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Shares of MediciNova may advance after triglycerides treatment results meet goal of clinical study

Company will stop study to accelerate development of treatment

test tubes
The stock gained 13% in pre-market trading

Shares of MediciNova Inc. (NASDAQ:MNOV) may rise after the biopharmaceutical company said its tipelukast treatment aimed at reducing trigylcerides in patients with fibrosis met the goal of the clinical trial.

The stock climbed 13% to US$14.95 in pre-market trading.

“Tipelukast significantly reduced mean serum triglycerides, a primary endpoint, during the study,” the company said in a statement. “Having achieved the most important endpoint of the study, MediciNova has discontinued enrollment and will stop the study in order to accelerate further development” of the treatment, it said.

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