Company: MIRA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024077
Chunk: 21

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 21
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the perception that we may not be able to continue as a going concern may cause others to choose not to deal with us due to concerns
about its ability to meet our contractual obligations.

We
did not have any material non-cancellable contractual obligations as of June 30, 2025.

Cash
Flows

The
following table provides information regarding our cash flows for the periods presented:

    Six
    months Ended June 30, 

    2025  
    2024 
  
    Net cash flows from: 

    Operating activities 
    $(2,429,678) 
    $(1,913,465)
  
    Financing
    activities 
     327,222  
     134,680 
  
    Net change in cash 
    $(2,102,456) 
    $(1,778,785)

Net
Cash Flows from Operating Activities

The
cash used in operating activities resulted primarily from our net losses, offset by stock-based compensation expense, changes in
prepaid expenses and changes in components of accounts payable and accrued expenses.

For
the six months ended June 30, 2025, operating activities used $2.4 million of cash. This was primarily driven by a net loss of $3.3 million and $0.5 million used to pay down accounts payable and
prepaid expenses. These outflows were partially offset by $1.4 million in stock-based compensation expense. Accounts payable, as well
as accrued and prepaid expenses, primarily related to research and development costs, consultant fees, and insurance expenses.

For
the six months ended June 30, 2024, operating activities used $1.9 million of cash from the ATM. This was primarily driven by a net loss of $3.4
million and $0.4 million used to pay down accounts payable and prepaid expenses. These outflows were partially offset by $1.1
million in stock-based compensation expense. Accounts payable, as well as accrued and prepaid expenses, primarily related to
research and development costs, consultant fees, and insurance expenses.

Net
Cash Flows from Financing Activities

For
the six months ended June 30, 2025, financing activities provided $0.3 million of cash, resulting from proceeds from sale of common stock
from the ATM, less offering costs.

For
the six months ended June 30, 2024, financing activities provided $0.1 million of cash, resulting primarily from $0.