conclusion of the trials will continue and market the finished products. Mira will be entitled to an upfront payment at the end of Phase II and royalties from the third-party revenues.

| Moore Financial Consulting |

| MIRA Pharmaceuticals, Inc. | April 2025    |
| Valuation                  | Page 20 of 28 |

Timeline of the development of the Indications

Based on information received from the company and our own research we have assumed the following regarding the development of Ketamir-2 and Mira-55:

The timeline is presented in the following chart:

| Moore Financial Consulting |

| MIRA Pharmaceuticals, Inc. | April 2025    |
| Valuation                  | Page 21 of 28 |

Total Available Markets

The company holds exclusive license rights in the U.S, Canada and Mexico for ketamir-2, therefore our estimations of these potential markets are solely based on these geographical markets. We made the same assumption regarding the Mira-55 markets.

Ketamir-2 (DNP)

Ketamir-2 is intended for the treatment of Diabetic Neuropathic Pain (DNP). Our estimations of the Ketamir-55 market size are based on the adult populations of North American countries, the prevalence of Diabetes and DNP in these populations.

Mira-55 (MCI)

The above figures are based on the current adult populations in each of the geographical markets. The valuation is performed based on estimations of the future populations in these markets.

| Moore Financial Consulting |

| MIRA Pharmaceuticals, Inc. | April 2025    |
| Valuation                  | Page 22 of 28 |

Market Share

Our assumptions regarding the market shares of each indication in all the markets are as follows:

Treatments: Schedule and Price

Our assumption regarding the eventual medication sale prices are as follows:

Prices are based on existing prices of branded products used for these indications nowadays. Third-party revenue is 70% of the retail sale prices (Mira’s revenue is calculated according to the royalty rate assumed).

Upfront and Royalties

As mentioned, one of the main assumptions is that the Company will continue developing and testing the Ketamir-2 and Mira-55 until the successful termination of phase II clinical trials and afterward will come to an agreement with a large pharmaceutical company that will take charge of the continuation of the clinical testing (Phase III) and