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Stock Market & Financial Investment News

News Breaks
January 4, 2013
13:21 EDTMNOVMedicNova price target lowered to $6 from $10.50 at Ladenburg
Ladenburg reduced its target on MedicNova after the company indicated that the FDA would require the company to show through a Phase III trial that its asthma treatment reduces hospitalizations. However, the firm continues to be upbeat on the stock and maintains a Buy rating.
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September 7, 2014
19:53 EDTMNOVMedicNova announces new NIDA grant for MN-166 in opioid dependence
MediciNova announced that Columbia University and the New York State Psychiatric Institute was awarded new grant funding from the National Institute on Drug Abuse, NIDA, to continue clinical research on MN-166, ibudilast, in opioid dependence. The new grant will support the completion of a Phase 2a clinical trial of MN-166, ibudilast, in opioid dependence, for which positive interim results were previously reported by MediciNova on August 18. The principal investigator, Dr. Sandra Comer, PhD, Professor of Neurobiology at Columbia University and the New York State Psychiatric Institute commented, "We are honored to receive this grant from NIDA with more than $2.66 MM for the next nine months and to be notified of a potential award of more than $11 MM for the next four years." Yuichi Iwaki, MD, PhD, President and Chief Executive Officer of MediciNova, Inc., commented, "We are very pleased with NIDA's continued support of clinical research on MN-166 (ibudilast) in opioid dependence. We look forward to additional data as the study advances."

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