Why MediciNova's Stock Is Trading Higher Today

MediciNova MNOV shares are trading higher on Monday after the company announced an agreement with BioComoor for the joint development of a SARS-CoV-2 vaccine.

MediciNova is a biopharmaceutical company. It acquires and develops small-molecule therapeutics for the treatment of diseases with unmet medical needs with a specific focus on U.S. market. Its products portfolio includes therapeutics such as MN-001, MN-166 and MN-221.

The firm's current strategy is to focus its development activities on therapeutics for neurological disorders and fibrotic diseases. It has the acquisition and development of small molecule therapeutics segment.

MediciNova shares were up 95% at $11 on Monday. The stock has a 52-week range between $13.25 and $2.79.

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