MediciNova Announces Pricing of Underwritten Public Offering of Common Stock
2018年2月8日 - 09:12AM
MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ
Global Market (NASDAQ:MNOV) and the JASDAQ Market of the Tokyo
Stock Exchange (Code Number: 4875), announced today the pricing of
an underwritten public offering of 4,419,890 shares of its common
stock at a price to the public of $9.05 per share. The gross
proceeds to MediciNova from this offering are expected to be
approximately $40.0 million, before deducting the underwriting
discount and other estimated offering expenses. All of the
shares of common stock to be sold in the offering are being offered
by MediciNova. In addition, MediciNova has granted the
underwriters a 30-day option to purchase up to an additional
662,983 shares of common stock at the public offering price, less
underwriting discounts and commissions. The offering is
expected to close on or about February 12, 2018, subject to
customary closing conditions.
MediciNova intends to use the net proceeds received from the
offering primarily to continue to fund the development of its
MN-166 (ibudilast) and MN-001 (tipelukast) programs, including a
Phase 3 clinical trial of MN-166 (ibudilast) for the treatment of
progressive MS, and for working capital and general corporate
purposes, including support for MediciNova’s continuing research
and development of its product candidates and research programs,
clinical trials, commercialization activities and business
development activities. MediciNova may use a portion of the net
proceeds for acquisitions of businesses, products, technologies or
licenses that are complementary to its business, although
MediciNova has no present commitments or agreements to do so.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE American:LTS), is acting as
sole book-running manager of the offering. B. Riley FBR, Inc.
is acting as lead manager of the offering.
The offering is made pursuant to a shelf registration statement
on Form S-3 (File No. 333-220593) that was filed by MediciNova with
the Securities and Exchange Commission (SEC) and was declared
effective on October 2, 2017. A preliminary prospectus
supplement and accompanying prospectus relating to the offering was
filed with the SEC and a final prospectus supplement and the
accompanying prospectus relating to this offering will be filed
with the SEC. Copies of the final prospectus supplement and the
accompanying prospectus relating to and describing the terms of the
offering may be obtained, when available, from Ladenburg Thalmann
& Co. Inc., 277 Park Avenue, 26th Floor, New York, NY 10172, or
by email at prospectus@ladenburg.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. Any offer, if at all, will be made
only by means of the prospectus supplement and accompanying
prospectus forming a part of the effective registration
statement.
About MediciNova
MediciNova, Inc. is a publicly-traded biopharmaceutical company
founded upon acquiring and developing novel, small-molecule
therapeutics for the treatment of diseases with unmet medical needs
with a primary commercial focus on the U.S. market. MediciNova's
current strategy is to focus on MN-166 (ibudilast) for neurological
disorders such as progressive MS, ALS, glioblastoma and substance
dependence and addiction (e.g., methamphetamine dependence, opioid
dependence, and alcohol use disorder) and MN-001 (tipelukast) for
fibrotic diseases such as nonalcoholic steatohepatitis (NASH) and
idiopathic pulmonary fibrosis (IPF). MediciNova’s pipeline
also includes MN-221 (bedoradrine) for the treatment of acute
exacerbation of asthma and MN-029 (denibulin) for solid tumor
cancers. MediciNova is engaged in strategic partnering and
other potential funding discussions to support further development
of its programs. For more information on MediciNova, Inc., please
visit www.medicinova.com.
Forward Looking Statements
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, including statements regarding MediciNova’s
ability to complete the offering and its expected and intended use
of proceeds from the offering. These forward-looking statements
include, without limitation, statements regarding the future
development and efficacy of MN-166, MN-221, MN-001, and MN-029.
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, MN-221, MN-001, and MN-029 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, 2016 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:Geoff O'BrienVice PresidentMediciNova,
Inc.info@medicinova.com