Company: MIRA
Filing Date: 2025-07-29
Form Type: PRER14A
Source: 0001641172-25-021434
Chunk: 57

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-07-29
Form: PRER14A
Chunk 57
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 that SKNY-1 is its single project, therefore Moore accounted for expected income and expenses related to these indications alone and did not take into consideration developments that SKNY might be performing in the future.

Another assumption made for the sake of the current valuation is that SKNY will develop the two indications on its own until the successful termination of the Phase II clinical trials and following that will seek for a business agreement with a large pharma 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. SKNY will be entitled to an upfront payment at the end of Phase II and royalties from the third-party revenues. The detailed analysis of the DCF Analysis can be reviewed in the valuation reports attached as Annex B to this proxy statement which is incorporated herein by reference

Review of Available Markets

In its analysis, Moore based the potential of SKNY-1 on the total available market of its potential users, which consisted of smokers who use medication to quit smoking. More specifically, Moore assumed that the relevant markets for SKNY-1 in the first years of sales are as follows: U.S.A, Mexico and Canada (collectively, the “Assumed Markets”). The analysis resulted in an approximate total market size of 12,869,780 potential users of SKNY-1 for combatting smoking. For weight loss, Moore applied the same analysis for a similar criterion of potential users in the Assumed Markets, resulting in a total market size of 17,092,086.

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Moore then assumed that the third-party pharmaceutical company with which SKNY will reach a marketing agreement will take the following market share in each of the two indications within the Assumed Markets:

| ● | For SKNY-1 weight loss, over a span of 16 years, it was assumed                           
 that SKNY-1 will obtain a 15% market share, collectively, within the Assumed Markets; and |
| ● | For combatting nicotine dependence, it was assumed that SKNY-1                            
 will obtain a 15% market share, collectively, within the Assumed Markets.                 |

Treatments: Schedule and Price and Upfront Royalties

Moore assumed that SKNY-1 for Nicotine dependence will be given to patients for twelve months at approximately $300 per month and that SKNY-1 for weight loss will be given each month at approximately $900 per month.

Additionally, one of Moore’s main assumptions is that SKNY will