MediciNova (MNOV) Registration filing summary

Company overview and business model

• Focuses on developing novel therapeutics for serious diseases with unmet medical needs, primarily targeting the U.S. market.

• Lead candidates include MN-166 (ibudilast) for neurological disorders and MN-001 (tipelukast) for fibrotic/metabolic diseases.

• Pipeline covers progressive MS, ALS, substance dependence, CIPN, DCM, glioblastoma, ARDS, NASH, and NAFLD.

• Multiple clinical trials completed or ongoing, with several candidates receiving Fast Track and Orphan Drug designations.

Financial performance and metrics

• As of August 11, 2025, 49,046,246 shares of common stock were outstanding, with 47,631,317 held by non-affiliates.

• If all 25,000,000 shares under the offering are issued, they would represent about 51% of total shares outstanding.

• The company qualifies as a smaller reporting company, with annual revenue under $100 million and market value of non-affiliate shares below $700 million.

Use of proceeds and capital allocation

• May receive up to $30 million in gross proceeds from sales to YA under the Standby Equity Purchase Agreement.

• Proceeds will fund research and development, pipeline advancement, business development, and general corporate purposes.

• Management has broad discretion over use of proceeds, which may not yield favorable returns.