BUZZ-MediciNova shares fall as its drug for fatty liver disease fails to achieve statistical significance in lowering blood lipids

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September 28 - ** Drug development company MediciNova (MNOV.O) shares fell 25.4% to $1.93

** The company stated that its experimental oral drug MN-001 lowered blood lipid levels in a mid-stage trial involving 40 patients with fatty liver, high triglycerides, and type 2 diabetes

** After 24 weeks, triglyceride levels in patients taking the drug dropped by about 22%, compared to a drop of only about 7% in those receiving placebo, though this difference was not statistically significant

** The drug led to a significant increase in HDL (often referred to as "good" cholesterol), while reductions in liver fat and body weight were not statistically significant

** No serious drug-related adverse effects were reported; the company stated that larger studies are needed to further assess the drug's efficacy

**Taking this transaction into account, MNOV is up 45% so far this year

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