MediciNova Shares Fall After Phase 2 Tipelukast Trial Misses Primary Endpoints

MediciNova Inc's stock fell 8.9% in pre-market trading after its Phase 2 trial data showed mixed results, failing to meet co-primary endpoints at 24 weeks. The trial tested MN-001 for NAFLD and hypertriglyceridemia in type 2 diabetes patients. The decline is exacerbated by a broader market downturn, with the Nasdaq and S&P 500 also down.

MediciNova Inc (MNOV) shares dropped 14.7% premarket after mixed Phase 2 trial results for tipelukast (MN-001) in treating NAFLD and hypertriglyceridemia. While the drug showed improvements in HDL cholesterol and particle concentration, key metrics like triglyceride reduction and liver fat changes were not statistically significant. The company plans further analysis and future study assessments.

Oracle (ORCL) and Dell (DELL) are key players in AI infrastructure, with different business models. ORCL has $638B in RPO, expects 34% revenue growth, but faces financial strain. DELL has a $95B AI server backlog, raised FY2027 guidance to $192B revenue, and $25.50 EPS. ORCL trades at 15.21x P/E, DELL at 19.67x. ORCL is down 29.7% YTD, DELL up 347.2%.

Piper Sandler analyst Thomas Champion forecasts Google's external Tensor Processing Unit (TPU) business to generate $104 billion in revenue by 2028, up from $8 billion in 2026. The firm raised its Alphabet price target to $400 from $395, citing potential growth in AI chip demand. Alphabet shares fell 0.7% in premarket trading.

IREN Limited (IREN) fell 3% premarket after Jones Trading initiated coverage with a Hold rating, citing growth challenges despite strong AI demand. Analyst Kevin Dede noted IREN's vast customer base and Microsoft (MSFT) as its sole investment-grade customer. IREN recently secured a $5.5B deal with Nvidia (NVDA). Dede highlighted concerns over retail ownership and executive compensation but acknowledged industry demand.

Dell Technologies reported a $95 billion AI server backlog after a record quarter, with $60.9 billion in new orders. Its Infrastructure Solutions Group revenue rose 89% YoY to $31.8 billion. Goldman Sachs projects the AI server market could reach $1.24 trillion by 2030. Dell's stock has surged 347% in 2026, with some investors predicting it could nearly triple by 2030, though risks include order delays and margin pressures.