MediciNova (NASDAQ:MNOV), the La Jolla-based biopharmaceutical firm, released its fourth-quarter and full-year 2025 financial results on Friday, February 20, 2026.
While the company continues to operate at a net loss characteristic of clinical-stage biotech firms, management emphasized a stable cash runway and significant progress in its lead neurodegenerative disease programs.
For the quarter ended December 31, 2025, MediciNova reported a net loss of $2.8 million, or $0.05 per share.
This outperformed the analyst consensus estimate of a $0.10 loss per share.
Revenue for the quarter was $152,000, largely derived from a research agreement with the Mayo Foundation for ALS studies.
For the full year, the company’s net loss widened slightly to $12 million ($0.24 per share) on total revenue of $410,000.
Despite the financial deficit, the company’s balance sheet remains a point of stability.
MediciNova ended the year with $30.8 million in cash and cash equivalents.
Management stated that this capital, bolstered by existing equity facilities, is sufficient to fund operations through at least February 2027.