Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 46

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 46
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 in the marketplace.

Our
success will depend, in part, on our ability to obtain patents, protect our trade secrets and operate without infringing on the proprietary
rights of others. We may rely upon a combination of patents, trade secret protection (i.e., know-how), trademarks, licenses, and confidentiality
agreements to protect the intellectual property of our product candidates. The strengths of patents in the pharmaceutical field involve
complex legal and scientific questions and can be uncertain. Where appropriate, we seek patent protection for certain aspects of our
products and technology. However, patent protection for naturally occurring compounds is exceedingly difficult to obtain, defend and
enforce. Filing, prosecuting and defending patents throughout the world would be prohibitively expensive, so our policy is to look to
patent technologies with commercial potential in jurisdictions with significant commercial opportunities. However, patent protection
may not be available for some of the products or technology we are developing. If we must spend significant time and money protecting,
defending, or enforcing our patents, designing around patents held by others or licensing, potentially for large fees, patents or other
proprietary rights held by others, our business, results of operations and financial condition may be harmed. We may not develop additional
proprietary products that are patentable.

The
patent positions of pharmaceutical products are complex and uncertain. The scope and extent of patent protection for our product candidates
are particularly uncertain. To date, our principal product candidates have been based on specific formulations of certain previously
known cannabinoids found in nature in the cannabis sativa plant. While we have sought patent protection, where appropriate, directed
to, among other things, composition-of-matter for our specific formulations, their methods of use, and methods of manufacture, we do
not have and will not be able to obtain composition of matter protection on these previously known cannabinoids per se. We anticipate
that the products we develop in the future will continue to be based on the same or other naturally occurring compounds, as well as additional
synthetic compounds we may discover. Although we have sought and expect to continue to seek patent protection for our product candidates,
their methods of use, and methods of manufacture, any, or all of them may not be subject to effective patent protection. If any of our
products are approved and marketed for an indication for which we do not have an issued patent, our ability to use our patents to prevent
a competitor from commercializing a non-branded version of our commercial products for that non-patented indication could be