Company: MIRA
Filing Date: 2025-06-17
Form Type: PREM14A
Source: 0001641172-25-015340
Chunk: 19

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-06-17
Form: PREM14A
Chunk 19
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 March 14, 2025, MIRA retained Moore, as a financial advisor in connection with the Merger to conduct a valuation of MIRA and SKNY, and determination of the fairness of the Merger. In arriving at its opinion, Moore, among other things: (i) reviewed certain publicly available business and financial information concerning MIRA and SKNY and the industries in which they operate; (ii) analyzed MIRA’s share pricing as traded on the Nasdaq; (iii) reviewed certain internal financial analyses and forecasts prepared by MIRA’s and SKNY’s finance departments, delivered to Moore through written materials including Excel sheets, and orally, in several meetings and discussions throughout the valuation process; and (iv) performed such other financial studies and analyses and considered such other information as Moore deemed appropriate for the purposes of its opinion. The forecasts were provided to Moore in March 2025. These forecasts were predicted and based on projections through comparisons to a peer group consisting of publicly-listed pharmaceutical companies similar to SKNY’s area of focus. The peer group consisted of the following entities, which are all in the pharmaceutical industry: Eli Libby and Company (NYSE: LLY), Johnson & Johnson (NYSE: JNJ), AbbieVie Inc (NYSE:ABBV), Merck & Co., Inc. (NYSE:MRK), Amgen Inc. (Nasdaq:AMGN), Gilead Sciences, Inc. (Nasdaq:GILD), Pfizer Inc. (NYSE:PFE), Bristol-Myers Squibb Company (NYSE:BMY), Biogen Inc. (NYSE:BIIB) and Organon & Co. (NYSE:OGN). Moore also assumed that the FDA timelines and drug development process for these comparable companies presented in the forecast would be similar to the timeline for SKNY. Additionally, SKNY presented forecasts of the anticipated demand over the next few years for its pharmaceutical products. This included the expected prevalence of smoking and obesity across certain geographic and existing treatment gaps. In addition to the above, Moore held discussions with certain members of the management of MIRA and SKNY about the Merger, and the past and current business operations of MIRA and SKNY, the financial condition and future prospects and operations of MIRA and SKNY, and certain other matters Moore believed necessary or appropriate for its inquiry. For a summary of Moore’s fairness opinion and valuation report, please see page 27.

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Overview of the Merger Agreement and Agreements Related to the Merger