12:29 PM EDT, 08/30/2024 (MT Newswires) -- MediciNova ( MNOV ) rose 7.3% in recent Friday trading after the company announced late Thursday that its drug MN-166 was due to receive a US patent.

The US Patent and Trademark Office issued a notice of allowance that would cover the use of MN-166, or ibudilast, in treating a number of post-COVID conditions, including anxiety, smell or taste dysfunction, sleep difficulties, and shortness of breath.

Once issued, the patent is expected to expire no earlier than November 2042, the company said.

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