MediciNova is a clinical-stage biopharmaceutical company developing two licensed drug candidates with no approved products or commercial revenue. The company's lead asset is MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective small molecule originally developed in Japan, where it has been used to treat asthma and post-stroke dizziness. MediciNova is advancing ibudilast across several neurological indications, most notably progressive MS and ALS. In progressive MS, a completed Phase 2b trial showed a statistically significant 48% reduction in brain atrophy rate vs. placebo, with results published in the New England Journal of Medicine, though a Phase 3 trial has not yet started. In ALS, the COMBAT-ALS Phase 2b/3 trial has completed enrollment. Ibudilast is also being studied in glioblastoma and degenerative cervical myelopathy. MediciNova's second asset, MN-001 (tipelukast), is an oral anti-fibrotic small molecule in a Phase 2 trial for NAFLD/NASH. MediciNova's business model relies on in-licensing drug candidates from Kyorin Pharmaceuticals, running clinical trials, and then seeking partnerships or out-licensing deals with larger pharma companies for commercialization. The company keeps costs low by employing only six people and leveraging NIH and academic partnerships to fund trials. MediciNova has no sales infrastructure, and its path to revenue depends entirely on either a successful partnership or drug approval.