MediciNova Pops 23% on Upcoming Meeting with FDA

Shares of MediciNova

are seeing increased strength during Tuesday's trading session after the company announced that an End-of-Phase 2 meeting pertaining to the development of MN-221 for the treatment of acute exacerbations of asthma has been scheduled with the United States Food and Drug Administration. The Division of Pulmonary, Allergy, and Rheumatology Products of the FDA reviewed MediciNova's meeting request submission and granted an End-of-Phase 2 meeting scheduled for October 22, 2012. In advance of the meeting, MediciNova will provide DPARP with a MN-221 briefing package including the recent Phase 2 trial outcomes and the company's proposed pivotal trial(s) and additional development plans. In addition to representatives from MediciNova, several individuals with clinical expertise in asthma exacerbations, regulatory affairs, manufacturing, or biostatistical fields will participate as part of the MediciNova team. Currently, shares are up about 15 percent at $1.90 per share.