MediciNova's MN-001 Fails Phase 2 NAFLD Trial; MNOV Stock Plunges Premarket

MediciNova Inc. (MNOV) reported topline results from its Phase 2 MN-001-NATG-202 trial of MN-001 in patients with hypertriglyceridemia and non-alcoholic fatty liver disease (NAFLD) associated with type 2 diabetes mellitus. The stock plunged in premarket trading on Monday, September 28, 2026, following the disclosure. The company announced the data without disclosing specific efficacy endpoints or statistical outcomes in the headline release. The trial targeted a patient population with both elevated triglycerides and T2DM-associated NAFLD, a condition with limited approved treatment options. MNOV shares fell sharply in premarket activity as investors reacted to the results, which failed to meet expectations for the experimental therapy. Financial terms and full data details were not immediately available.