MediciNova jumps on new U.S. patent for lead drug in neurological eye disorder

Medicinova

06/07/2021 11:59

** Shares of biopharmaceutical company  MNOV.O  rise 10.2%
to $4.53 premarket
    ** Says its lead experimental drug, MN-166, in development
for treatment of neurodegenerative diseases, gets a new patent
from the U.S. Patent and Trademark office for treatment of eye
disease (https://refini.tv/3dNhgoQ)
    ** The patent covers wide range of doses and formulations of
MN-166 to treat eye disorders or injuries related to
neurodegenerative diseases 
    ** Once issued, the patent is expected to expire no earlier
than October 2039
    ** MNOV is developing MN-166 for amyotrophic lateral
sclerosis, progressive multiple sclerosis (MS) and other
neurological conditions
    ** Up to Friday's close, stock has fallen ~22% this year

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))