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MNOV logoMediciNova, Inc.(MNOV)Earnings, Financials & Key Ratios

MNOV•NASDAQ
$1.45
$71M mkt cap·Price updated May 6, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryNeuroscience and Psychiatry Therapies
AboutMediciNova, Inc., a biopharmaceutical company, focuses on developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. The company is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological disorders, such as primary and secondary progressive multiple sclerosis, amyotrophic lateral sclerosis, chemotherapy-induced peripheral neuropathy, degenerative cervical myelopathy, glioblastoma, and substance dependence and addiction. Its product pipeline also includes MN-221 (bedoradrine), a selective beta-2-adrenergic receptor agonist for the treatment of acute exacerbations of asthma; MN-001 (tipelukast), an orally bioavailable small molecule compound to treat fibrotic diseases, including nonalcoholic steatohepatitis and idiopathic pulmonary fibrosis; and MN-029 (denibulin), a tubulin binding agent for treating solid tumor cancers. The company has collaboration agreements with Kissei Pharmaceutical Co., Ltd.; Kyorin Pharmaceutical Co., Ltd; Angiogene Pharmaceuticals Ltd.; and Meiji Seika Kaisha Ltd. MediciNova, Inc. was incorporated in 2000 and is headquartered in La Jolla, California.Show more
  • Revenue$410K
  • EBITDA-$13M-5.0%
  • Net Income-$12M-8.6%
  • EPS (Diluted)-0.24-4.3%
  • Gross Margin7.58%
  • EBITDA Margin-3242.47%
  • Operating Margin-3242.47%
  • Net Margin-2928.78%
  • ROE-25.5%-32.6%
  • ROIC-85.47%-7.6%
  • Debt/Equity0.00+26.6%
Technical→

MNOV Key Insights

MediciNova, Inc. (MNOV) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MNOV Price & Volume

MediciNova, Inc. (MNOV) stock price & volume — 10-year historical chart

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MNOV Growth Metrics

MediciNova, Inc. (MNOV) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM-

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-8.58%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-6.48%

Return on Capital

10 Years-22.3%
5 Years-19.29%
3 Years-21.57%
Last Year-28.05%

MNOV Peer Comparison

MediciNova, Inc. (MNOV) competitors in Neuroscience and Psychiatry Therapies — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
SIGA logoSIGASIGA Technologies, Inc.Direct Competitor336.57M4.7014.24-31.8%24.64%0%0
NRXP logoNRXPNRx Pharmaceuticals, Inc.Direct Competitor84.43M3.05-2.28-157.28%
AVXL logoAVXLAnavex Life Sciences Corp.Direct Competitor309.52M3.34-6.19-31.55%
ATHA logoATHAAthira Pharma, Inc.Direct Competitor17.12M4.34-0.17-340.97%0.03
PRAX logoPRAXPraxis Precision Medicines, Inc.Direct Competitor7.61B337.95-25.07-100%-58.74%0.00
INVA logoINVAInnoviva, Inc.Product Competitor1.91B22.526.8218.52%118.91%46.47%0.23
SUPN logoSUPNSupernus Pharmaceuticals, Inc.Product Competitor2.96B51.45-75.668.63%-3.74%-2.73%0.04
ACAD logoACADACADIA Pharmaceuticals Inc.Product Competitor3.68B21.489.3811.87%36.49%41.9%0.04

Compare MNOV vs Peers

MediciNova, Inc. (MNOV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SIGA

Most directly comparable listed peer for MNOV.

Scale Benchmark

vs IQV

Larger-name benchmark to compare MNOV against a more recognizable public peer.

Peer Set

Compare Top 5

vs SIGA, NRXP, AVXL, ATHA

MNOV Income Statement

MediciNova, Inc. (MNOV) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue00004.04M01M0409.66K
Revenue Growth %------100%--100%-
Cost of Goods Sold28.1K25.88K23.94K00000378.61K
COGS % of Revenue--------92.42%
Gross Profit
-28.1K▲ 0%
-25.88K▲ 7.9%
-23.94K▲ 7.5%
0▲ 100.0%
4.04M▲ 0%
0▼ 100.0%
1M▲ 0%
0▼ 100.0%
31.05K▲ 0%
Gross Margin %----100%-100%-7.58%
Gross Profit Growth %-98.9%7.89%7.48%100%--100%--100%-
Operating Expenses13.03M15.59M14.03M14.18M14.25M14.63M10.9M12.68M13.31M
OpEx % of Revenue----353.02%-1090.03%-3250.05%
Selling, General & Admin8.8M9.96M7.95M6.69M5.72M5.48M5.24M5.48M6.16M
SG&A % of Revenue----141.56%-524.24%-1503.5%
Research & Development4.22M5.63M6.08M7.49M8.1M9.14M5.66M7.2M7.15M
R&D % of Revenue----200.62%-565.83%-1746.55%
Other Operating Expenses120.2K-22.89K-46.16K-357438K388-400-4130
Operating Income
-13.03M▲ 0%
-15.59M▼ 19.6%
-14.03M▲ 10.0%
-14.18M▼ 1.0%
-10.22M▲ 27.9%
-14.63M▼ 43.2%
-9.9M▲ 32.3%
-12.68M▼ 28.0%
-13.28M▼ 4.8%
Operating Margin %-----253.02%--990.03%--3242.47%
Operating Income Growth %-19.71%-19.65%9.98%-1.05%27.95%-43.2%32.32%-28.03%-4.79%
EBITDA-13M-15.56M-14.01M-14.16M-10.19M-14.61M-9.88M-12.65M-13.28M
EBITDA Margin %-----252.38%--988%--3242.47%
EBITDA Growth %-19.61%-19.71%9.99%-1.07%28.02%-43.39%32.38%-28.08%-4.97%
D&A (Non-Cash Add-back)28.1K25.88K23.94K21.34K26.15K17.71K20.3K21.08K0
EBIT-12.91M-15.59M-14.03M-14.18M-10.22M-14.63M-9.9M-12.68M-13.28M
Net Interest Income001.15M361.18K143.63K809.67K1.83M1.67M1.3M
Interest Income0939.91K1.15M361.18K143.63K809.67K1.83M1.67M1.3M
Interest Expense29800000000
Other Income/Expense119.91K917.01K1.1M322.78K84.13K562.39K1.33M1.63M1.29M
Pretax Income
-12.91M▲ 0%
-14.67M▼ 13.7%
-12.93M▲ 11.9%
-13.86M▼ 7.2%
-10.13M▲ 26.9%
-14.07M▼ 38.8%
-8.57M▲ 39.1%
-11.04M▼ 28.9%
-11.99M▼ 8.6%
Pretax Margin %-----250.94%--856.85%--2927.32%
Income Tax-1.74M5.28K12.66K-1.65K2.57K2.82K3.05K5.54K5.99K
Effective Tax Rate %13.51%-0.04%-0.1%0.01%-0.03%-0.02%-0.04%-0.05%-0.05%
Net Income
-11.16M▲ 0%
-14.68M▼ 31.5%
-12.94M▲ 11.8%
-13.85M▼ 7.0%
-10.13M▲ 26.8%
-14.07M▼ 38.8%
-8.57M▲ 39.1%
-11.05M▼ 28.9%
-12M▼ 8.6%
Net Margin %-----251%--857.15%--2928.78%
Net Income Growth %-2.73%-31.46%11.81%-7.05%26.85%-38.83%39.08%-28.91%-8.58%
Net Income (Continuing)-11.16M-14.68M-12.94M-13.85M-10.13M-14.07M-8.57M-11.05M-12M
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)
-0.32▲ 0%
-0.36▼ 12.5%
-0.30▲ 16.7%
-0.31▼ 3.3%
-0.21▲ 32.3%
-0.29▼ 38.1%
-0.17▲ 41.4%
-0.23▼ 35.3%
-0.24▼ 4.3%
EPS Growth %3.03%-12.5%16.67%-3.33%32.26%-38.1%41.38%-35.29%-4.35%
EPS (Basic)-0.32-0.36-0.30-0.31-0.21-0.29-0.17-0.23-0.24
Diluted Shares Outstanding35.14M41.12M43.16M44.41M48.6M49.05M49.05M49.05M49.06M
Basic Shares Outstanding35.14M41.12M43.16M44.41M48.6M49.05M49.05M49.05M49.06M
Dividend Payout Ratio---------

MNOV Balance Sheet

MediciNova, Inc. (MNOV) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets28.33M62.76M64.3M60.72M72.01M58.99M51.17M41.07M30.99M
Cash & Short-Term Investments27.99M62.31M63.79M60.04M71.43M58.49M51M40.36M30.81M
Cash Only27.99M62.31M63.79M60.04M71.43M18.51M51M40.36M30.81M
Short-Term Investments0000039.98M000
Accounts Receivable000000000
Days Sales Outstanding---------
Inventory000000000
Days Inventory Outstanding---------
Other Current Assets00511.92K000174.94K714.54K184.83K
Total Non-Current Assets15.09M14.46M14.9M14.7M15.4M15.17M15.1M14.8M14.61M
Property, Plant & Equipment62.89K53.13K40.55K226.56K881.78K674.76K621.21K382.41K192.57K
Fixed Asset Turnover----4.58x-1.61x-2.13x
Goodwill9.6M9.6M9.6M9.6M9.6M9.6M9.6M9.6M9.6M
Intangible Assets4.8M4.8M4.8M4.8M4.8M4.8M4.8M4.8M0
Long-Term Investments616.66K00000000
Other Non-Current Assets10.96K10.96K459.81K75.38K115.49K92.79K74.15K19K4.82M
Total Assets
43.42M▲ 0%
77.22M▲ 77.9%
79.21M▲ 2.6%
75.42M▼ 4.8%
87.41M▲ 15.9%
74.15M▼ 15.2%
66.27M▼ 10.6%
55.88M▼ 15.7%
45.6M▼ 18.4%
Asset Turnover----0.05x-0.02x-0.01x
Asset Growth %9.06%77.85%2.57%-4.78%15.89%-15.16%-10.63%-15.68%-18.39%
Total Current Liabilities2.88M2.19M2.23M2.19M2.83M3.19M3.28M2.96M3.8M
Accounts Payable1.52M616.75K451.33K616.63K402.74K424.65K1M1.1M625K
Days Payables Outstanding19.75K8.7K6.88K-----602.53
Short-Term Debt00216.77K00000194.33K
Deferred Revenue (Current)1.69B1.69B000000370.16K
Other Current Liabilities0191.93K791.65K924.3K547.27K184.1K988.76K912.78K2.61M
Current Ratio9.83x28.63x28.86x27.67x25.42x18.51x15.61x13.88x8.16x
Quick Ratio9.83x28.63x28.86x27.67x25.42x18.51x15.61x13.88x8.16x
Cash Conversion Cycle---------
Total Non-Current Liabilities1.9M1.92M2.08M1.9M896.47K725.41K612.45K413.25K218.92K
Long-Term Debt000000000
Capital Lease Obligations00182.58K0694.67K523.62K000
Deferred Tax Liabilities201.79K201.79K201.79K201.79K00201.79K201.79K201.79K
Other Non-Current Liabilities027.21K3.78K2.71K201.79K201.79K410.66K211.46K17.13K
Total Liabilities4.78M4.12M4.31M4.09M3.73M3.91M3.89M3.37M4.02M
Total Debt027.21M399.35K186.03K826.64K681.12K215.93K193.77K194.33K
Net Debt-27.99M-35.1M-63.39M-59.85M-70.6M-17.82M-50.78M-40.17M-30.61M
Debt / Equity-0.37x0.01x0.00x0.01x0.01x0.00x0.00x0.00x
Debt / EBITDA---------
Net Debt / EBITDA---------
Interest Coverage-43715.08x--------
Total Equity
38.64M▲ 0%
73.11M▲ 89.2%
74.89M▲ 2.4%
71.33M▼ 4.8%
83.68M▲ 17.3%
70.24M▼ 16.1%
62.38M▼ 11.2%
52.5M▼ 15.8%
41.59M▼ 20.8%
Equity Growth %11.9%89.19%2.44%-4.76%17.32%-16.06%-11.2%-15.83%-20.79%
Book Value per Share1.101.781.741.611.721.431.271.070.85
Total Shareholders' Equity38.64M73.11M74.89M71.33M83.68M70.24M62.38M52.5M41.59M
Common Stock36.45K42.08K43.91K45.02K49.04K49.05K49.05K49.05K49.22K
Retained Earnings-341.46M-356.13M-369.07M-382.93M-393.06M-407.13M-415.7M-426.75M-438.75M
Treasury Stock000000000
Accumulated OCI-94.62K-93.15K-92.68K-88.22K-98.88K-115.28K-118.09K-135.15K-127.18K
Minority Interest000000000

MNOV Cash Flow Statement

MediciNova, Inc. (MNOV) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-6.92M-9.11M-9.12M-10.83M-9.38M-12.91M-7.43M-10.64M-9.81M
Operating CF Margin %-----232.36%--743.1%--2394.7%
Operating CF Growth %-5.77%-31.63%-0.12%-18.65%13.34%-37.63%42.45%-43.22%7.83%
Net Income-11.16M-14.68M-12.94M-13.85M-10.13M-14.07M-8.57M-11.05M-12M
Depreciation & Amortization28.1K25.88K23.94K21.34K26.15K17.71K20.3K21.08K20.1K
Stock-Based Compensation4.47M6.33M4.11M3.18M1.72M642.52K710.71K1.19M829.1K
Deferred Taxes-1.9M00000000
Other Non-Cash Items1.9M-19.87K0210.21K216.93K163.19K297.49K173.32K878.83K
Working Capital Changes-265.51K-775.35K-319.92K-379.57K-1.21M334.1K111.99K-979.56K459.87K
Change in Receivables242.06K-111.68K-514.02K000000
Change in Inventory000000000
Change in Payables1.25M-663.67K194.1K-4.77K-1.03M329.01K19.24K-312.35K459.87K
Cash from Investing-84.48M626.32K-11.27K-36.49K-28.73K-40.01M39.91M-697-2.9K
Capital Expenditures0-10.2K-11.27K-36.49K-28.73K-5.01K-21.3K-8950
CapEx % of Revenue----0.71%-2.13%--
Acquisitions0636.52K0005.01M000
Investments---------
Other Investing-84.48M636.52K000-5.01M0198-2.9K
Cash from Financing10.8M42.81M10.62M7.11M20.78M7.92K00244.02K
Debt Issued (Net)000000000
Equity Issued (Net)1000K1000K1000K1000K1000K7.92K000
Dividends Paid000000000
Share Repurchases000000000
Other Financing77.32K51.01K-261.05K-192.13K-112.26K000244.02K
Net Change in Cash
3.87M▲ 0%
34.32M▲ 786.0%
1.48M▼ 95.7%
-3.76M▼ 353.9%
11.39M▲ 403.4%
-52.93M▼ 564.5%
32.49M▲ 161.4%
-10.64M▼ 132.7%
-9.55M▲ 10.2%
Free Cash Flow
-6.92M▲ 0%
-9.12M▼ 31.8%
-9.14M▼ 0.1%
-10.86M▼ 18.9%
-9.41M▲ 13.4%
-12.92M▼ 37.3%
-7.45M▲ 42.3%
-10.64M▼ 42.8%
-9.81M▲ 7.8%
FCF Margin %-----233.07%--745.23%--2394.7%
FCF Growth %-4.42%-31.78%-0.13%-18.9%13.37%-37.26%42.3%-42.83%7.83%
FCF per Share-0.20-0.22-0.21-0.24-0.19-0.26-0.15-0.22-0.20
FCF Conversion (FCF/Net Income)0.62x0.62x0.71x0.78x0.93x0.92x0.87x0.96x0.82x
Interest Paid000000000
Taxes Paid9.2K6K11.27K1.49K003.67K5.04K0

MNOV Key Ratios

MediciNova, Inc. (MNOV) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-32.3%-30.51%-26.26%-17.49%-18.95%-13.08%-18.28%-12.93%-19.24%-25.5%
Return on Invested Capital (ROIC)-46.99%-88.69%-48.05%-42.51%-92.56%-62.42%-33.51%-23.2%-79.44%-85.47%
Gross Margin-----100%-100%-7.58%
Net Margin------251%--857.15%--2928.78%
Debt / Equity0.03x-0.37x0.01x0.00x0.01x0.01x0.00x0.00x0.00x
Interest Coverage-23968.80x-43715.08x--------
FCF Conversion0.60x0.62x0.62x0.71x0.78x0.93x0.92x0.87x0.96x0.82x
Revenue Growth-------100%--100%-

MNOV Frequently Asked Questions

MediciNova, Inc. (MNOV) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

MediciNova, Inc. (MNOV) reported $0.4M in revenue for fiscal year 2025.

MediciNova, Inc. (MNOV) grew revenue by 0.0% over the past year. Growth has been modest.

MediciNova, Inc. (MNOV) reported a net loss of $12.0M for fiscal year 2025.

Dividend & Returns

MediciNova, Inc. (MNOV) has a return on equity (ROE) of -25.5%. Negative ROE indicates the company is unprofitable.

MediciNova, Inc. (MNOV) had negative free cash flow of $9.8M in fiscal year 2025, likely due to heavy capital investments.

Explore More MNOV

MediciNova, Inc. (MNOV) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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