MediciNova terminated its Standby Equity Purchase Agreement with Yorkville II PN, Ltd. effective September 8, 2026. The company previously sold 175,000 shares for $0.2 million under the agreement and had no outstanding obligations or fees due upon termination. MediciNova is a biopharmaceutical company focused on developing therapies for neurodegenerative diseases.

MediciNova entered into new executive employment agreements with President and CEO Yuichi Iwaki and CMO Kazuko Matsuda on August 17, 2026. Dr. Iwaki’s base salary is $690,246 with a target bonus of 55%, while Dr. Matsuda’s base salary is $540,143 with a target bonus of 40%. The agreements specify severance terms for involuntary terminations, including 12 months of salary and COBRA coverage outside change-in-control scenarios, and enhanced payouts up to 24 months of salary plus bonus and accelerated equity vesting within change-in-control windows. These arrangements supersede prior employment contracts. MediciNova is a clinical-stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases.