Ketamine may have therapeutic potential for something new: neuropathic pain.
What’s happening:
- MIRA Pharmaceuticals (NASDAQ: MIRA) has announced new pre clinical data validating that their novel oral ketamine analogue known as Ketamir-2 has shown efficacy in significantly reducing neuropathic pain
The big idea:
- The oral ketamine analogue Ketamir-2 being developed by MIRA Pharmaceuticals is aiming to provide pain relief without any psychoactive or hallucinogenic effects to patients suffering with neuropathic pain
- Neuropathic pain is notoriously difficult to treat due to the complexity of the nervous system and the fact it is not being caused by underlying pathology
Why it matters:
- Ketamine has enormous clinical validation and scientific research supporting its ability to reduce pain symptoms, however it has also typically come with severe psychotropic side effects which are undesirable for many individuals
- Psychedelic derived medicines have been beginning to move closer towards regulatory approvals, with publicly listed psychedelic drug development companies Cybin (NYSE: CYBN) and MindMed (NASDAQ: MNMD) previously being granted Breakthrough Therapy designations by the FDA
Going deeper:
- MIRA Pharmaceuticals also plans to begin conducting studies on Ketamir-2 for its therapeutic potential in patients who are suffering from cancer induced depression and neuropathic pain
- Johnson and Johnson’s FDA approved esketamine spray Spravato previously made waves when new clinical research showed that it was more effective for reducing symptoms of Treatment Resistant Depression than popular anti depressant medication Quetiapine
Market reaction:
- Shares of MIRA Pharmaceuticals were up +14% following the announcement of their pre clinical data for Ketamir-2
