12-7-17 7:03 PM EST | Email Article

Biotech company MediciNova Inc. (4875.TO) said late Thursday that it had received positive top-line results from the company's clinical trial of MN-166 in amyotrophic lateral sclerosis. Shares went on a rampage after hours, up more than 52% to $10.52. The company said that it conducted data analysis on 51 subjects without non-invasive ventilation in the "intent to treat" population and the trial "achieved the primary endpoint of safety and tolerability, and also demonstrated efficacy trends in favor of MN-166 (ibudilast)." MN-166 has been marketed in Japan and Korea to treat post-stroke complications and bronchial asthma, the company said. MediciNova is attempting to develop MN-166 for progressive multiple sclerosis and other neurological conditions such as ALS, the company said. Prior to after hours Thursday, MediciNova stock is up 14% this year, as the S&P 500 index gained 18%.

-Max A. Cherney; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

12-07-17 1903ET

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