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MNOV

MediciNova, Inc.

MNOV

MediciNova, Inc. • NASDAQ
$1.45 ▲ 0.00% (+0.00)
Market Cap $71.12 M
52w High $2.48
52w Low $1.13
Dividend Yield 0%
P/E -5.8
Volume 49.29K
Outstanding Shares 49.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $123.319K ▼ $3.342M ▼ $-3.05M ▲ -2.474K% ▼ $-0.06 ▲ $-3.003M ▲
Q2-2025 $134.599K ▲ $3.625M ▲ $-3.281M ▼ -2.438K% ▼ $-0.067 ▼ $-3.602M ▼
Q1-2025 $0 $3.203M ▲ $-2.864M ▼ 0% $-0.058 ▼ $-3.197M ▼
Q4-2024 $0 $3.179M ▼ $-2.815M ▲ 0% $-0.057 ▲ $-3.179M ▲
Q3-2024 $0 $3.309M $-2.852M 0% $-0.058 $-3.304M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $32.563M ▼ $47.578M ▼ $3.614M ▲ $43.965M ▼
Q2-2025 $34.26M ▼ $49.824M ▼ $2.967M ▲ $46.857M ▼
Q1-2025 $36.571M ▼ $52.431M ▼ $2.501M ▼ $49.93M ▼
Q4-2024 $40.36M ▼ $55.876M ▼ $3.372M ▲ $52.504M ▼
Q3-2024 $42.281M $58.119M $3.054M $55.066M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.05M ▲ $-1.703M ▲ $-2.899K ▼ $0 $-1.697M ▲ $-1.706M ▲
Q2-2025 $-3.281M ▼ $-2.306M ▲ $0 $0 $-2.312M ▲ $-2.306M ▲
Q1-2025 $-2.864M ▼ $-3.784M ▼ $0 ▼ $0 $-3.788M ▼ $-3.784M ▼
Q4-2024 $-2.815M ▲ $-1.932M ▲ $1 ▼ $0 $-1.921M ▲ $-1.932M ▲
Q3-2024 $-2.852M $-2.032M $193 $0 $-2.057M $-2.032M

Five-Year Company Overview

Income Statement

Income Statement MediciNova’s income statement is exactly what you’d expect from a clinical‑stage biotech: no product revenue at all and a steady stream of research and operating expenses. Losses have been fairly small but consistent year after year, which means the company is not close to self‑funding from operations. Earnings per share have remained negative, reflecting ongoing investment in trials rather than any commercial payback so far. The profile is “stable burn, no income,” which keeps the focus squarely on the pipeline’s future rather than current profitability.

Balance Sheet

Balance Sheet The balance sheet is small but relatively clean. Assets are modest and largely made up of cash and equivalents, with no financial debt on the books. Equity remains positive, though it has been edging down as losses accumulate. Cash levels have slipped from earlier years but not in a dramatic, sudden way. Overall, the company has a simple, low‑leverage capital structure, but its size and limited asset base underline that it does not have deep financial reserves and will likely need periodic external funding as programs advance.

Cash Flow

Cash Flow Cash flows show a classic early‑stage biotech pattern: regular cash outflow from operations and no meaningful capital spending. The burn rate appears controlled rather than explosive, suggesting disciplined spending on trials and overhead. Still, free cash flow remains negative, so the company is not generating cash internally and depends on equity raises, grants, and partnerships to keep development moving. The key question is how long current cash supports the trial schedule before additional capital is required.

Competitive Edge

Competitive Edge MediciNova’s competitive position rests less on current market share and more on its potential future role in hard‑to‑treat diseases. Its main strength is a focused set of drug candidates with multi‑pathway mechanisms aimed at neurodegenerative, inflammatory, and fibrotic conditions where existing options are limited. Strong and long‑dated patent coverage helps protect this work. At the same time, it competes in crowded, high‑stakes arenas like multiple sclerosis, ALS, and NASH, where much larger companies and many other biotechs are active. As a small player, MediciNova’s practical edge is its narrow focus, lean operations, and willingness to partner, but its ultimate standing will depend on clinical results and the quality of any future commercial alliances.

Innovation and R&D

Innovation and R&D Innovation and R&D are the core of the MediciNova story. The company is built around a handful of novel, orally available small molecules with multi‑modal effects on inflammation, neuroprotection, and fibrosis. The lead asset, MN‑166, is being pushed across several neurological and inflammatory indications, some with late‑stage or near‑late‑stage trials. MN‑001 targets metabolic and fibrotic liver disease, while MN‑029 addresses solid tumors via a vascular‑disrupting approach. External support from government agencies and partners reduces some funding pressure and validates scientific interest. However, the pipeline is still entirely experimental, and outcomes are highly binary: a few pivotal trials over the next couple of years will heavily influence whether this R&D portfolio turns into real products or requires a strategic reset.

Summary

Overall, MediciNova is a classic pre‑revenue biotech at an important turning point. Financially, it runs a modest but steady cash burn, with a simple, debt‑free balance sheet and limited but meaningful cash resources. The value of the company is almost entirely tied to the success of its pipeline, especially MN‑166 and MN‑001, in diseases with significant unmet need. Strong patents, a focused strategy, and non‑dilutive funding sources are clear positives, while the absence of any approved product, the competitive intensity in its target indications, and dependence on upcoming trial readouts are key risks. The next phase of clinical data and potential partnering decisions will largely determine whether MediciNova can evolve from a small, development‑stage story into a commercial enterprise.

NEWS

November 18, 2025 · 6:00 AM UTC

MediciNova Appoints Dr. Christopher Breder, MD, PhD as Clinical and Regulatory Advisor

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November 6, 2025 · 6:00 PM UTC

MediciNova Wins Contract Research and Development Innovation Award at 2025 BioTech Breakthrough Awards

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October 30, 2025 · 7:00 PM UTC

MediciNova Compounds Demonstrate Novel Therapeutic Approach for Atherosclerosis in Peer-Reviewed Publication

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October 6, 2025 · 8:00 AM UTC

MediciNova to Present at the LD Micro Main Event XIX Investor Conference

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September 8, 2025 · 9:00 AM UTC

MediciNova Provides Shareholder Update on Key Developments

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