MediciNova Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of $3,257 against $191,174 a year ago. Operating loss was $2,417,294 against $3,873,259 a year ago. Loss before income taxes was $2,420,259 against $3,867,223 a year ago. Net loss applicable to common stockholders was $2,419,014 or $0.14 per basic and diluted common share against $3,867,223 or $0.24 per basic and diluted common share a year ago.

MediciNova Inc. (NasdaqGM:MNOV) is looking for acquisition opportunities. MediciNova Inc. has filed a Follow-on Equity Offering to raise net proceeds of $6 million. MediciNova intends to use the net proceeds for general corporate purposes, including the further development, manufacture and commercialization of MediciNova prioritized product candidates and for other working capital expenditure and to acquire or invest in businesses, products and technologies that are complementary to MediciNova own.

MediciNova Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter ended December 31, 2012, the company reported a net loss of $2.4 million, or $0.14 per share, compared to a net loss of $3.5 million, or $0.22 per share, for the same period last year. For the year, the company reported revenues of $802,580. Operating loss was $10,945,356 against $16,108,434 a year ago. Loss before income taxes was $10,950,170 against $17,722,503 a year ago. Net loss applicable to common stockholders was $10,961,314 or $0.66 per basic and diluted share against $17,734,076 or $1.20 per basic and diluted share a year ago.