MediciNova Stock Spikes on Coronavirus-Vaccine Progress

MediciNova's shares jumped after the drugmaker reported that its coronavirus-vaccine prototype showed antibody production in mice.
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MediciNova  (MNOV) - Get Report shares jumped on Wednesday after the drugmaker said its intranasal coronavirus vaccine prototype was showing some success in tests on mice. 

The study measured antibody production against the coronavirus antigen after intranasal vaccination with its candidate. 

The study confirmed a high antibody titer against antigens was induced in the mice serum. Titer is the level of antibodies in a blood sample.

"These successful results support the scientific and technical rationale of our intranasal vaccine in addition to similar success with BioComo’s BC-PIV RSV vaccine prototype," Yuichi Iwaki, a physician and the La Jolla, Calif., company's chief executive, said in a statement. 

The company also said that it soon would report additional progress on the vaccine.

The vaccine is designed to display the foreign coronavirus protein on the surface and inside of the viral membrane, making it easier to carry the large membrane proteins of viruses.

MediciNova shares at last check jumped 12% to $6.18. 

Earlier this week, two coronavirus vaccines that were developed by Chinese state drug firm China National Biotec Group started being assessed for "conditional approval" to be administered to the general public. 

The company said that the vaccines are "very likely" to be launched by the end of this year, though there are still uncertainties. 

Last week, Pfizer's  (PFE) - Get Report CEO said that a vaccine could be distributed by year's end. 

The company expects to have enough data from its late-stage vaccine trial for the Food and Drug Administration at the end of October.

If Pfizer gets clearance from the FDA, the New York health-care giant is prepared to distribute “hundreds of thousands of doses.”

Pfizer’s vaccine candidate is being developed in partnership with BioNTech  (BNTX) - Get Report. The companies in July received $1.95 billion from the U.S. government, as part of Operation Warp Speed, to produce and deliver 100 million doses.