Company: MIRA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024077
Chunk: 20

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 20
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 our shelf registration statement
described in Note 5 of the accompanying financial statements. We will require additional financing to fund our operations, to continue
and complete clinical and clinical development activities and to commercially develop and ultimately launch our product candidates. However,
and particularly given our early-stage nature and the significant time and capital required to implement our business plan, there can
be no assurance that any fundraising will be achieved on commercially reasonable terms, if at all.

On
August 12, 2024, the Company filed a shelf registration statement on Form S-3 with the SEC. The terms of any offering under the shelf
registration statement will be established at the time of such offering and will be described in a prospectus supplement filed with the
SEC prior to completion of any such offering.

We
expect to continue to generate losses in the foreseeable future. Our liquidity needs will be determined largely by the budgeted operational
expenditure incurred in regard to the progression of our product candidates. We do not have sufficient cash and cash equivalents as of
the date of filing this Report to support our operations for at least the 12 months. These conditions raise substantial doubt about our
ability to continue as a going concern through 12 months after the date the financial statements included in this Report are issued.

17

To
alleviate the conditions that raise substantial doubt about our ability to continue as a going concern, we plan to secure additional
capital, through public equity offerings under the ATM Agreement and strategic transactions, including potential alliances and drug product
collaborations; however, none of these alternatives are committed at this time. There can be no assurance that we will be successful
in obtaining sufficient funding on terms acceptable to us to fund continuing operations, if at all, identify and enter into any strategic
transactions that will provide the capital that we will require or achieve the other strategies to alleviate the conditions that raise
substantial doubt about our ability to continue as a going concern. If none of these alternatives are available, or if they are not available
on satisfactory terms, we will not have sufficient cash resources and liquidity to fund our business operations. The failure to obtain
sufficient capital on acceptable terms when needed may require us to delay, limit, or eliminate the development of business opportunities
and our ability to achieve our business objectives and our competitiveness, and our business, financial condition, and results of operations
will be materially adversely affected, or, in the worst case scenario, we could be forced to cease operations and dissolve. In addition,