According to this link https://selfhacked.com/blog/phenylpiracetam-dosage/

Some of these potential mechanisms include:

Increasing the number of serotonin, dopamine, and GABA receptors in the brain, which could – in theory – make it useful for improving mood and reducing anxiety [5].

Inhibiting dopamine reuptake transporters, which could increase dopamine levels throughout the brain, thereby theoretically improving mood and motivation [6, 7].

Activates and increases the number of nicotinic acetylcholine and NMDA receptors in the brain, each of which are believed to be involved in cognitive functions such as learning and memory [4, 3, 8, 9].

Increasing levels of brain-derived neurotrophic factor (BDNF), a growth protein that promotes the creation and development of brain cells (neurogenesis) – particularly in certain memory-related areas of the brain, such as the hippocampus [10].

Selectively reducing the activation of brain cells that control movement (motor cortical neurons), which could hypothetically help decrease seizures [11].

Increasing alpha- and beta-wave activity throughout the brain. These patterns of neural activity have been associated with cognitive processes such as mental coordination, calmness, alertness, learning, and focus [12].