MediciNova Added to Russell 3000® Index and Russell Global Index
June 26 2016 - 7:00PM
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), today announced that the
Company has been added to the Russell 3000® Index and the
Russell Global Index as a result of the annual Russell index
reconstitution. MediciNova joined the indexes after the U.S.
stock market closed on June 24, 2016. The Russell 3000® Index
measures the performance of the stocks of the 3,000 largest U.S.
companies. Russell indexes are widely used by investment
managers and institutional investors for index funds,
exchange-traded funds (ETFs), and as benchmarks for active
investment strategies. Approximately $5.7 trillion in assets
are benchmarked to the Russell indexes, and more institutional
funds track them than all other U.S. equity indexes combined.
Yuichi Iwaki, MD, PhD, President and Chief
Executive Officer of MediciNova, Inc., commented, “We are excited
that MediciNova has been added to the Russell indexes. We
consider this milestone to be a substantial accomplishment as it
validates our tireless work to create value for the company.
We believe our inclusion in the indexes will raise our
profile in the investment community and add additional value for
our shareholders. We remain focused on our mission to develop
promising new therapies for diseases with high unmet medical needs
and we continue to manage our expenses efficiently.”
About Russell Indexes
Russell indexes are widely used by investment
managers and institutional investors for index funds,
exchange-traded funds (ETFs), and as benchmarks for active
investment strategies. Approximately $5.7 trillion in assets are
benchmarked to the Russell indexes, and more institutional funds
track them than all other U.S. equity indexes combined. The
Russell 3000® Index is comprised of the Russell 1000® Index (the
largest 1,000 U.S. listed stocks by market capitalization) and the
Russell 2000® Index (the next 2,000 largest U.S. listed stocks by
market capitalization). The Russell Global Index is an index
measuring the performance of the stocks of companies throughout the
world including the stocks in the Russell 3000® Index and stocks of
non-U.S. companies. Russell indexes are maintained by FTSE
Russell, a leading global index provider.
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 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
and substance dependence (e.g., methamphetamine dependence and
opioid dependence), 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 exacerbations 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.
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. 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, 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, 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, 2015 and its subsequent periodic
reports on Forms 10-Q and 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'Brien
Vice President
MediciNova, Inc.
info@medicinova.com
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