MediciNova Gains 6% Following Positive Mention In Medical Journal

Shares of MediciNova, Inc. (NASDAQ: MNOV), a biopharmaceutical company that focuses on the treatment of serious diseases with unmet medical needs, were trading higher by more than 6 percent early Thursday morning.

MediciNova announced after Wednesday's close that the medical journal Drug and Alcohol Dependence published an article detailing positive findings from the company's completed Phase 1b clinical trial of MN-166 in methamphetamine dependence.

MediciNova noted that the positive mention in the journal is consistent with its Phase 1b trial which was shown to significantly reduce the subjective effects of methamphetamine in subjects diagnosed with methamphetamine dependence.

Yuichi Iwaki, MD, PhD, President and Chief Executive Officer of MediciNova, Inc., commented, "We are very pleased that the detailed results of the first clinical trial evaluating MN-166 in methamphetamine-dependent subjects have been published. Based on the reported positive findings from this study, we continue to work in collaboration with researchers at UCLA on a much larger ongoing Phase 2 clinical study to evaluate MN-166 in methamphetamine-dependent subjects."