1. MediciNova is a Japan-based biopharmaceutical company engaged in the acquisition and development of low molecular pharmaceutical products for diseases with no effective treatment, mainly in the U.S. market. The company acquires pharmaceuticals from pharmaceutical companies in Japan and European countries.
Net loss for the fourth quarter is forecast at $5.1 million compared to net income of $5.9 million during fourth-quarter 2009, according to analysts polled by Bloomberg. Loss per share is seen at $1.62 for 2010, as opposed to $1.68 per share reported during 2009. For 2011, loss is likely to increase to $1.89 per share, analysts envisage. The company is expected to earn revenue of $50.2 million during 2014.
Earlier this month, the company signed a letter of intent regarding for forming a joint venture with Zhejiang Medicine Co. to develop and commercialize MN-221 in China. MN-221 is currently in Phase II development for the treatment for acute exacerbations of asthma and chronic obstructive pulmonary disease (COPD) exacerbations in the U.S.All the five analysts covering the stock recommend a buy on it. There are no sell ratings on the stock. Analysts polled by Bloomberg expect the stock to gain an average 226% to $11.72 in value from current levels. >>To see these stocks in action, visit the 5 Health Care Stocks With Upside portfolio on Stockpickr.
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