LA JOLLA, Calif., Oct. 12, 2026 (GLOBE NEWSWIRE) -- MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ:MNOV) and the Standard Market of the Tokyo Stock Exchange (Code Number: 4875) (the "Company"), today provides shareholders an update on key findings from the recent topline results of its Phase 2 clinical trial evaluating MN-001 for the treatment of nonalcoholic fatty liver disease and hypertriglyceridemia associated with type 2 diabetes mellitus in the following letter from CEO Yuichi Iwaki, Ph.D.

To Fellow Shareholders,

We continue to advance our key programs to create viable treatments for both metabolic disease and amyotrophic lateral sclerosis (ALS). Recently, we announced topline results of our Phase 2 clinical trial (MN-001-NATG-202) evaluating MN-001 (tipelukast) in patients with nonalcoholic fatty liver disease (NAFLD) and hypertriglyceridemia associated with type 2 diabetes mellitus. This randomized, double-blind, placebo-controlled study enrolled 40 patients over a 24-week treatment period and was designed as an exploratory, proof-of-concept trial.

We observed encouraging signals, although the trial did not achieve statistical significance on its primary endpoints. There were statistically significant improvements in high-density lipoprotein cholesterol (HDL-C) and HDL particle concentration (HDL-P) compared with placebo, as well as an early, statistically significant reduction in serum triglycerides. At the end of the 24-week treatment period, serum triglycerides, liver fat, and body weight were also reduced in the MN-001 group compared with placebo, although these differences did not reach statistical significance. These observations were consistent with findings from previous clinical trials and preclinical studies evaluating the mechanisms of action of MN-001 and with the directional signals anticipated from an exploratory study of this size.

We are conducting further analyses of the full dataset to better understand the observed outcomes, including the potential influence of concomitant medications and baseline severity of lipid abnormalities. MN-001 was well tolerated in this study, with no drug-related serious adverse events reported, consistent with the favorable safety profile observed among more than 650 subjects exposed to MN-001 in prior clinical studies, including studies that evaluated substantially higher doses than the dose used in the current trial.

We believe the observed changes are clinically relevant and that we have met our overarching goal of demonstrating proof of concept of MN-001 in this treatment context. The findings support continued evaluation of MN-001. Once our analyses are sufficiently advanced, we will use the results to assess potential next steps for this indication, including how the program may proceed, and will provide updates as appropriate.

We are also approaching a significant milestone for our lead asset, MN-166 (ibudilast), for ALS. In September, we announced completion of the last patient, last visit in the double-blind portion of COMBAT-ALS, our Phase 2b/3 trial evaluating MN-166 in 234 patients with ALS. The trial's primary endpoint is the Combined Assessment of Function and Survival (CAFS), and we remain on track to report topline results by year-end. MN-166 has received Fast Track and Orphan Drug designations from the U.S. Food and Drug Administration for ALS, as well as orphan designation in Europe. ALS remains a devastating disease with limited treatment options.

We look forward to continued communication around our development of MN-001 in metabolic disease. We believe MN-001 remains a worthwhile pursuit and are encouraged by signals observed to date. We also look forward to sharing topline results from COMBAT-ALS and advancing MN-166 as a potential treatment for people living with ALS. We are grateful for our shareholders’ ongoing support and remain committed to creating long-term value for our shareholders.

Sincerely,

Yuichi Iwaki, M.D., Ph.D.

Founder, Chairman, CEO, and President

MediciNova, Inc.

About MediciNova

MediciNova, Inc. is a clinical-stage biopharmaceutical company developing a broad late-stage pipeline of novel small molecule therapies for inflammatory, fibrotic, and neurodegenerative diseases. Based on two compounds, MN-166 (ibudilast) and MN-001 (tipelukast), with multiple mechanisms of action and strong safety profiles, MediciNova has numerous programs in clinical development. MediciNova’s lead asset, MN-166 (ibudilast), is currently in late stage trials for amyotrophic lateral sclerosis (ALS) and degenerative cervical myelopathy (DCM) and is Phase 3-ready for progressive multiple sclerosis (MS). MN-166 (ibudilast) is also being evaluated in Phase 2 trials in Long COVID and substance dependence. MN-001 (tipelukast) was evaluated in a Phase 2 trial in idiopathic pulmonary fibrosis (IPF) and a second Phase 2 trial in non-alcoholic fatty liver disease (NAFLD) is ongoing. MediciNova has a strong track record of securing investigator-sponsored clinical trials funded through government grants.

Foward Looking Statement

Statements in this press release that are not historical in nature constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the future development and efficacy of MN-166 and MN-001. These forward-looking statements may be preceded by, followed by, or otherwise include the words "believes," "expects," "anticipates," "intends," "estimates," "projects," "can," "could," "may," "will," "would," "considering," "planning" or similar expressions. These forward-looking statements involve a number of risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results or events to differ materially from those expressed or implied by these forward-looking statements include, but are not limited to, risks of obtaining future partner or grant funding for development of MN-166 and MN-001, and risks of raising sufficient capital when needed to fund MediciNova's operations and contribution to clinical development, risks and uncertainties inherent in clinical trials, including the potential cost, expected timing and risks associated with clinical trials designed to meet FDA guidance and the viability of further development considering these factors, product development and commercialization risks, the uncertainty of whether the results of clinical trials will be predictive of results in later stages of product development, the risk of delays or failure to obtain or maintain regulatory approval, risks associated with the reliance on third parties to sponsor and fund clinical trials, risks regarding intellectual property rights in product candidates and the ability to defend and enforce such intellectual property rights, the risk of failure of the third parties upon whom MediciNova relies to conduct its clinical trials and manufacture its product candidates to perform as expected, the risk of increased cost and delays due to delays in the commencement, enrollment, completion or analysis of clinical trials or significant issues regarding the adequacy of clinical trial designs or the execution of clinical trials, and the timing of expected filings with the regulatory authorities, MediciNova's collaborations with third parties, the availability of funds to complete product development plans and MediciNova's ability to obtain third party funding for programs and raise sufficient capital when needed, and the other risks and uncertainties described in MediciNova's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2025 and its subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date hereof. MediciNova disclaims any intent or obligation to revise or update these forward-looking statements.

INVESTOR CONTACT:

David H. Crean, Ph.D.

Chief Business Officer

MediciNova, Inc

info@medicinova.com