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Tag: MNOV

  • 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 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.

  • Top Gainers as Positive Market Sentiment Grows

    Top Gainers as Positive Market Sentiment Grows

    The markets are up this afternoon buoyed by hopes of a stimulus package and positive news from big pharma. Pfizer Inc [PFE] was surging earlier in the day on news that the company was in talks with Sanofi, Johnson & Johnson, and the European Union for a possible COVID-19 vaccine distribution deal. Though later news seems to indicate that the deal has hit a snag, it has nonetheless helped push optimism in the market.

    Another news driving market sentiment this afternoon is the launch of several IPOs that include that of Rackspace technology [RXT] and East Resources that has closed its IPO raising a gross of $300 million. IPOs at this time show that companies still have faith in the equity markets despite the volatility brought about by the COVID-19 pandemic. In this environment of optimism, there are big winners in individual stocks. Some of the biggest winners this afternoon are as below:

    MediciNova Inc [NASDAQ:MNOV]

    MediciNova Inc is one of the top gainers in the day and is up by 87.06%. The stock has rallied after the company announced that it had entered into a COVID-19 joint venture with BioComo and Mie University Japan. The vaccine will be developed using a human parainfluenza virus type 2 vector. Under the deal, MediNova now has exclusive rights to the development rights to make use of BC-PV for a SARS-Cov-2 vaccine.

    Commenting on the deal, MediNova CEO has stated that they were happy with this partnership as the world rushes to look for a COVID-`19 vaccine or cure. He added that it was interesting that they were looking at it from an intranasal formulation angle because it could help trigger local mucosal immunity.

    Sogou Inc [NYSE:SOGO]

    This is another top gainer this afternoon and is up 47%. The stock’s rally follows the company’s announcement that it would release its Q2 results on August 17th. The stock’s upside momentum is also buoyed by news that Tencent Holdings was looking to buy it out at $9 a share. This has seen the stock gap up and rallies towards the premium valuation that Tencent Holdings has placed on it. The news of a buyout has come at a time when the market is showing positive momentum.

    Ocugen Inc [NASDAQ:OCGN]

    Ocugen Inc is another top gainer in the day. The stock is up by 45% and is gaining. The rally follows news that the company had been given an Orphan Drug Designation by the FDA for RHO mutation gene-therapy treatment called OCU400. The company CEO stated that this was a major step towards a treatment for Retinal Degenerative Disease.