MediciNova, Inc. [NASDAQ: MNOV] disclosed Thursday the result of the Phase 2 trial evaluating MN-166 (ibudilast) for the treatment of Alcohol Use Disorder (AUD).
Principal Investigator, Lara Ray, Ph.D., Professor at the Department of Psychology, University of California Los Angeles (UCLA) has virtually presented the data at the American Psychological Association.
Ibudilast has shown a positive result in Alcohol Use Disorder. A total of 52 alcohol use disorder patients participated in this trial. The trial is a collaborative effort between MediciNova and Dr. Lara Ray and funded by the Center for Study of Opioid Receptors and Drugs of Abuse.
Shares of MediciNova, Inc. soared 2.08% and up +0.13 during the trading of Thursday. Right now, it has day low range of $6.23 and a day high range of $6.45.
Furthermore, MediciNova had a trading volume of 252.31K as compared to the average volume of 1.60 million. If we look at its profitability, its return on assets (ROA) is -14.90%, return on equity (ROE) is -15.70%.
Turning our focus on liquidity, it has a current ratio of 22.00. Likewise, the quick ratio is the same as the current ratio. Currently, MNOV has a total market capitalization of 298.16 million.
In the past 52-weeks of trading, this company’s stocks have fluctuated between the low of $2.79 and a high of $13.25. It has moved up 129.03% from its 52-weeks low and moved down -51.77% from its 52-weeks high.
Ibudilast has decreased the number of heavy drinking days contrasted to the placebo. Furthermore, Patients who were treated with ibudilast and had attenuated VS activation drank the least in the week after the scan. Moreover, there was a significant effect of ibudilast on alcoholic beverage images (ALC).