MediciNova Inc. (NASDAQ:MNOV) shares surged 87.39% to $2.23 in after-hours trading on Thursday.
Check out the current price of MNOV stock here.
Publication Announcement
The California-based biopharmaceutical company said on Thursday that its research was published in the Journal of Atherosclerosis and Thrombosis, the official publication of the Japan Atherosclerosis Society and the Asian Pacific Society of Atherosclerosis and Vascular Disease.
The study, "Enhancement of ABCA1 and ABCG1 Expression and Cholesterol Efflux by a Metabolite of Tipelukast: A Potential Therapeutic Strategy for Atherosclerosis," was carried out in collaboration with a Japanese academic research group.
Research Results
According to the company, the study showed that MN-002, the primary metabolite of the oral bioavailable small molecule MN-001 (tipelukast), increased cholesterol efflux in macrophages by upregulating transport proteins ABCA1 and ABCG1.
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Yuichi Iwaki, MediciNova president and CEO, said the collaborative research "provides mechanistic insight into how MN-001 and its metabolite MN-002 may influence cholesterol and lipid metabolism."
Clinical Development
Prior clinical research demonstrated that MN-001 significantly impacted patients with Type 2 diabetes and improved serum lipid profiles in patients with hypertriglyceridemia and non-alcoholic fatty liver disease (NAFLD).
The clinical-stage company is nearing completion of enrollment for a randomized, placebo-controlled, double-blind Phase 2 study in patients with hypertriglyceridemia, type 2 diabetes, and NAFLD.
Stock Performance
MediciNova reported second-quarter earnings on Aug. 14, with a loss of 7 cents per share, beating the 10-cent loss analysts expected. Revenue totaled $134,600, exceeding expectations.
The company is scheduled to report third-quarter results Nov. 12.
MediciNova's 52-week range is $1.13 to $2.55, and its market capitalization stands at $57.87 million.
The stock is down 44.13% year to date.
Price Action: According to Benzinga Pro data, MediciNova closed Thursday's regular session at $1.19, up 0.85%.
Benzinga Edge Stock Rankings indicate that MNOV has a negative price trend across all time frames. Track the performance of other players in this segment.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
