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Tag: MediciNova Inc

  • MediciNova, Inc. (MNOV) Stock Gaining Momentum in Premarket. Here’s why.

    MediciNova, Inc. (MNOV) Stock Gaining Momentum in Premarket. Here’s why.

    MediciNova, Inc. (MNOV) is an innovative biotherapeutics company engaged in the development of therapies for fibrotic, inflammatory, and neurodegenerative disorders. The product candidate MN-166 is studied against amyotrophic lateral sclerosis, DCM, MS, and ARDS. Another product MN-001 is assessed for IPF and NASH.

    The price of MNOV stock during the regular trading on January 31, 2022, was $2.42 with a 6.61% incline. At last check in the premarket on February 1, 2022, the stock further swelled by 6.61%.

    MNOV: Events and Happenings

    MNOV reported that it received the MN-001 patent from the Intellectual Property Office of Korea on February 01, 2022. MN-001 or tipelukast is in clinical trials for treating hyperlipoproteinemia, hypercholesterolemia, and hypertriglyceridemia.

    MNOV announced on January 31, 2022, about the receipt of allowance notification from the Intellectual Property Office of Canada. The company filed a patent application for MN-001 and MN-002 for hepatic ballooning. The company announced on January 27, 2022, about the receipt of notification from the European Patent Office regarding Intention to Grant. The company had filed a patent application for MN-166 to treat alcohol use disorder.

    On January 26, 2022, the company reported the receipt of notification from the European Patent Office for Intention to Grant of MN-001 and MN-002. On December 13, 2021, MNOV reported the receipt of allowance notification from US PTO for MN-166 and riluzole for treating ALS.

    On December 10, 2021, MNOV reported that the management presented its research poster at the Virtual 32nd International Symposium on ALS/MND on December 7 – 10, 2021. The company announced on November 22, 2021, that the management presented at the 26th Annual Meeting of the Society for Neuro-Oncology on November 18-21, 2021.

    MNOV: Key Financials

    MNOV reported its financial results on November 12, 2021, for three months ended September 30, 2021. Some of the key points are as follows.

    Revenue and Assets

    Revenue in Q3 2021 was recorded to be $0.037 million. Total current assets of the company in Q3 2021 were recorded to be $76.1 million.

    Net Loss per Share

    Basic and diluted net loss per share in Q3 2021 was $3.5 million or $0.07 compared to $3.7 million or $0.08 for the same period of 2020.

    Conclusion

    MNOV stock dipped 34% from the past few months due to the impact of pandemics on industrial development. The analysts are associating the current premarket stock incline with its new patent covering in Korea. The company is on the fast track to introduce its product line globally, which will attract more investments in the future.

  • How Has Been The MediciNova (MNOV) Stock Skyrocketing In Premarket Session?

    In premarket trading hours, the shares of Medical Nova Inc. (MNOV) have risen 54.26% to $5.80. Last trading session ended with the stock at $3.76, a decrease of -1.83%. Shares of MNOV ranged in price between $3.71 and $3.86.

    In the past 100 days, MNOV has traded 0.37 million shares, which is lower than its daily average of 0.68 million shares. In the last five days, shares of MNOV have lost -12.15%, while in the last month, they have lost -10.69%. Positive results of a trial have sent MNOV stock soaring today.

    What were the encouraging findings?

    MediciNova is a clinical-stage pharmaceutical company developing therapies for inflammation, fibrosis, and neurodegenerative diseases. The MNOV pipeline consists of 11 clinical trials involving two compounds, MN-166 (ibudilast) and MN-001 (tipelukast), with multiple mechanisms of action and robust safety profiles. MN-166 (ibudilast) is the lead program of MNOV and is now in Phase 3 trials for amyotrophic lateral sclerosis (ALS) and degenerative cervical myelopathy (DCM), and can be prepared for Phase 3 trials for progressive multiple sclerosis (MS).

    MediciNova announced today that positive Phase 2 results from a study of MN-166 (ibudilast) in persons suffering from alcohol use disorder (AUD) are published in Nature’s Translational Psychiatry.

    • A clinical trial was conducted by MNOV in collaboration with Dr. Lara Ray, Professor, Department of Psychology and Department of Psychiatry and Biobehavioral Sciences, University of California at Los Angeles (UCLA).
    • The Center for Study of Opioid Receptors and Drugs of Abuse funded MNOV’s that trial.
    • The purpose of the study was to determine how 14 days of ibudilast treatment would affect mood, heavy drinking, and neural reward signals in individuals with AUD.
    • This trial enrolled 52 patients with AUD.

    Among the findings reported in the publication are:

    • Ibudilast did not significantly influence negative mood.
    • A study comparing ibudilast to a placebo found that 45% less heavy drinking occurred over time.
    • In comparison to placebo, ibudilast reduced activation of the ventral striatum (VS) in response to alcohol cues.
    • Drinking in the ibudilast group was predicted by the activation of the ventral striatum attenuated by the medication, such that individuals taking ibudilast had the fewest drinks per drinking day after the scan.

    What does this indicate?

    The MNOV medication Ibudilast reduced alcohol cravings when taking it instead of a placebo. MediciNova (MNOV) has reported findings supporting the use of ibudilast to treat alcohol dependence and suggest the drug may work by reducing the rewarding response to alcohol cues in the brain, thus reducing heavy drinking.