STOCKS TELEGRAPH

Tag: MNOV Stock

  • 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.

  • MediciNova, Inc. (MNOV) Stock Skyrocketed on Tuesday, Here’s the Reason

    MediciNova, Inc. (MNOV), a biopharmaceutical company, has plunged 1.81% in aftermarket trading session. Consequently, MNOV is trading at $4.41 at the time of the writing. On Tuesday, MNOV closed the day at $4.42 after surging 43.97% during regular trading hours. The consistent increase could be attributed to a positive development regarding a preclinical study of MN-166.

    Why MNOV Rising?

    On Monday, MNOV announced the results from a pre-clinical study of MN-166 in a combination with the PD-1 inhibitor. The results were presented at the 26th annual meeting of the Society for Neuro-Oncology (SNO). The data was taken from a study involving MN-166 and a PD-1 inhibitor in a glioblastoma pre-clinical model. After the GBM orthotopic tumours were injected, a mouse was treated with the control with a PD-1 antibody alone as well as in combination with MN-166. The median survival for the mice which was treated with PD-1 antibody was 28 days. For the combination of MN-166 and PD-1 antibody, the median survival increased to 66 days.

    Q3 2021 Financial Highlights

    On 12th November, MNOV released the financial results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company had cash and cash equivalents of $75.02 million on 30th September 2021. The total revenue generated by the company during the period was $37,500. The total operating expenses for the three months were $3.63 million against $3.73 million for the same period of 2020. The comprehensive loss suffered by the company during the quarter was $3.58 million against $3.70 million for the same period of 2020. The net loss per basic and diluted share for the period was $0.07 against $0.08 for the same quarter of 2020.

    Executive Commentary

    Yuichi Iwaki, M.D., Ph.D., President and Chief Executive Officer of MNVO, while commenting on the results said that even though the company incurred significant losses since its inception, he remains optimistic keeping in mind the future scenario for the company. He said that the company would continue with certain of the product development programs and in the long-term is aiming to expand its research and development program.

    Future Outlook for MNOV

    The last three months have seen MNOV stock increase by more than 15%, a positive sign when compared with the results for 12 months. Analysts hope that the positive developments associated with MN-166 could take the stock even further in the future to come. So, potential investors should keep a close eye on the stock.

  • MediciNova, Inc. (MNOV) Stock Undergoes Minor Volatility Ahead of Patent for MN-166

    MediciNova, Inc. (MNOV) stock prices were down by a marginal 0.96% as of the market closing on July 2nd, 2021, bringing the price per share down to USD$4.11 at the end of the trading day. Subsequent premarket fluctuations have seen the stock climb by 4.14%, bringing it up to USD$4.20.

    Patent for MN-166

    July 6th 2021 saw the company announce that it had received a Notice of Allowance from the U.S Patent and Trademark Office for a pending patent application in regard to the treatment of ophthalmic disease with MN-166 (ibudilast). Upon issuance, the patent resulting from the application process is expected to last until at least October 2039.

    Details of the Patent

    The patent covers the administration of effective amounts of MN-166 to human patients in the interest of treating ophthalmic disease/disorder or injury associated with a neurodegenerative disease/disorder or a neuro-opthalmologic disorder. The allowed claims specifically cover macular injury treatment while also covering a wide range of doses and formulations of the treatment, across a range of different dosing frequencies.

    MN-166

    The small molecule compound, MN-166, inhibits PDE4 and inflammatory cytokines, including macrophage migration inhibitory factor. The treatment is in late-stage clinical development, with the aim of treating neurodegenerative diseases such as ALS, progressive MS, and DCM. The treatment also has the potential to treat glioblastoma, CIPN, and substance abuse disorders.

    Scope of MN-166

    Previous positive data from a glaucoma animal model study and a retinal damage animal model study have already established the potential of MN-166 as a treatment for ophthalmic neurodegenerative diseases. November 2020 saw the company report positive Optical Coherence Tomography results from the SPRINT-MS Phase 2b trial of MN-166 in the treatment of progressive multiple sclerosis. Patent approval will significant increase the potential commercial value of MN-166, having been provided with more opportunities for further development.

    About MNOV

    The company is a clinical-stage biopharmaceutical entity that develops a varied, late-stage pipeline of innovative small molecule therapies. These therapies are designed to treat inflammatory, fibrotic, and neurodegenerative diseases. The company has 11 programs currently in clinical development, based on its two compounds, MN-166 and MN-001, with each having multiple mechanisms of action and strong safety profiles.

    Future Outlook for MNOV

    Armed with the massive unlocked potential of the commercialization of MN-166 with the recent patent approval, MNOV is poised to capitalize on the expanded arsenal of opportunities ahead of it. Current and potential investors are keen for the proliferation of the treatment that will usher in unprecedented gains in shareholder value.

  • 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.