MediciNova Inc. (MNOV) Plunges 12.79%

MediciNova Inc. (MNOV) Plunges 12.79%

MediciNova Inc. (MNOV) had a rough trading day for Friday October 25 as shares tumbled 12.79%, or a loss of $-1.12 per share, to close at $7.64. After opening the day at $8.46, shares of MediciNova Inc. traded as high as $8.46 and as low as $7.38. Volume was 177,384 shares over 1,720 trades, against an average daily volume of n/a shares and a total float of 43.36 million.

As a result of the decline, MediciNova Inc. now has a market cap of $331.25 million. In the last year, shares of MediciNova Inc. have traded between a range of $13.37 and $6.68, and its 50-day SMA is currently $n/a and 200-day SMA is $n/a.

MediciNova Inc 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, MN-221 etc. 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 Inc. is based out of La Jolla, CA and has some 9 employees. Its CEO is Yuichi Iwaki.

MediciNova Inc. is a component of the Russell 2000. The Russell 2000 is one of the leading indices tracking small-cap companies in the United States. It’s maintained by Russell Investments, an industry leader in creating and maintaining indices, and consists of the smallest 2000 stocks from the broader Russell 3000 index.

Russell’s indices differ from traditional indices like the Dow Jones Industrial Average (DJIA) or S&P 500, whose members are selected by committee, because they base membership entirely on an objective, rules based methodology. The 3,000 largest companies by market cap make up the Russell 3000, with the 2,000 smaller companies making up the Russell 2000. It’s a simple approach that gives a broad, unbiased look at the small-cap market as a whole.

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