MediciNova, Inc. (NASDAQ: MNOV) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced clinical data that led to excitement among investors, sending the stock on a strong path to the top. However, looking into the data, while it was positive, there’s one key problem that could lead to a long time in clinical development… Something that potential investors should definitely consider. Today, we’ll discuss:
- The data released by MNOV;
- What we’re seeing from the stock as a result;
- The risks that you should consider;
- and what we’ll be watching for ahead.
MNOV Announces Positive Data
As mentioned above, MediciNova is having an overwhelmingly strong start to the trading session this morning after releasing positive clinical data. Recently, the company announced that according to investigators, MN-001 (tipelukast) has proven to reduce mean serum triglicerides from an average of 260.1 mg/dL before treatment to 185.2 mg/dL after 8 weeks of treatment. This proved to be overwhelmingly positive as this was the primary endpoint of the recent clinical trial. The trial was developed by MNOV to address the potential therapy for NASH as well as NAFLD. In a statement, Yuichi Iwaki, CEO at MNOV, had the following to offer:
Based on the results of this study, along with the triglyceride data we have from prior clinical studies of MN-001 in other indications, we believe that MN-001 has potential to benefit a wide range of patients with hypertriglyceridemia, not limited to those with NASH and NAFLD.
What We’re Seeing From The Stock As A Result Of The News
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. This particular case was no different. At the end of the day, the news released by MediciNova proved to be overwhelmingly positive. So, it’s no surprise that excited investors are pushing the stock toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:35), MNOV is trading at $12.66 per share after a gain of $2.44 per share or 23.88% thus far today.
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