MIRA Pharmaceuticals, Inc. $(MIRA)$ has announced promising results from a preclinical study evaluating its new topical formulation, Ketamir-2, in a rodent model of pain. The study demonstrated that Topical Ketamir-2 significantly reduced both acute and inflammatory pain behaviors, with efficacy comparable to injected morphine across both phases of pain. The study used a formalin-induced pain model and involved behavioral analysis over a 60-minute period. Results showed that in the acute phase, the treatment nearly eliminated paw licking and significantly reduced paw lifting, aligning closely with the effects observed in morphine-treated animals. In the inflammatory phase, the formulation maintained significant reduction in pain behaviors. These findings support further investigation of Topical Ketamir-2 as a potential non-opioid treatment for various localized pain conditions, such as diabetic neuropathy and osteoarthritis. MIRA is currently conducting a Phase 1 clinical trial of oral Ketamir-2 and plans to initiate a Phase 2a study in neuropathic pain later in 2025. Further pharmacological and toxicological assessments of the topical formulation are ongoing.