MEDICINOVA INC

Listed Company

MNOVCIK 0001226616NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$409.7K

Net Income

$-12.00M

Total Assets

$45.60M

Equity

$41.59M

Shares Out

49.22M

Op. Cash Flow

$-9.81M

Business

MEDICINOVA INC is a biopharmaceutical company focused on developing novel therapeutics for serious diseases with unmet medical needs. It develops two lead product candidates, MN-166 (ibudilast) — an oral anti-inflammatory and neuroprotective agent — and MN-001 (tipelukast) — an orally bioavailable anti-fibrotic/metabolic compound, through clinical trials across multiple indications. Its business comprises clinical development programs, in‑licensing and patent management, investigator‑sponsored and government‑funded collaborations, and reliance on third‑party manufacturing. The company has a commercial focus on the United States while conducting trials and partnerships internationally through academic, governmental and strategic channels.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	409,657	—	1	—	4
Cost of services	378,606	—	—	—	—
Research, development and patents	7	7	6	9	9
General and administrative	6	5	5	5	6
Total operating expenses	14	13	11	15	14
Operating loss	−13	−13	−10	−15	−10
Interest income	1	2	2	809,673	143,626
Other expense, net	−12,753	−39,485	−502,869	−247,285	−59,498
Loss before income taxes	−12	−11	−9	−14	−10
Income tax expense	−5,994	−5,537	−3,047	−2,822	−2,568
Net loss	−12	−11	−9	−14	−10
Basic net loss per common share	−0.24	−0.23	−0.17	−0.29	−0.21
Diluted net loss per common share	−0.24	−0.23	−0.17	−0.29	−0.21
Shares used to compute basic net loss per common share	49	49	49	49	49
Shares used to compute diluted net loss per common share	49	49	49	49	49
Foreign currency translation adjustments	7,974	−17,064	−2,805	−16,408	−10,658
Comprehensive loss	−12	−11	−9	−14	−10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	31	40	51	19	71
Prepaid expenses and other current assets	184,827	714,541	174,938	499,403	577,992
Total current assets	31	41	51	59	72
Goodwill	10	10	10	10	10
In-process research and development	5	5	5	5	5
Property and equipment, net	8,340	25,507	45,800	45,269	57,565
Right-of-use asset	184,229	356,904	575,406	629,495	824,215
Other non-current assets	18,996	18,996	74,151	92,792	115,492
Total assets	46	56	66	74	87
Accounts payable	624,995	1	1	424,646	402,740
Accrued liabilities and other current liabilities	3	2	2	3	2
Deferred revenue	400,000	—	—	—	—
Operating lease liability	194,331	193,769	215,926	157,505	131,965
Total current liabilities	4	3	3	3	3
Deferred tax liability	201,792	201,792	201,792	201,792	201,792
Other non-current liabilities	17,129	211,460	410,660	523,619	694,674
Total liabilities	4	3	4	4	4
Commitments and contingencies (Note 5)	—	—	—	—	—
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2025 and December 31, 2024; 49,221,246 and 49,046,246 shares issued and outstanding at December 31, 2025 and December 31,2024, respectively	49,221	49,046	49,046	49,046	49,043
Additional paid-in capital	480	479	478	477	477
Accumulated other comprehensive loss	−127,180	−135,154	−118,090	−115,285	−98,877
Accumulated deficit	−439	−427	−416	−407	−393
Total stockholders equity	42	53	62	70	84
Total liabilities and stockholders equity	46	56	66	74	87

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−12	−11	−9	−14	−10
Non-cash stock-based compensation	829,095	1	710,710	642,522	2
Depreciation and amortization	20,099	21,077	20,295	17,707	26,149
Gain on disposal of property and equipment	0	−198	472	—	286
Change in carrying amount of right-of-use asset	173,681	173,522	194,502	194,719	216,640
Prepaid expenses and other assets	530,000	−491,005	287,628	150,605	50,319
Accounts payable, accrued liabilities and other liabilities	459,871	−312,347	19,238	329,010	−1
Deferred revenue	370,160	0	—	—	—
Operating lease liabilities	−195,010	−176,204	−194,880	−145,515	−231,735
Net cash used in operating activities	−10	−11	−7	−13	−9
Proceeds from sale of property and equipment	0	198	—	—	—
Acquisitions of property and equipment	−2,899	−895	−21,299	−5,010	−28,732
Net cash used in investing activities	−2,899	−697	40	−40	−28,732
Proceeds from issuance of equity under SEPA	200,000	0	—	—	—
Net cash provided by financing activities	244,018	0	—	7,920	21
Effect of exchange rate changes on cash and cash equivalents	15,681	3,957	17,271	−16,808	26,547
Net change in cash and cash equivalents	−10	−11	32	−53	11
Right-of-use asset obtained in exchange for operating lease liability	0	42,281	139,001	—	870,373
Change in carrying amount of right-of-use asset due to termination of lease	0	79,229	—	—	—
Income taxes paid	5,619	5,042	3,667	—	—

Filings

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