MediciNova stock up more than 50% on positive trial results
Biotech company MediciNova Inc. (4875.TO) said late Thursday that it had received positive top-line results from the company's clinical trial of MN-166 in amyotrophic lateral sclerosis. Shares went on a rampage after hours, up more than 52% to $10.52. The company said that it conducted data analysis on 51 subjects without non-invasive ventilation in the "intent to treat" population and the trial "achieved the primary endpoint of safety and tolerability, and also demonstrated efficacy trends in favor of MN-166 (ibudilast)." MN-166 has been marketed in Japan and Korea to treat post-stroke complications and bronchial asthma, the company said. MediciNova is attempting to develop MN-166 for progressive multiple sclerosis and other neurological conditions such as ALS, the company said. Prior to after hours Thursday, MediciNova stock is up 14% this year, as the S&P 500 index gained 18%.
-Max A. Cherney; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
12-07-17 1903ETCopyright (c) 2017 Dow Jones & Company, Inc.