MediciNova, Inc. (NASDAQ: MNOV) is having an incredible time in the pre-market hours this morning, and for good reason. The company recently released interim exploratory clinical outcomes with regard to a key treatment, and the data was positive. As a result, investor excitement ensued and the stock started gaining in a big way. This prompted our partners at Trade Ideas to alert us to the movement. At the moment (8:51), MNOV is trading at $6.75 per share after a gain of $1.18 per share or 21.18% thus far today.
MNOV Reports Positive Data
As mentioned above, MediciNova is having an incredibly strong start to the day today after presenting exploratory interim data from the company’s ongoing clinical trial of MN-166 (ibudilast). The medication is designed for the treatment of amyotrophic lateral sclerosis. The interim data showed that survival rate after open-label period was significantly higher in the group of patients who completed the entire treatment than it was for the group of patients who withdrew prior to the open-label period. In a statement, Dr. Benjamin Brooks, Director at Carolinas HeathCare System’s Neuromuscular/ALS-MDA Center had the following to say with regard to the MNOV data…
“We are encouraged by the interim data thus far from this exploratory analysis. This sub-group analysis suggests that the bulbar-onset ALS patient may be a target for future clinical trials because we found no change in lower motor neuron ALS burden on the Brisbane-Sydney UMN LMN ALS Burden Scale in this subgroup, but further analysis is needed as perhaps this is not the only responsive group but only the group that we can see in a clinical trial designed as we did.”
Stop wasting your time! Find winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on MNOV. In particular, we’re interested in following the company through the development and eventually commercialization of MN-166. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Want The News Faster?
Check out the CNA Finance News Desk to get the scoop before we have time to write the full story!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!