LA JOLLA, Calif., May 28, 2024 (GLOBE NEWSWIRE) -- MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ: MNOV) and the Standard Market of the Tokyo Stock Exchange (Code Number: 4875), today announced that MediciNova conducted two poster presentations at the 92nd European Atherosclerosis Society (EAS) 2024 Congress held online May 26-29, 2024. MediciNova's Chief Medical Officer, Kazuko Matsuda, MD PhD MPH presented an update on the Company's "STUDY PROTOCOL TO EVALUATE MN- ...

LA JOLLA, Calif., May 20, 2024 (GLOBE NEWSWIRE) -- MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ:MNOV) and the Standard Market of the Tokyo Stock Exchange (Code Number: 4875), today announced that it has received a Notice of Allowance from the U.S. Patent and Trademark Office for a pending patent application which covers MN-166 (ibudilast) for the prevention of metastasis of eye cancer. Once issued, this patent is expected to expire no earlier than July 2042. The a ...

Financial Performance - Total current assets decreased from $51,174,380 on December 31, 2023, to $47,863,595 on March 31, 2024, a decline of approximately 6.4%[15] - Operating expenses increased to $3,135,993 for the three months ended March 31, 2024, compared to $2,963,243 for the same period in 2023, representing a rise of about 5.8%[17] - The net loss for the first quarter of 2024 was $2,754,518, a slight improvement from the net loss of $2,917,504 in Q1 2023, indicating a reduction of approximately 5.6%[17] - Cash and cash equivalents decreased from $50,999,442 at the beginning of the period to $47,138,799 at the end of March 2024, a decrease of about 7.5%[22] - The total stockholders' equity decreased from $62,378,424 on December 31, 2023, to $59,830,444 on March 31, 2024, a decline of about 4.4%[15] - The company reported interest income of $397,510 for Q1 2024, down from $509,046 in Q1 2023, reflecting a decrease of approximately 22%[17] - The company’s cash flow from operating activities for Q1 2024 was $(3,868,248), compared to $(3,177,413) in Q1 2023, indicating an increase in cash used in operations[22] - The accumulated deficit of the company reached $418.5 million as of March 31, 2024, indicating significant net losses since inception[68] Research and Development - Research and development expenses totaled $1,781,869 for Q1 2024, up from $1,476,676 in Q1 2023, marking an increase of approximately 20.6%[17] - The company plans to advance the development of MN-166 (ibudilast) through a combination of investigator-sponsored clinical trials and trials funded by government grants[70] - The company has incurred research, development, and patents expenses primarily related to clinical development, with expectations to increase these costs through the remainder of 2024[76] - Research, development, and patents expenses increased to $1.8 million for the three months ended March 31, 2024, compared to $1.5 million in the same period of 2023, primarily due to higher manufacturing costs for MN-166[85] - Future potential milestone payments for product development total $26.5 million as of March 31, 2024, with $10 million related to MN-166 and MN-001[48] Stock and Equity - The company has maintained its common stock at 49,046,246 shares issued and outstanding as of March 31, 2024, consistent with the previous quarter[19] - As of March 31, 2024, 1,355,923 shares remain available for future grants under the 2023 Equity Incentive Plan[52] - The Company adopted the 2023 Equity Incentive Plan in June 2023, succeeding the 2013 Plan, with a maximum of 9,934,567 shares potentially available for issuance[51] - As of March 31, 2024, the company had a total of 1,016,000 shares underlying performance options subject to vesting based on achievement of corporate objectives for 2024[53] - The total stock-based compensation expense for the three months ended March 31, 2024, was $215,430, a decrease of 46.5% compared to $403,263 for the same period in 2023[56] - The weighted-average fair value of each stock option granted during the three months ended March 31, 2024, was $1.00, down from $1.60 in 2023[58] - As of March 31, 2024, there were 8,578,644 potentially dilutive outstanding stock options excluded from diluted net loss per share due to their anti-dilutive effect[63] Lease and Operating Expenses - The Company reported cash paid for operating lease liabilities of $64,594 for the three months ended March 31, 2024, compared to $64,990 for the same period in 2023[45] - Total operating lease liabilities as of March 31, 2024, amounted to $569,072, down from $626,586 as of December 31, 2023[45] - The weighted-average remaining lease term is 2.60 years, with a weighted-average discount rate of 9.3%[45] - General and administrative expenses decreased to $1.4 million for the three months ended March 31, 2024, from $1.5 million in the same period of 2023, mainly due to a reduction in performance-based stock option expenses[86] Strategic Partnerships and Future Plans - The company intends to pursue strategic partnerships with leading pharmaceutical companies to support clinical development and commercialization of its products[70] - The Company is currently evaluating the potential impact of ASU 2023-07 on its consolidated financial statements and related disclosures, effective for fiscal years beginning after December 15, 2023[39] - The company has not made any milestone payments under its licensing agreements during the three months ended March 31, 2024[48] - The company believes it carries reasonably adequate insurance for product liability risks associated with its drug products[46] - The company has not experienced any material changes in its critical accounting policies during the three months ended March 31, 2024[82] Cash Position - As of March 31, 2024, the company had available cash and cash equivalents of $47.1 million and working capital of $45.4 million, sufficient to fund operations at least through the end of 2025[90] - Net cash used in operating activities was $3.9 million for the three months ended March 31, 2024, compared to $3.2 million in the same period of 2023, reflecting a $0.7 million change related to decreased net loss[88] - The company has not sold any shares of common stock under the ATM Agreement in the three months ended March 31, 2024, and 2023[61] - No shares of common stock were sold under the at-the-market issuance sales agreement in the three months ended March 31, 2024, and 2023[92]

LA JOLLA, Calif., May 07, 2024 (GLOBE NEWSWIRE) -- MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ:MNOV) and the Standard Market of the Tokyo Stock Exchange (Code Number: 4875), today announced that it has received an issue notification from the U.S. Patent and Trademark Office for a new patent which covers extended-release oral formulations of MN-166 (ibudilast). This new patent is expected to expire no earlier than September 2040. The allowed claims cover a formula ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from. to Commission file number: 001-33185 MEDICINOVA, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 33-0927979 (State or Other Jurisdiction of Inc ...

Financial Performance - Revenues for the three months ended September 30, 2023, were $1,000,000, compared to $0 for the same period in 2022, indicating a significant revenue generation[16] - The net loss applicable to common stockholders for the three months ended September 30, 2023, was $723,107, a decrease from $3,652,184 in the same period of 2022, showing an improvement of approximately 80%[16] - Revenues for the three months ended September 30, 2023, were $1.0 million, an increase from $0.0 million in the same period of 2022, due to a milestone payment under the Genzyme Agreement[83] - For the nine months ended September 30, 2023, revenues were $1.0 million, consistent with the three-month results, attributed to the Genzyme Agreement milestone payment[87] Cash Flow and Liquidity - Cash and cash equivalents increased to $51,507,361 as of September 30, 2023, up from $18,505,493 at December 31, 2022, representing a growth of approximately 178%[14] - The company reported a net cash used in operating activities of $6,931,978 for the nine months ended September 30, 2023, compared to $8,904,519 for the same period in 2022, indicating a reduction of about 22%[20] - Cash provided by investing activities was $39,907,694 for the nine months ended September 30, 2023, compared to cash used of $10,000,000 in the same period of 2022, reflecting a positive shift in cash flow[20] - As of September 30, 2023, the company had available cash and cash equivalents of $51.5 million and working capital of $50.2 million, sufficient to fund operations at least through the end of 2024[94] Operating Expenses - Total operating expenses decreased to $2,146,888 for the three months ended September 30, 2023, down from $3,897,467 in the same period of 2022, reflecting a reduction of approximately 45%[16] - Research, development, and patents expenses decreased to $0.8 million for the three months ended September 30, 2023, from $2.5 million in 2022, primarily due to reduced manufacturing expenses for MN-166[84] - Research, development, and patents expenses for the nine months ended September 30, 2023, were $4.0 million, down from $7.1 million in 2022, mainly due to decreased manufacturing expenses[88] - General and administrative expenses remained stable at $1.4 million for the three months ended September 30, 2023, compared to the same period in 2022[85] - General and administrative expenses increased to $4.4 million for the nine months ended September 30, 2023, compared to $4.3 million in the same period of 2022, reflecting a $0.1 million rise primarily due to performance-based stock option expenses[89] Assets and Equity - Total assets decreased to $68,136,561 as of September 30, 2023, from $74,154,905 at December 31, 2022, a decline of about 8%[14] - Total stockholders' equity decreased to $64,669,252 as of September 30, 2023, down from $70,242,035 at December 31, 2022, representing a decrease of approximately 8%[14] Research and Development - MediciNova's research and development costs totaled $0.7 million for Q3 2023, down from $2.4 million in Q3 2022, and $3.7 million for the nine months ended September 30, 2023, compared to $6.8 million for the same period in 2022[31] - The company is focused on developing MN-166 (ibudilast) for multiple neurological disorders and MN-001 (tipelukast) for fibrotic diseases, with plans for strategic partnerships to support product development[69] - The company has experienced slower enrollment in clinical trials due to the COVID-19 pandemic but has seen an increase in patient visits recently[70] Stock and Equity Compensation - Total stock-based compensation expense for the three months ended September 30, 2023, was $219,142, up 38.4% from $158,298 in the same period of 2022[58] - As of September 30, 2023, there were 8,304,749 stock options outstanding, with a weighted average exercise price of $5.34[56] - The estimated fair value of stock options granted during the nine months ended September 30, 2023, was $1.60, compared to $1.47 for the same period in 2022[60] - The Company has 1,629,818 shares available for future grants under the 2023 Equity Incentive Plan as of September 30, 2023[53] Other Financial Metrics - The basic and diluted net loss per common share for the three months ended September 30, 2023, was $0.01, an improvement from $0.07 in the same period of 2022[16] - Interest income increased to $0.4 million for the three months ended September 30, 2023, from $0.3 million in 2022, driven by higher interest rates[86] - Interest income rose significantly to $1.4 million for the nine months ended September 30, 2023, up from $0.4 million in 2022, marking a $1.0 million increase driven by higher interest rates[90] - The accumulated deficit was $413.6 million, with expectations of substantial net losses continuing for several years[68]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number: 001-33185 MEDICINOVA, INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q Commission file number: 001-33185 MEDICINOVA, INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) 4275 Executive Square, Suite 300 La Jolla, CA 92037 (Address of Principal Executive Offices) (Zip Code) (858) 373-1500 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 20 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from. to Commission file number: 001-33185 MEDICINOVA, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 33-0927979 (State or Other Jurisdiction of Inc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number: 001-33185 MEDICINOVA, INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) Delaware 33-0927979 (I.R.S. Employer Identification No.) La Jolla, CA 92037 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) ...