MediciNova Provides Shareholder Update on Key Developments

Core Viewpoint - MediciNova, Inc. has made significant progress in its clinical trials and secured a Standby Equity Purchase Agreement to enhance its financial flexibility for ongoing research and development initiatives [2][3][4]. Group 1: Financial Developments - The company signed a Standby Equity Purchase Agreement (SEPA) for up to $30 million worth of common stock over 36 months, allowing it to sell shares at 97% of the market price [2]. - Proceeds from the SEPA will be utilized to advance R&D programs and support general corporate activities [2][4]. Group 2: Clinical Trials and Research Progress - MediciNova achieved the target enrollment for its COMBAT-ALS Phase 2b/3 clinical trial of MN-166 (ibudilast), aimed at treating Amyotrophic Lateral Sclerosis (ALS) [3][4]. - The company is also conducting a large Expanded Access Program (EAP) supported by a $22 million grant from the National Institutes of Health (NIH) [3]. - Additionally, the company is nearing completion of its Phase 2 clinical trial for MN-001 (Tipelukast) targeting hypertriglyceridemia and fatty liver disease due to Type 2 diabetes [3][5]. Group 3: Company Overview - MediciNova is a clinical-stage biopharmaceutical company with a late-stage pipeline focused on inflammatory, fibrotic, and neurodegenerative diseases [5]. - The company has 11 programs in clinical development, with MN-166 being evaluated in multiple Phase 2 and Phase 3 trials for various conditions [5].