MediciNova shares jump 13.57% premarket after winning BioTech Breakthrough Award for ALS drug candidate MN-166.

MediciNova (NASDAQ:MNOV) rose 13.57% in premarket trading following its recognition as a winner of the "Contract Research and Development Innovation Award" at the Fifth Annual BioTech Breakthrough Awards. The award highlights the company’s progress in developing MN-166 (ibudilast), its lead drug candidate for amyotrophic lateral sclerosis (ALS) and other neurological diseases. The recognition underscores MediciNova’s focus on advancing disease-modifying therapies, with MN-166 currently in Phase 2/3 trials for ALS and nearing Phase 3 readiness for multiple sclerosis. The award, presented by BioTech Breakthrough—a market intelligence organization—signals industry validation of the company’s innovative pipeline and clinical-stage programs, likely boosting investor confidence in its potential to address unmet medical needs in neurodegenerative disorders.