On Mar. 3, 2021, MediciNova announced an update on the development of a SARS-CoV-2 vaccine for COVID-19.  MediciNova has conducted a careful review of its numerous development programs to determine the best allocation of resources going forward considering the stage of development, expected costs of completing clinical development, and the competitive landscape.

Given the COVID-19 vaccines currently in use and other vaccines in advanced stages of development, MediciNova has decided to discontinue development of a SARS-CoV-2 vaccine for COVID-19 in order to maintain adequate resources for its other development programs which have indications with larger unmet medical needs and market opportunities.

MediciNova is a publicly-traded biopharmaceutical company founded upon developing novel, small-molecule therapeutics for the treatment of diseases with unmet medical needs with a primary commercial focus on the U.S. market.