MN-166 COMBAT ALS trial down to single digit required enrollment while MN-001 hypertriglyceridemia trial in type 2 diabetes patients requires final two patientsLA JOLLA, Calif., July 24, 2025 (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) (the “Company”), today provides an update on the enrollment of two key ongoing clinical trials for the Company’s developmental compou ...

Financial Performance - Company reported total revenue of $74.1 million for Q1 2025, reflecting a 61% increase year-over-year from $46.0 million in Q1 2024 [9][30] - IBSRELA net product sales revenue was $44.4 million, showing a significant year-over-year growth of approximately 57% from $28.4 million in Q1 2024 [4][9] - XPHOZAH net product sales revenue reached $23.4 million, which is a 54% increase from $15.2 million in Q1 2024 [5][9] - Company ended Q1 2025 with $214.0 million in cash, cash equivalents, and investments, down from $250.1 million at the end of 2024 [7] Strategic Focus - Company aims to accelerate commercial growth for IBSRELA and deepen the adoption of XPHOZAH while building a pipeline of innovative therapies [3] - Management emphasizes maintaining disciplined financial performance to support long-term potential and value creation [3] Corporate Developments - In April 2025, company appointed Merdad Parsey, M.D. Ph.D., to its Board of Directors and Laura A. Williams, M.D., M.P.H., as the first Chief Patient Officer [8] - Company received a $5.0 million milestone payment from Fosun Pharma following the approval of tenapanor in China for hyperphosphatemia [10] Operating Expenses - Research and development expenses for Q1 2025 were $14.9 million, up from $10.6 million in Q1 2024 [14] - Selling, general and administrative expenses increased to $83.2 million from $53.0 million in the same period last year, primarily due to commercialization costs [14] Net Loss - Company reported a net loss of $41.1 million for Q1 2025, compared to a net loss of $26.5 million in Q1 2024 [14][30] - Net loss per share was $(0.17) for Q1 2025, compared to $(0.11) for Q1 2024 [30]