MediciNova falls as fatty liver drug misses significance on blood-fat reduction
BUZZ-MediciNova falls as fatty liver drug misses significance on blood-fat reduction Updates
** Shares of drug developer MediciNova MNOV.O fall 25.4% to $1.93
** Co says its experimental oral drug MN-001 lowered blood fats in a mid-stage trial involving 40 patients with fatty liver disease, high triglycerides and type 2 diabetes
** After 24 weeks, triglycerides fell about 22% with the drug versus about 7% with placebo, but the difference was not statistically significant
** Drug significantly increased levels of HDL, commonly known as "good" cholesterol, while reductions in liver fat and body weight were not statistically significant
** No drug-related serious side effects were reported; co says a larger study is needed to further assess the drug's effectiveness
** Including session's move, MNOV up 45%% YTD
(Reporting by Kunal Das in Bengaluru)
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