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MNOV Medicinova

MediciNova, Inc. is a biopharmaceutical company, which engages in the acquisition and development of small molecule therapeutics for the treatment of serious diseases for the treatment of diseases with unmet medical need. Its development pipeline consists of clinical-stage compounds for the treatment of acute exacerbations of asthma and COPD, progressive multiple sclerosis, methamphetamine addiction, neuropathic pain, asthma, interstitial cystitis, and solid tumor cancers. The company was founded by Yuichi Iwaki on September 26, 2000 and is headquartered in La Jolla, CA.

Company profile

Ticker
MNOV
Exchange
CEO
Yuichi Iwaki
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
330927979

MNOV stock data

(
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Calendar

18 Feb 21
12 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Medicinova earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 60.04M 60.04M 60.04M 60.04M 60.04M 60.04M
Cash burn (monthly) 541.53K 312.99K 1M 1.18M 649.7K 902.2K
Cash used (since last report) 1.85M 1.07M 3.43M 4.04M 2.22M 3.08M
Cash remaining 58.19M 58.97M 56.6M 56M 57.82M 56.95M
Runway (months of cash) 107.4 188.4 56.4 47.4 89.0 63.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 Mar 21 Nagao Hideki Common Stock Sell Dispose S No No 7.4 2,354 17.42K 12,646
25 Feb 21 Iwaki Yuichi Common Stock Option exercise Aquire M No No 2.46 86,250 212.18K 927,350
25 Feb 21 Iwaki Yuichi Employee Stock option(Right to Buy) Common Stock Option exercise Dispose M No No 2.46 86,250 212.18K 0
2 Feb 21 Geoffrey OBrien Employee Stock Option Common Stock Grant Aquire A No No 6.89 99,000 682.11K 99,000
2 Feb 21 Matsuda Kazuko Employee Stock Option Common Stock Grant Aquire A No No 6.89 325,000 2.24M 325,000
2 Feb 21 Iwaki Yuichi Employee Stock Option Common Stock Grant Aquire A No No 6.89 495,000 3.41M 495,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

22.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 57 51 +11.8%
Opened positions 14 6 +133.3%
Closed positions 8 6 +33.3%
Increased positions 20 12 +66.7%
Reduced positions 13 19 -31.6%
13F shares
Current Prev Q Change
Total value 104.54M 105.17M -0.6%
Total shares 10.99M 9.63M +14.1%
Total puts 44.1K 106.5K -58.6%
Total calls 79K 12.7K +522.0%
Total put/call ratio 0.6 8.4 -93.3%
Largest owners
Shares Value Change
BLK Blackrock 3.31M $17.43M +16.6%
Vanguard 1.96M $10.33M +3.4%
Essex Woodlands Management 1.11M $5.82M 0.0%
STT State Street 743.09K $3.91M -2.5%
Geode Capital Management 633.33K $3.33M +4.3%
NTRS Northern Trust 598.17K $3.15M -4.3%
C Citigroup 457.98K $2.41M +18840.4%
BK Bank Of New York Mellon 243.23K $1.28M +11.2%
Renaissance Technologies 204.3K $1.08M -2.6%
Nuveen Asset Management 189.04K $995K -3.9%
Largest transactions
Shares Bought/sold Change
BLK Blackrock 3.31M +471.75K +16.6%
C Citigroup 457.98K +455.56K +18840.4%
JPM JPMorgan Chase & Co. 113K +71.62K +173.1%
Vanguard 1.96M +64.84K +3.4%
California State Teachers Retirement System 64.51K +64.51K NEW
WFC Wells Fargo & Co. 105.85K +62.28K +143.0%
State Of Wisconsin Investment Board 59.7K +59.7K NEW
Alps Advisors 0 -57.34K EXIT
GS Goldman Sachs 59.22K +45.3K +325.6%
Millennium Management 39.32K +39.32K NEW

Financial report summary

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Risks
  • If we fail to obtain the capital necessary to fund our operations, we will be unable to develop and commercialize our product candidates.
  • We do not have any products that are approved for commercial sale and therefore do not expect to generate any revenues from product sales in the foreseeable future, if ever.
  • Because the results of early clinical trials are not necessarily predictive of future results, our product candidates we advance into clinical trials in any indication may not have favorable results in later clinical trials, if any, or receive regulatory approval.
  • Our attempts to develop MN-001 (tipelukast) in NASH and IPF may detract from our efforts to develop other product candidates and may limit the effectiveness of our product development efforts as a whole.
  • In order to commercialize a therapeutic drug successfully, a product candidate must receive regulatory approval after the successful completion of clinical trials, which are long, complex and costly, have a high risk of failure and can be delayed or terminated at any time.
  • We are subject to stringent regulation of our product candidates, which could delay the development and commercialization of our product candidates.
  • Even if our product candidates receive regulatory approval, they may still face future development and regulatory difficulties.
  • Any product candidates that we advance into clinical trials may cause undesirable side effects or have other properties that could delay or prevent regulatory approval or commercialization or limit its commercial potential.
  • Delays in the commencement or completion of clinical trials, or suspension or termination of our clinical trials, could result in increased costs to us and delay or limit our ability to obtain regulatory approval for our product candidates.
  • The loss of any rights to develop and market any of our product candidates could significantly harm our business.
  • If our competitors develop and market products that are more effective than our product candidates, they may reduce or eliminate our commercial opportunities.
  • We rely on third party manufacturers to produce our product candidates, which may result in delays in our clinical trials and the commercialization of products, as well as increased costs.
  • We may not be able to manufacture our product candidates in commercial quantities, which would prevent us from commercializing our product candidates.
  • Materials necessary to manufacture our product candidates may not be available on commercially reasonable terms, or at all, which may delay the development and commercialization of our product candidates.
  • Our product candidates, if approved for sale, may not gain acceptance among physicians, patients and the medical community, thereby limiting our potential to generate revenues.
  • If our products are not accepted by the market or if users of our products are unable to obtain adequate coverage of and reimbursement for our products from government and other third party payers, our revenues and profitability will suffer.
  • We are dependent on our management team, particularly our President and Chief Executive Officer, and our experienced scientific staff, and if we are unable to retain, motivate and attract key personnel, our product development programs may be delayed and we may be unable to develop successfully or commercialize our product candidates.
  • If we are unable to establish sales, marketing and distribution capabilities, whether independently or with third parties, we will be unable to commercialize our product candidates successfully.
  • Health care reform measures could adversely affect our business.
  • We may be sued for product liability, which could result in substantial liabilities that exceed our available resources and damage our reputation.
  • We expect that our results of operations will fluctuate, which may make it difficult to predict our future performance from period to period.
  • We will continue to incur significant increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives.
  • We may be subject to information technology systems failures, network disruptions, breaches in data security and computer crime and cyber-attacks.
  • A variety of risks associated with operating our business and marketing our products internationally could materially adversely affect our business.
  • Our ability to compete may decline if we do not adequately protect our proprietary rights.
  • Confidentiality agreements with employees and others may not adequately prevent disclosure of our trade secrets and other proprietary information and may not adequately protect our intellectual property, which could limit our ability to compete.
  • A dispute concerning the infringement or misappropriation of our proprietary rights or the proprietary rights of others could be time consuming and costly, and an unfavorable outcome could harm our business.
  • We may be subject to claims that our employees have wrongfully used or disclosed alleged trade secrets of their former employers.
  • Our stock price may be volatile, and you may not be able to resell our shares at a profit or at all.
  • The sale of additional common stock under our existing at-the-market issuance sales agreement may cause substantial dilution to our existing stockholders and/or the price of our common stock to decline.
  • We may become involved in securities class action litigation that could divert management’s attention and harm our business.
  • Future sales of our common stock may cause our stock price to decline and may make it difficult for us to raise additional capital or for you to sell your shares.
  • Anti-takeover provisions in our charter documents and under Delaware law may make an acquisition of us more complicated and the removal and replacement of our directors and management more difficult.
Management Discussion
  • Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • We are a biopharmaceutical company focused on developing novel, therapeutics for the treatment of serious diseases with unmet medical needs and a commercial focus on the United States market. Our current strategy is to focus our development activities on MN-166 (ibudilast) for neurological and other disorders such as progressive multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS), chemotherapy-induced peripheral neuropathy, degenerative cervical myelopathy, glioblastoma, substance dependence and addiction (e.g., methamphetamine dependence, opioid dependence, and alcohol dependence), and prevention of acute respiratory distress syndrome (ARDS), and MN-001 (tipelukast) for fibrotic diseases such as nonalcoholic steatohepatitis (NASH) and idiopathic pulmonary fibrosis (IPF). Our pipeline also includes MN-221 (bedoradrine) for the treatment of acute exacerbation of asthma and MN-029 (denibulin) for solid tumor cancers. We were incorporated in Delaware in September 2000.
  • We have incurred significant net losses since our inception. For the year ended December 31, 2020, we had a net loss of $13.9 million. At December 31, 2020, from inception, our accumulated deficit was $382.9 million. We expect to incur substantial net losses for the next several years as we continue to develop certain of our existing product development programs, and over the long-term if we expand our research and development programs and acquire or in-license products, technologies or businesses that are complementary to our own.
Content analysis
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Positive
Negative
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Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: AASLD, accrual, AGITG, alter, alveolar, antiviral, attenuated, attenuating, Australasian, Bafiertam, bamlanivimab, baricitinib, beverage, bifurcation, bilateral, billed, carbon, casirivimab, CECL, chain, chronic, climate, Coherence, communicable, congestion, context, contractility, cushion, Difficulty, diroximel, economy, edema, Eisai, embedded, EUA, fiber, fMRI, fumarate, ganglion, GCIP, Hedging, hemorrhage, hepatic, histological, host, HSC, imdevimab, immune, Immunology, Importantly, Incyte, induced, inflammatory, influenza, inquiring, Kesimpta, layer, lifetime, macular, mediated, methodology, monomethyl, motility, NaN, neutralizing, objective, OCT, ofatumumab, Optical, outbreak, ozanimod, pandemic, Parallel, peripapillary, Pharmacokinetic, PK, plexiform, pneumonia, pRNFL, Psychological, Regeneron, remdesivir, replication, respiratory, retinal, rewarding, screened, signal, signaling, simplification, situation, spread, stellate, strain, striatum, Subtopic, suppressed, suppression, suppressor, symptom, tetrachloride, Touret, transparency, unchanged, Veklury, ventral, vitro, Vumerity, widespread, worsen, Yang, Zeposia
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Patents

APP
Utility
Ibudilast Oral Formulations and Methods of Using Same
25 Mar 21
This disclosure is directed to ibudilast higher dosage oral formulations, such as tablet or capsule formulations, and the corresponding methods of treatment.
GRANT
Utility
Combination of ibudilast and interferon-beta and methods of using same
16 Mar 21
This disclosure is directed to methods of alleviating the negative effects of, treating, or slowing the progression of progressive multiple sclerosis in human patients using ibudilast and interferon-beta.
APP
Utility
Methods and Dosing Regimens Using Ibudilast and a Second Agent for Cancer Therapy
28 Jan 21
Methods and dosing regimens for treating glioblastoma or recurrent glioblastoma and its associated symptoms by administration of ibudilast (3-isobutyryl-2-isopropylpyrazolo[1,5-a]pyridine) or a pharmaceutically acceptable salt thereof and at least one or more other therapeutic agent.
APP
Utility
Combination of Ibudilast and Riluzole and Methods of Using Same
6 Jan 21
The present disclosure relates generally to methods for treating neurodegenerative diseases, including their progressive forms.
GRANT
Utility
Methods and dosing regimens using ibudilast and a second agent for cancer therapy
17 Aug 20
Methods and dosing regimens for treating glioblastoma or recurrent glioblastoma and its associated symptoms by administration of ibudilast (3-isobutyryl-2-isopropylpyrazolo[1,5-a]pyridine) or a pharmaceutically acceptable salt thereof and at least one or more other therapeutic agent.