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.
