HomeEquities ScoreHere is why MediciNova Inc. (MNOV) stock skyrocketed on Tuesday?

Here is why MediciNova Inc. (MNOV) stock skyrocketed on Tuesday?

MediciNova Inc. (MNOV) shares fell 0.45% in after-hours on Tuesday, November 23, 2021, and closed the daily trading at $4.40. However, in the regular trading session, MNOV’s stock soared 43.97%. MNOV shares have fallen 25.46% over the last 12 months, and they have moved up 27.75% in the past week. Over the past three months, the stock has gained 16.93%, while over the past six months, it has gained 7.28%.

Let’s have a look at its recent news and developments.

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MNOV New Data regarding MN-166 (ibudilast)

MediciNova, Inc.(MNOV) research collaborator, Justin Lathia Ph.D., Co-Director of the Brain Tumor Research and Therapeutic Development Center of Excellence at Cleveland Clinic Lerner Research Institute, and Professor, Department of Molecular Medicine at Cleveland Clinic Lerner College of Medicine of Case Western Reserve University, presented new data regarding MN-166 (ibudilast) from a glioblastoma animal model study at the 26th Annual Meeting of the Society for Neuro-Oncology (SNO) which was held November 18 – 21, 2021 in Boston.

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Efficacy data with MN-166 and PD-1 inhibitor combination therapy in GBM pre-clinical models were presented during the meeting. Treatment was initiated at day 7 post-engraftment with 3 intraperitoneal injections 3 days apart. Treatment with a PD-1 inhibitor alone extended median survival from 17 to 28 days in this model.

What is MN-166?

MN-166 (ibudilast) is a small molecule compound that inhibits phosphodiesterase type-4 (PDE4) and inflammatory cytokines, including macrophage migration inhibitory factor (MIF).

MNOV MN-001 data presentation at AASLD

MediciNova, Inc. (MNOV) research collaborator Masatsune Ogura, M.D., Ph.D., Associate Professor at the Department of General Medical Science, Chiba University Graduate School of Medicine presented results and findings of a study that investigated the mechanism by which MN-001 (tipelukast) alters triglyceride (TG) metabolism in hepatocytes at The Liver Meeting® 2021, the Annual Meeting of the American Association for the Study of Liver Diseases (AASLD) was held online from November 12th to 15th.

The results show that MN-001 had an inhibitory effect on TG synthesis in HepG2 cells.

What is MN-001?

MN-001 (tipelukast) is a novel, orally bioavailable, small-molecule compound thought to exert its effects through several mechanisms to produce its anti-inflammatory and anti-fibrotic activity in preclinical models, including leukotriene (LT) receptor antagonism, inhibition of phosphodiesterases (PDE) (mainly 3 and 4), and inhibition of 5-lipoxygenase (5-LO).

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The recent new data about the MN-166 was the reason behind its exceptional surge on Tuesday. Though it faced a minor decline in the after-hours we can expect it to perform well on Wednesday.

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