What’s going on with MNOV?
MediciNova (MNOV) stock was driven higher after the biopharmaceutical company reported it received two milestone payments totaling $4 million, from an agreement with Genzyme, a subsidiary of Sanofi. MNOV shares were up 0.89% to trade at $4.54 per share Thursday afternoon.
What it means for MediciNova
MediciNova’s payments were due once Genzyme Corporation reached two clinical development milestones for a gene therapy product based on AAV (adeno-associated virus) vector technology, according to a news release.
La Jolla, California-based MediciNova is also developing treatment MN-166 (ibudilast) for neurological disorders, and MN-001 (tipelukast), for fibrotic disease, among other treatments.
MNOV has an Overall Score of 39. Find out what this means to you and get the rest of the rankings on MNOV!
MediciNova Inc is a biopharmaceutical company. It acquires and develops small-molecule therapeutics for the treatment of diseases with unmet medical needs with a specific focus on U.S. market. Its products portfolio includes therapeutics such as MN-001, MN-166, MN-221 etc. The firm's current strategy is to focus its development activities on therapeutics for neurological disorders and fibrotic diseases. It has the acquisition and development of small molecule therapeutics segment.
