(MNOV, PMCS, FRAN) PennyOmega.com Watch List for Wed Mar. 14, 2012

MNOV, MediciNova, Inc. ** MNOV reported that it has received a Notice of Allowance from the Japanese Patent Office for a pending patent application, which covers the use of ibudilast (MN-166) for the treatment of multiple forms of chronic neuropathic pain. MN-166 is MNOV’s lead drugdevelopment candidate for certain neurological conditions, including progressive forms of multiple sclerosis, neuropathic pain, and drug addiction. A patent maturing from this allowed patent application is expected to expire no earlier than the end of 2025 and covers a method of treating certain existing chronic neuropathic pain conditions by administering ibudilast either alone or in combination with other active ingredients, such as analgesic drugs. Some of the chronic neuropathic pain conditions covered includes those following herpes infection (postherpetic neuralgia), spinal cord injury, stroke, and cancer chemotherapy and other syndromes covered include fibromyalgia and complex regional pain. The allowance of these claims in Japan compliments company-owned patent rights for methods of treating existing chronic neuropathic pain conditions with ibudilast administration that are already awarded in the United States and Canada. Neuropathic pain typically results from nerve injury and can be particularly difficult to treat and often becomes chronic. The nerve damage may be related to various cancer treatments, surgical procedures, trauma, or as a complication of viruses that target the nervous system such as herpes zoster (the cause of shingles) or HIV. While estimates of prevalence vary, more than 1 million Japanese and 2 million North Americans are believed to be afflicted with chronic neuropathic pain, often treated inadequately with available therapies. Ibudilast has been used in asthma and post-stroke disorders in Japan for around 20 years. MNOV has demonstrated the potential utility of ibudilast in the treatment of neurological disorders at higher doses with encouraging outcomes in company-sponsored clinical trials in multiple sclerosis (MS) and neuropathic pain. MNOV is a biopharmaceutical company founded upon acquiring and developing novel, small-molecule therapeutics for the treatment of diseases with unmet need with a commercial focus on the U.S. market. Through strategic alliances primarily with Japanese pharmaceutical companies, MNOV holds rights to a diversified portfolio of clinical and preclinical product candidates, each of which MNOV believes has a well-characterized and differentiated therapeutic profile, attractive commercial potential, and patent coverage of commercially adequate scope. More about MNOV at www.medicinova.com. ****************** PMCS, PMC-Sierra, Inc. ** PMCS’ board of directors has authorized a new share repurchase program for up to $275 million of its common stock. In the fourth quarter of 2011, PMCS’ board of directors authorized a $40 million share repurchase program to commence in 2012. The new $275 million repurchase program will increase the total authorization to $315 million. According to the company, as of February 24, 2012, PMCS had 231.7 million shares of common stock outstanding and its cash position, net of the $68 million face value of its convertible notes, was approximately $447 million. In connection with the repurchase program, PMCS may adopt one or more plans pursuant to the provisions of Rule 10b5-1 under the Securities Exchange Act of 1934. Share repurchases under these authorizations may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, or any combination of such methods. PMCS’ board of directors has not established an end date for the new $275 million repurchase program. PMCS’ stock repurchase program does not obligate the company to acquire any particular amount of its common stock, and the repurchase program may be suspended or discontinued at any time at PMCS’ discretion. PMCS is the semiconductor innovator transforming networks that connect, move and store digital content. Building on a track record of technology leadership, PMCS is driving innovation across storage, optical and mobile networks. More about PMCS at www.pmcs.com. ****************** FRAN, Francesca’s Holdings Corporation ** For the fiscal fourth quarter ended January 28, 2012, FRAN posted net sales of $61.7 million, a 54.6% increase year over year, and income from operations increased 62.3% to $14.5 million, compared to the same period the prior year. According to its outlook, for the year ending February 2, 2013, FRAN’s net sales are expected to be in the range of $268.0 million to $274.0 million, assuming a mid-single-digit comparable boutique sales increase and the opening of 76 new boutiques. Net income is estimated to be in the range of $34.0 to $36.2 million. Earnings per diluted share are expected to be in the range of $0.76 to $0.81, based on estimated 44.7 million weighted average outstanding shares. FRAN is a growing specialty retailer with retail locations designed and merchandised to feel like independently owned, upscale boutiques providing customers a fun and differentiated shopping experience. More about FRAN at www.francescas.com ********************** THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. 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