MEDICINOVA INC. Files Q2 2024 10-Q Report
Ticker: MNOV · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 1226616
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
MNOV Q2 10-Q is in. Check financials.
AI Summary
MEDICINOVA INC. filed its 10-Q for the period ending June 30, 2024. The company's fiscal year ends on December 31st. Key financial data points and equity incentive plan details are included in this filing, which was submitted on August 8, 2024.
Why It Matters
This filing provides investors with an update on Medicinova's financial performance and operational status for the second quarter of 2024, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks highlighted.
Key Numbers
- 20240630 — Period End Date (The end of the fiscal quarter being reported.)
- 20240808 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 1231 — Fiscal Year End (Indicates the end of the company's annual accounting period.)
Key Players & Entities
- MEDICINOVA INC. (company) — Filer of the 10-Q report
- 20240630 (date) — End of the reporting period
- 20240808 (date) — Filing date of the report
- LA JOLLA, CA (location) — Business and mailing address of the company
- BRileyFBRIncMember (company) — Mentioned in relation to an at-market issuance sales agreement
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides a comprehensive update on MEDICINOVA INC.'s financial performance and condition for the quarterly period ending June 30, 2024.
When was this 10-Q report filed with the SEC?
This 10-Q report was filed on August 8, 2024.
What is MEDICINOVA INC.'s fiscal year end date?
MEDICINOVA INC.'s fiscal year ends on December 31st.
Where is MEDICINOVA INC. located?
MEDICINOVA INC.'s business and mailing address is 4275 EXECUTIVE SQUARE, SUITE 300, LA JOLLA, CA 92037.
Are there any specific equity incentive plans mentioned in the filing details?
Yes, the filing details mention 'mnov:TwoThousandTwentyThreeEquityIncentivePlanMember' in relation to employee stock options.
Filing Stats: 4,298 words · 17 min read · ~14 pages · Grade level 17.2 · Accepted 2024-08-08 16:32:00
Key Financial Figures
- $0.001 — ction 12(b) of the Act: Common Stock, $0.001 par value MNOV The Nasdaq Stock Mar
Filing Documents
- mnov-20240630.htm (10-Q) — 895KB
- mnov-ex10_1.htm (EX-10.1) — 47KB
- mnov-ex31_1.htm (EX-31.1) — 13KB
- mnov-ex31_2.htm (EX-31.2) — 14KB
- mnov-ex32_1.htm (EX-32.1) — 9KB
- mnov-ex32_2.htm (EX-32.2) — 9KB
- 0000950170-24-094092.txt ( ) — 3970KB
- mnov-20240630.xsd (EX-101.SCH) — 632KB
- mnov-20240630_htm.xml (XML) — 517KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 5 ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) 5 ITEM 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 17 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 22 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 22
OTHER INFORMATION
PART II. OTHER INFORMATION 23 ITEM 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 23 ITEM 1A.
RISK FACTORS
RISK FACTORS 23 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 23 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 23 ITEM 4. MINE SAFETY DISCLOSURES 23 ITEM 5. OTHER INFORMATION 23 ITEM 6. EXHIBITS 24
FINANCI AL INFORMATION
PART I. FINANCI AL INFORMATION
CONDENSED CONSOLIDATED F INANCIAL STATEMENTS
ITEM 1. CONDENSED CONSOLIDATED F INANCIAL STATEMENTS. MEDICINOVA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 44,337,824 $ 50,999,442 Prepaid expenses and other current assets 1,167,763 174,938 Total current assets 45,505,587 51,174,380 Goodwill 9,600,240 9,600,240 In-process research and development 4,800,000 4,800,000 Property and equipment, net 35,813 45,800 Right-of-use asset 443,172 575,406 Other non-current assets 18,996 74,151 Total assets $ 60,403,808 $ 66,269,977 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 667,695 $ 1,003,937 Accrued liabilities and other current liabilities 1,636,637 2,059,238 Operating lease liability 190,047 215,926 Total current liabilities 2,494,379 3,279,101 Deferred tax liability 201,792 201,792 Other non-current liabilities 302,483 410,660 Total liabilities 2,998,654 3,891,553 Commitments and contingencies (Note 4) Stockholders' equity: Common stock, $ 0.001 par value; 100,000,000 shares authorized at June 30, 2024 and December 31, 2023; 49,046,246 and 49,046,246 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 49,046 49,046 Additional paid-in capital 478,572,046 478,149,161 Accumulated other comprehensive loss ( 131,527 ) ( 118,090 ) Accumulated deficit ( 421,084,411 ) ( 415,701,693 ) Total stockholders' equity 57,405,154 62,378,424 Total liabilities and stockholders' equity $ 60,403,808 $ 66,269,977 See accompanying notes. 5 MEDICINOVA, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Operating expenses: Research, development and patents $ 1,646,049