MediciNova announces common stock offering
MediciNova announced that it intends to offer shares of its common stock in an underwritten public offering. All of the shares of common stock to be sold in the offering will be offered by MediciNova. MediciNova intends to use the net proceeds received from the offering primarily to continue to fund the development of its MN-166 and MN-001 programs, including a Phase 3 clinical trial of MN-166 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., a subsidiary of Ladenburg Thalmann Financial Services, is acting as sole book-running manager of the offering. B. Riley FBR is acting as lead manager of the offering.