MediciNova, Inc. [NASDAQ: MNOV] inked a deal to co-develop the SARS-CoV-2 vaccine with Mie University of Japan & BioComo. MediciNova will develop the COVID-19 vaccine using the human parainfluenza virus type 2 vector, BC-PIV.
BC-PIV is being developed by Mie University & BioComo. BC-PIV has been derived from hPVI2 and it is a non-communicable viral vector. It has the ability to pass on multiple foreign proteins to recipients. BC-PIV is also very safe as no other infectious virus is developed.
It has the ability to carry the large membrane proteins of viruses & signal transduction receptors protein on the surface of the virus. It is developed in a way that it not only display the gene but also exhibits foreign protein itself on the surface & inside the viral membrane.
The SARS-CoV-2 vaccine sample has been created to include the specific SARS-CoV-2 antigen protein in order to show maximum antigenicity. The firm has already got the right to use the BC-PIV for the development of the SARS-CoV-2 vaccine from Mie University & BioComo.
MediciNova, Inc. shares had tumbled 2.08% at $5.64 during the trading of Friday. It had a trading volume of rougly 49k and an average volume of 128.29k. If we look at its profitability, it has return on assets of -14.10%, return on equity of -14.80%.
MediciNova, Inc has recorded the current ratio of 34.60. Likewise, its quick ratio s 34.60. In the past 52-weeks of trading, this company’s stocks has changed between the 52-weeks low of $2.79 and a high of $9.95. It has moved up 102.15% from its 52-weeks low and moved down -43.33% from its 52-weeks high.
President and Chief Executive Officer of MediciNova, Inc, Yuichi Iwaki, M.D., Ph.D. said that the COVID-19 pandemic has spread all around and this is a great opportunity for the company to co-develop the vaccine with BioComo and Mie University.
BioComo had developed the vaccines for Ebola virus and RS virus using the BC-PIV technology. MediciNova is confident that this BC-PIV technology will also be successful in the development of the SARS-CoV-2 vaccine. Furthermore, it is very attractive that a BC-PIV SARS-CoV-2 vaccine can be made as an intranasal formulation.