LA JOLLA - MediciNova, Inc., a biopharmaceutical firm listed on both NASDAQ:MNOV and the Tokyo Stock Exchange, has received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent application related to its drug MN-166 (ibudilast).
The patent, once issued, is set to last until at least July 2042 and encompasses the use of MN-166 in preventing the spread of various cancers, including pancreatic, lung, breast, colorectal, melanoma, and ovarian cancer.
The patent application specifically details the use of MN-166 in combination with other cancer therapies such as chemotherapy, immunotherapy, and radiotherapy, among others. The claims include a wide range of dosing frequencies, oral administration, and treatment periods.
MN-166, known for inhibiting phosphodiesterase type-4 and inflammatory cytokines, is currently in advanced clinical trials for neurodegenerative diseases and is also being evaluated for other conditions such as glioblastoma and Long COVID.
Chief Medical Officer of MediciNova, Dr. Kazuko Matsuda, expressed satisfaction with the expansion of the company's intellectual property portfolio, highlighting the importance of preventing metastasis in cancer treatment.
This development could potentially enhance the value of MN-166 (ibudilast) as it joins the ranks of MediciNova's late-stage pipeline of novel therapies. The company is recognized for its focus on inflammatory, fibrotic, and neurodegenerative diseases, with 11 programs in clinical development.
The information in this article is based on a press release statement from MediciNova.
InvestingPro Insights
As MediciNova, Inc. secures a new patent for its promising drug MN-166, investors and stakeholders are closely monitoring the company's financial health and market potential. According to InvestingPro data, MediciNova holds a market capitalization of $68.66 million USD, which reflects the market's current valuation of the company.
Despite the challenges in profitability, with a P/E ratio reflecting negative earnings, MediciNova maintains a strong liquidity position. Notably, the company holds more cash than debt on its balance sheet, which is a positive sign for investors looking for financial stability in the biopharmaceutical sector.
Moreover, analysts are optimistic about the company's sales growth in the current year, which could be further bolstered by the new patent for MN-166 and its potential applications in cancer treatment. This aligns with the company's strategy to expand its intellectual property portfolio and enhance the value of its late-stage pipeline. The InvestingPro platform provides additional insights with 7 more InvestingPro Tips for MediciNova, offering a deeper dive into the company's financial and operational metrics for interested investors.
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