Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 49

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 49
---
 inventions. As a result, the issuance, scope, validity,
enforceability and commercial value of our patent rights are highly uncertain. Our pending and future patent applications may not result
in patents being issued which protect our technology or products, in whole or in part, or which effectively prevent others from commercializing
competitive technologies and products. Changes in either the patent laws or interpretation of the patent laws in the EU, the United States
and other countries may diminish the value of our patents or narrow the scope of our patent protection.

The
risks described pertaining to our patents and other intellectual property rights also apply to the intellectual property rights that
we license, and any failure to obtain, maintain and enforce these rights could have a material adverse effect on our business. In some
cases, we may not have control over the prosecution, maintenance or enforcement of the patents that we license, and our licensors may
fail to take the steps that we believe are necessary or desirable in order to obtain, maintain and enforce the licensed patents. Any
inability on our part to protect adequately our intellectual property may have a material adverse effect on our business, operating results
and financial position.

The
USPTO and various non-U.S. governmental patent agencies require compliance with several procedural, documentary, fee payment and other
similar provisions during the patent application process. In certain situations, non-compliance can result in abandonment or lapse of
the patent or patent application, resulting in partial or complete loss of patent rights in the relevant jurisdiction. In such an event,
our competitors might be able to enter the market and this circumstance would have a material adverse effect on our business.

In
addition, we acquired rights to Ketomir-2 through a license agreement with MIRALOGX and may in the future enter into other license agreements
with third parties for other intellectual property rights or assets. These license agreements may impose various diligence, milestone
payment, royalty, and other obligations on us. If we fail to comply with our obligations under these agreements, or we are subject to
a bankruptcy, we may be required to make certain payments to the licensor, we may lose the exclusivity of our license, or the licensor
may have the right to terminate the license, in which event we would not be able to develop or market products covered by the license.
Additionally, the milestone and other payments associated with these licenses will make it less profitable for us to develop our drug
candidates than if we had developed the licensed technology internally.

In