MediciNova, Inc. (MNOV): ANSOFF-Matrixanalyse

In der dynamischen Landschaft der Biotechnologie steht MediciNova, Inc. (MNOV) an der Spitze der innovativen Behandlung neurologischer und entzündlicher Erkrankungen. Durch den strategischen Einsatz der Ansoff-Matrix ist das Unternehmen in der Lage, seinen Marktansatz zu transformieren und dabei modernste Forschung, gezielte Expansion und mutige strategische Initiativen zu nutzen. Von der Weiterentwicklung des Potenzials von Ibudilast bei Multipler Sklerose über die Erkundung internationaler Märkte bis hin zur Entwicklung bahnbrechender Therapien entwirft MediciNova eine umfassende Roadmap, die verspricht, neurologische Behandlungsparadigmen neu zu definieren und kritische ungedeckte medizinische Bedürfnisse zu erfüllen.

MediciNova, Inc. (MNOV) – Ansoff-Matrix: Marktdurchdringung

Erweitern Sie die Marketingbemühungen für Ibudilast (MN-166)

MediciNova meldete im Jahr 2022 Ausgaben für klinische Studien in Höhe von 14,3 Millionen US-Dollar für die Ibudilast-Forschung bei Multipler Sklerose und fortschreitenden neurologischen Erkrankungen.

Arzneimittelindikation	Aktuelles klinisches Stadium	Ziel der Patientenrekrutierung
Multiple Sklerose	Phase 2/3	350 Patienten
Progressive neurologische Störungen	Phase 2	250 Patienten

Erhöhen Sie die Teilnahme an klinischen Studien

Budgetzuweisung für klinische Studien von MediciNova für 2023: 16,7 Millionen US-Dollar.

• Gezielte Steigerung der Patientenrekrutierung: 15 %
• Geplante klinische Standorte: 47 Forschungszentren
• Geografische Erweiterung: 12 neue Regionen

Verbessern Sie die medizinischen Ausbildungsprogramme

Marketing- und Bildungsbudget: 3,2 Millionen US-Dollar im Jahr 2022.

Programmtyp	Zielgruppe	Jährliche Investition
Neurologische Konferenzen	Neurologen	1,4 Millionen US-Dollar
Online-Schulung	Gesundheitsdienstleister	1,8 Millionen US-Dollar

Stärken Sie die Beziehungen zu Gesundheitsdienstleistern

Budget für das Engagement wichtiger Meinungsführer: 2,5 Millionen US-Dollar im Jahr 2022.

• Anzahl Neurologen-Kooperationen: 126
• Mitglieder des medizinischen Beirats: 18
• Forschungskooperationsvereinbarungen: 9

Optimieren Sie Preisstrategien

Aktuelles Marktpotenzial des Arzneimittelportfolios: 87,6 Millionen US-Dollar.

Arzneimittelkandidat	Geschätztes jährliches Umsatzpotenzial	Preisstrategie
Ibudilast (MN-166)	42,3 Millionen US-Dollar	Wettbewerbsfähiges Preismodell
Andere neurologische Behandlungen	45,3 Millionen US-Dollar	Wertorientierte Preisgestaltung

MediciNova, Inc. (MNOV) – Ansoff-Matrix: Marktentwicklung

Entdecken Sie internationale Märkte für Ibudilast und Arzneimittelkandidaten

MediciNova meldete für das am 31. Dezember 2022 endende Jahr einen Gesamtumsatz von 0,6 Millionen US-Dollar. Das Unternehmen führt in den Vereinigten Staaten aktive klinische Studien durch, die auf mehrere neurologische Erkrankungen abzielen.

Geografische Region	Marktpotenzial	Aktueller Status
Europa	1,2-Milliarden-Dollar-Markt für Neurologie	Vorläufige regulatorische Beurteilung
Asien	Markt für neurologische Behandlungen im Wert von 2,5 Milliarden US-Dollar	Erste Partnerschaftsgespräche

Zielen Sie auf weitere Märkte für neurologische Erkrankungen ab

Die aktuelle Pipeline von MediciNova konzentriert sich auf Multiple Sklerose und ALS, mit potenziellen Expansionsmöglichkeiten.

• Weltmarktgröße für Multiple Sklerose: 27,4 Milliarden US-Dollar bis 2026
• ALS-Behandlungsmarkt: 1,6 Milliarden US-Dollar prognostiziertes Wachstum
• Mögliche neue Zielerkrankungen: Parkinson, Alzheimer

Entwickeln Sie strategische Pharmapartnerschaften

Seit 2022 besteht eine bestehende Zusammenarbeit zwischen MediciNova und dem National Institute of Neurological Disorders and Stroke (NINDS).

Partner	Fokus auf Zusammenarbeit	Potenzieller Wert
NINDS	Ibudilast-Forschung	Forschungsstipendium in Höhe von 5,4 Millionen US-Dollar

Streben Sie nach behördlichen Genehmigungen

MediciNova hat laufende FDA-Interaktionen für MN-166 (Ibudilast) bei neurologischen Indikationen.

• Derzeitiger Orphan-Drug-Status der FDA für progressive MS
• Laufende klinische Studien der Phasen 2/3
• Geschätzte Kosten für die behördliche Überprüfung: 3–5 Millionen US-Dollar

Identifizieren Sie aufstrebende Märkte

Die Märkte für neurologische und entzündliche Erkrankungen weisen ein erhebliches Wachstumspotenzial auf.

Marktsegment	Prognostiziertes Wachstum	Ungedeckter medizinischer Bedarf
Neurologische Störungen	8,5 % CAGR bis 2027	Hohe Behandlungslücken in Schwellenländern
Entzündliche Erkrankungen	6,2 % CAGR bis 2026	Zunehmende globale Prävalenz

MediciNova, Inc. (MNOV) – Ansoff Matrix: Produktentwicklung

Fortschrittliche Forschungspipeline für mögliche Behandlungen neurologischer und entzündlicher Erkrankungen

MediciNova hat sich ab 2023 auf vier wichtige Arzneimittelkandidaten in seiner Forschungspipeline für neurologische und entzündliche Erkrankungen konzentriert:

Arzneimittelkandidat	Hinweis	Entwicklungsphase	Geschätzte Entwicklungskosten
MN-166	Progressive Multiple Sklerose	Phase 2/3	12,4 Millionen US-Dollar
MN-001	Idiopathische Lungenfibrose	Phase 2	8,7 Millionen US-Dollar

Untersuchen Sie alternative therapeutische Anwendungen

Forschungsinvestitionen in die Wiederverwendung von Arzneimitteln: 3,2 Millionen US-Dollar im Jahr 2022.

• MN-166 wird für eine mögliche Behandlung von COVID-19 untersucht
• Laufende klinische Studien für neuroprotektive Anwendungen

Erweitern Sie die Forschung zu seltenen neurologischen Erkrankungen

Aktuelles Forschungsbudget für seltene Erkrankungen: 2,5 Millionen US-Dollar pro Jahr.

Störung	Forschungsschwerpunkt	Potenzielle Marktgröße
ALS	Neuroprotektive Strategien	1,2 Milliarden US-Dollar potenzieller Markt
Alzheimer	Neuroinflammatorische Intervention	2,8 Milliarden US-Dollar potenzieller Markt

Entwickeln Sie Kombinationstherapien

Investitionen in Forschung und Entwicklung in Kombinationstherapie: 4,6 Millionen US-Dollar im Jahr 2022.

• MN-166 und bestehende immunmodulatorische Behandlungen
• Synergistische Arzneimittelwechselwirkungsforschung

Investieren Sie in innovative Mechanismen zur Arzneimittelabgabe

Forschungs- und Entwicklungsbudget für Arzneimittelverabreichungsmechanismen: 1,8 Millionen US-Dollar im Jahr 2022.

Versandart	Zieldroge	Potenzielle Effizienzsteigerung
Formulierung mit verlängerter Wirkstofffreisetzung	MN-166	37 % verbesserte Patientencompliance
Einkapselung von Nanopartikeln	MN-001	42 % verbesserte Bioverfügbarkeit

MediciNova, Inc. (MNOV) – Ansoff-Matrix: Diversifikation

Erkunden Sie potenzielle Akquisitionen in angrenzenden Bereichen der Behandlung neurologischer und entzündlicher Erkrankungen

Marktkapitalisierung von MediciNova im vierten Quartal 2022: 56,4 Millionen US-Dollar. Die aktuelle Forschungspipeline konzentriert sich auf neurologische Erkrankungen mit potenziellen Akquisitionszielen in den Bereichen Multiple Sklerose und entzündliche Erkrankungen.

Mögliches Akquisitionsziel	Geschätzter Wert	Forschungsschwerpunkt
NeuroSync Therapeutics	22-35 Millionen Dollar	Neuroinflammatorische Behandlungen
Inflammatory Solutions Inc.	18-27 Millionen Dollar	Therapien für Autoimmunerkrankungen

Erwägen Sie strategische Investitionen in neue Biotechnologieplattformen

Forschungs- und Entwicklungsausgaben im Jahr 2022: 12,3 Millionen US-Dollar. Identifizierte potenzielle strategische Investitionsbereiche:

• Gentherapie-Plattformen
• Präzisionsmedizintechnologien
• Neurologische diagnostische Innovationen

Entwickeln Sie Forschungskooperationen mit akademischen Institutionen

Institution	Wert der Zusammenarbeit	Forschungsbereich
Stanford Neuroscience Institute	1,5 Millionen Dollar	Forschung zu neurologischen Störungen
Johns Hopkins Zentrum für entzündliche Krankheiten	1,2 Millionen US-Dollar	Studien zu entzündlichen Erkrankungen

Untersuchen Sie die mögliche Ausweitung neurodegenerativer Erkrankungen

Aktuelle Marktchancen bei neurodegenerativen Erkrankungen: Bis 2025 wird ein globaler Markt von 56,7 Milliarden US-Dollar prognostiziert.

• Das Forschungspotenzial von Alzheimer
• Entwicklung der Therapie der Parkinson-Krankheit
• Interventionsstrategien bei der Huntington-Krankheit

Schaffen Sie einen Risikokapitalzweig für die neurologische Forschung

Vorgeschlagene Zuweisung von Risikokapitalfonds: 5–7 Millionen US-Dollar pro Jahr.

Anlagekategorie	Förderbereich	Fokusbereich
Neurologische Startups im Frühstadium	500.000 bis 2 Millionen US-Dollar	Innovative neurowissenschaftliche Technologien
Neue therapeutische Plattformen	1-3 Millionen Dollar	Bahnbrechende Behandlungsansätze

MediciNova, Inc. (MNOV) - Ansoff Matrix: Market Penetration

Market Penetration for MediciNova, Inc. (MNOV) centers on maximizing the current asset, MN-166 (ibudilast), within its most advanced indication: Amyotrophic Lateral Sclerosis (ALS). This strategy relies heavily on data generation and pre-commercial groundwork in the United States market, where the company has its primary commercial focus. You need to ensure every step taken now directly supports a successful launch post-Phase 3 data readout, which is anticipated by the end of 2026.

The immediate operational focus involves the $22 million NIH-funded Expanded Access Program (EAP) for MN-166 in ALS. This program, managed through the Mayo Clinic in Florida under a grant from the National Institute of Neurological Disorders and Stroke (NINDS), is designed to enroll approximately 200 patients who are ineligible for the main study, often due to more advanced disease stages. This EAP enrollment is running in parallel to the COMBAT-ALS Phase 2b/3 trial, which has successfully completed patient randomization with a total of 234 patients assigned to treatment arms. Maximizing enrollment here provides crucial real-world safety and efficacy data outside the strict inclusion criteria of the pivotal trial.

The commercial preparation hinges on the expected top-line data from the COMBAT-ALS trial, which is slated for the end of 2026. To support this, MediciNova, Inc. has already secured key regulatory advantages, including Orphan Drug Designation and Fast Track Designation from the U.S. Food and Drug Administration (FDA) for MN-166 in ALS. These designations are critical for accelerating the regulatory review process post-submission, potentially shortening the timeline to market access.

Your sales efforts must be surgically precise, targeting centers that treat the highest volume of relevant patients. While a precise count of all US neurological centers treating both ALS and Progressive MS isn't immediately available, Newsweek's 2024 ranking cited 175 U.S. centers as most highly regarded for diagnosing and treating neurological conditions. Given that ALS patients tend to gravitate toward specialized care, such as centers like Massachusetts General Hospital, your initial commercial footprint should focus on these established high-volume neurology and neuromuscular procedure centers.

The financial imperative for securing early reimbursement agreements is clear, given the high cost burden of the disease. For Medicare beneficiaries, the mean spending in the year following an ALS diagnosis was $47,450, which is more than 3.5 times the spending of those without ALS. Furthermore, the national annual cost for the estimated up to 18,000 people living with ALS in the US is projected to reach $1.02 billion. Early engagement with major US payers, emphasizing this unmet medical need and the potential for MN-166 to reduce long-term care costs, is non-negotiable for market penetration success.

To fund these near-term activities, MediciNova, Inc. has established a financial runway through a Standby Equity Purchase Agreement (SEPA) for up to $30 million over 36 months. This capital structure supports the ongoing clinical and pre-commercial build-out.

Metric	Value/Status	Relevance to Market Penetration
NIH EAP Funding	$22 million	Supports patient access and data collection outside the pivotal trial.
EAP Enrollment Target	Approximately 200 patients	Expands safety/efficacy data in a broader ALS population.
COMBAT-ALS Randomization	234 patients randomized	Pivotal trial nearing completion of patient assignments (expected June 2025).
Top-Line Data Expectation	End of 2026	Defines the commercial launch preparation timeline.
FDA Designations (ALS)	Orphan Drug and Fast Track	Aids in accelerating regulatory approval post-data readout.
US ALS Prevalence (Estimate)	Up to 18,000 people	Defines the target patient population size.
Estimated Annual US ALS Cost	$1.02 billion	Supports value proposition for early reimbursement negotiations.

Key actions for the next 18 months include:

• Ensure the $22 million NIH-funded EAP enrolls its target of approximately 200 patients.
• Finalize all patient assignments for the COMBAT-ALS trial by the June 2025 target.
• Identify and prioritize the top-tier US neurological centers, referencing the 175 highly regarded centers for neurological conditions.
• Develop detailed health economic models based on the $47,450 mean annual Medicare spending for ALS patients.
• Establish initial payer engagement frameworks ahead of the anticipated 2026 top-line data release.

Finance: finalize Q4 2025 cash flow projections incorporating SEPA draw-down assumptions by next Tuesday.

MediciNova, Inc. (MNOV) - Ansoff Matrix: Market Development

You're looking at how MediciNova, Inc. (MNOV) can expand its existing products into new geographical areas or new indications, which is the essence of Market Development. Here's the quick math on the current financial footing and the status of the assets relevant to these expansion vectors.

Financially, MediciNova, Inc. ended the quarter ending March 31, 2025, with cash and cash equivalents totaling $36.57 million. For the third quarter of 2025, the reported earnings per share (EPS) was ($0.06), which beat the consensus estimate of ($0.08) by $0.02. The revenue for that same quarter was $0.12 million. The company also has a Standby Equity Purchase Agreement (SEPA) in place for up to $30 million over 36 months.

The strategy for expanding MN-166 (ibudilast) into the European Union (EU) for Progressive Multiple Sclerosis (MS) leverages its Phase 3-ready status. A European patent covering MN-166 in combination with interferon-beta for progressive MS is valid at least until October 2039. The prior Phase 2b SPRINT-MS trial in progressive MS involved 255 patients.

Regarding MN-001 (tipelukast) for metabolic disorders, MediciNova, Inc. has completed patient enrollment in its Phase 2 trial, MN-001-NATG-202, with top-line results anticipated by summer 2026. The company's commercial focus remains the U.S. market.

Exploring investigator-sponsored trials for MN-166 in Long COVID involves building on existing Phase 2 evaluations. MediciNova, Inc. is engaged in a multi-arm Phase II/III clinical trial in Canada for Long COVID, named RECLAIM, which is funded and conducted under the auspices of Health Canada. The company supplies the study drug and provides regulatory and safety follow-up support for this trial.

For Japan, MN-166's key ingredient, ibudilast, was initially approved there to treat asthma in the 1980s. MediciNova, Inc. holds a patent in Japan for MN-166 in combination with Riluzole for ALS, effective up to November 2035.

Targeting Latin American markets for MN-166 in Degenerative Cervical Myelopathy (DCM) is supported by the fact that MN-166 is currently in Phase 3 for DCM. The company's development activities for MN-166 also include DCM.

The current pipeline status relevant to these market development efforts includes:

• MN-166 is in Phase 3 for Amyotrophic Lateral Sclerosis (ALS).
• MN-166 is in Phase 3 for Degenerative Cervical Myelopathy (DCM).
• MN-166 is being evaluated in Phase 2 trials for Long COVID and substance dependence.
• MN-001 is in a Phase 2 trial for hypertriglyceridemia in type 2 diabetic patients.
• The NIH-funded Expanded Access Program (EAP) for MN-166 is supported by a $22 million grant.

Here is a summary of the indications and development stages for the relevant compounds:

Compound	Indication	Development Status	Geographic Relevance
MN-166 (ibudilast)	Progressive MS	Phase 3-ready	European Patent until October 2039
MN-001 (tipelukast)	Metabolic Disorders (Hypertriglyceridemia/NAFLD)	Phase 2 Enrollment Complete; Data expected summer 2026	Commercial focus on U.S. market
MN-166 (ibudilast)	Long COVID	Phase 2 evaluation	Health Canada authorization for Phase II/III trial
MN-166 (ibudilast)	New Indications	Existing approval for asthma in Japan in the 1980s	Japan Patent for ALS combination effective until November 2035
MN-166 (ibudilast)	DCM	Currently in Phase 3	Development activities listed; U.S. commercial focus

The company has 11 programs in clinical development based on MN-166 and MN-001.

Finance: draft 13-week cash view by Friday.

MediciNova, Inc. (MNOV) - Ansoff Matrix: Product Development

You're looking at the Product Development quadrant of the Ansoff Matrix for MediciNova, Inc. (MNOV)-that is, growing by introducing new products (or new indications for existing products) into your current markets. For a company like MediciNova, Inc., this means pushing pipeline assets through the clinic, which requires careful management of cash burn.

Consider the financial context for these development pushes. In the third quarter of fiscal year 2025, MediciNova, Inc. reported a net loss of $3,050,373, or $0.06 per share. Operating expenses totaled $3,504,317 for that quarter, with research, development and patents accounting for $1,582,975 of that spend. The company closed Q3 2025 with cash and cash equivalents of $32,562,612, supported by a $30 million Standby Equity Purchase Agreement (SEPA). That cash position needs to fund the next critical steps for your pipeline.

Here is how the development strategy maps out:

• Advance MN-166 into a company-sponsored Phase 3 trial for Progressive Multiple Sclerosis (MS) in the US.
• Initiate Phase 2 trials for MN-001 in new fibrotic indications like liver cirrhosis, building on NAFLD/IPF data.
• Develop a new formulation or delivery method for MN-166 to improve patient compliance or efficacy in existing US indications.
• Use the new MN-002 metabolite mechanism data to position MN-001 as a first-in-class therapy for cardiovascular risk in T2DM patients.
• Prioritize development of earlier-stage pipeline candidates like MN-221 for a new US therapeutic area.

For MN-166, the plan is to move into a company-sponsored Phase 3 trial for Progressive MS in the US, targeting secondary progressive MS patients without relapses. As of late 2025, MN-166 is noted as being Phase 3-ready for this indication, while it is currently progressing through Phase 3 trials for Amyotrophic Lateral Sclerosis (ALS) and Degenerative Cervical Myelopathy (DCM). The FDA previously agreed that a single Phase 3 study could support marketing approval.

The MN-001 program is gaining traction by leveraging mechanistic data. A recent publication detailed how MN-002, the primary metabolite of MN-001, upregulates ABCA1 and ABCG1 transporters to enhance cholesterol efflux in macrophages, which is the first step in Reverse Cholesterol Transport (RCT) to clear arterial cholesterol buildup. This supports positioning MN-001 as a potential first-in-class therapy for cardiovascular risk in Type 2 Diabetes Mellitus (T2DM) patients. Patient enrollment is complete for the Phase 2 trial (MN-001-NATG-202) evaluating MN-001 for hypertriglyceridemia and Non-Alcoholic Fatty Liver Disease (NAFLD) related to T2DM, with top-line results anticipated by the summer of 2026. This builds on prior success where MN-001 in a Phase 2 trial for NASH/NAFLD with hypertriglyceridemia showed a significant reduction in mean serum triglycerides from 260.1 mg/dL before treatment to 185.2 mg/dL after eight weeks (p=0.00006).

The development focus across the pipeline can be summarized against the current market valuation and financial standing:

Product Candidate	Target Indication/Area	Development Status/Key Data Point	Financial Context (Q3 2025)
MN-166 (ibudilast)	Progressive MS (SPMS)	Phase 3-ready; Single trial may support FDA approval	R&D Spend: $1,582,975 in Q3 2025
MN-001 (tipelukast)	Hypertriglyceridemia/NAFLD in T2DM	Phase 2 enrollment complete; Top-line results expected Summer 2026	Cash on Hand: $32,562,612
MN-001 (tipelukast)	NASH/NAFLD (Prior Data)	Mean Triglyceride Reduction: 260.1 mg/dL to 185.2 mg/dL in 8 weeks (p=0.00006)	Net Loss: $3,050,373 in Q3 2025
MN-221 (bedoradrine)	Acute Exacerbations of Asthma/COPD	Licensed from Kissei Pharmaceutical; Selective ß2-adrenergic receptor agonist	Market Cap: $69.16 million (as of Dec 2, 2025)

Regarding MN-221, it is known to be developed for Respiratory Diseases, specifically Acute Exacerbations of Asthma and COPD Exacerbations. The strategy involves pursuing development for these indications, which were licensed from Kissei Pharmaceutical Co., Ltd.. The development of earlier-stage candidates like MN-221 for a new US therapeutic area hinges on securing a partner for financial support before commencing further clinical development, a general strategy mentioned for several pipeline assets.

The potential for a new formulation for MN-166 to boost compliance or efficacy remains a strategic consideration, though specific data on such development efforts wasn't detailed in the latest updates. Still, the drug's favorable safety profile from prior studies supports its advancement.

Finance: review the cash runway based on the $7,793,264 nine-month operating cash outflow against the $32.56 million cash balance by end of Q3 2025.

MediciNova, Inc. (MNOV) - Ansoff Matrix: Diversification

You're looking at how MediciNova, Inc. can move beyond its core CNS/fibrotic focus, which is classic Diversification on the Ansoff Matrix. This means taking on new products in new markets, which inherently carries higher risk but offers potentially higher reward by opening entirely new revenue streams. Honestly, with the lead asset MN-166 in Phase 3 for ALS, you need a plan for what comes next, or how to maximize the existing platform.

MediciNova, Inc. has a clear financial runway tool to consider for these aggressive moves. The Company announced the signing of a Standby Equity Purchase Agreement (SEPA) for up to $30 million worth of common stock over a 36-month period, which you can use to fund these exploratory, high-risk/high-reward diversification efforts. This capital access is key, especially considering the Q3 2025 results showed a net loss of $3.1 million on revenue of $123,300 for that quarter.

Here's a quick look at the current operational base that these diversification strategies would be branching out from:

Metric	Value	Context/Date
SEPA Capacity	$30 million	Up to 36 months, announced July 2025
Q3 2025 Net Loss	$3.1 million	Fiscal Third Quarter 2025
NIH Grant for EAP	$22 million	Supports MN-166 Expanded Access Program
Total Clinical Programs	11	Across MN-166 and MN-001 indications
Q3 2025 Revenue	$123,300	Fiscal Third Quarter 2025

To execute a true diversification strategy, MediciNova, Inc. could explore several distinct paths:

• Acquire a novel, non-small molecule asset (e.g., a gene therapy) in an entirely new therapeutic area like oncology.
• Establish a new subsidiary focused on developing MN-166 for non-CNS indications in emerging markets outside of the US/Japan.
• Utilize the $30 million SEPA to fund early-stage research into completely new compounds.
• Enter the medical device market by developing a companion diagnostic tool for MN-166 patient selection.
• Partner with a major academic center to co-develop a novel compound for a rare pediatric disease in the EU.

Consider establishing a new subsidiary specifically for expanding MN-166 beyond its current neurodegenerative focus. MN-166 is already being evaluated in Phase 2 trials for Long COVID and substance dependence. Targeting emerging markets outside the US and Japan for these non-CNS indications would be a market development move within a product diversification strategy. You'd be taking a known molecule (product) into a new geography (market) for a new indication (product variation).

Another angle is leveraging the existing infrastructure and non-dilutive funding success. MediciNova, Inc. has a strong track record of securing investigator-sponsored clinical trials funded through government grants, such as the $22 million NIH grant supporting the MN-166 Expanded Access Program. This model could be applied to co-develop a novel compound for a rare pediatric disease in the EU by partnering with a major academic center there. This is product diversification, as the compound is novel to MediciNova, Inc., and market diversification, as the EU pediatric rare disease space is new territory.

Entering the medical device space, perhaps developing a companion diagnostic tool for MN-166 patient selection, represents a significant product diversification. This moves MediciNova, Inc. into a completely different regulatory and manufacturing vertical. The potential benefit is better patient stratification for the ongoing Phase 3 ALS trial, which could improve the chance of hitting statistically robust endpoints, which are critical ahead of the expected top-line data in summer 2026.

Finally, using the SEPA funds for early-stage research into completely new compounds-perhaps a small molecule targeting the mechanism of action seen in the recent atherosclerosis publication for MN-001 but applied to a new target class-is the purest form of diversification. This is about acquiring or creating a new product platform entirely separate from ibudilast and tipelukast. Finance: draft 13-week cash view by Friday.