MediciNova Poised To Receive Canadian Patents For Cholesterol Candidates - MediciNova (NASDAQ:MNOV)

MediciNova Inc MNOV received a Notice of Allowance Canadian patent covering MN-001 (tipelukast) and MN-002 (a significant metabolite of MN-001) for hypertriglyceridemia, hypercholesterolemia, and hyperlipoproteinemia.
Once issued, the patent maturing from this allowed patent application is expected to expire no earlier than July 2034.
The allowed claims cover the use of MN-001 or MN-002 for reducing triglyceride blood level, total cholesterol blood level, and low-density lipoprotein (LDL) blood level.
The allowed claims cover oral administration, including liquid and solid dosage forms. The allowed claims cover a wide range of doses and a range of different dosing frequencies.
"As we already have patents for similar indications in the U.S., Europe, Japan, China, and Korea, we believe this additional patent in Canada could increase the potential value of MN-001. In our Phase 2 trial, which enrolled subjects with NASH or NAFLD with hypertriglyceridemia, MN-001 demonstrated a statistically significant reduction in mean serum triglycerides after only 8 weeks of treatment," said Kazuko Matsuda, Chief Medical Officer.
Price Action: MNOV shares closed lower by 3.18% at $2.13 on Tuesday.