Looks a lot like the air intake on an SR-71. The cone may well move in and out to provide air volume control.
The actual missile would have to have a 10 to 12 diameter to contain the fuel, avionics and warhead to even be a threat and not just a technology demonstrator.
A couple hundred pounds moving at Mach 5 doesn't need any explosives. It is the warhead.
Hmm......Looks like I picked the wrong day to quit sniffin glue!