Medicenna Therapeutics FY26 Loss Widens

(RTTNews) - Medicenna Therapeutics Corp. (MDNAF) reported a wider loss for the financial year ended March 31, 2026, and provided updates on its anticipated clinical milestones.

Company Profile

Medicenna Therapeutics Corp., is a clinical-stage immunotherapy company focused on developing engineered interleukin-based therapies for cancer, autoimmune, and inflammatory diseases using its proprietary Superkine, BiSKIT, and T-MASK platforms.

The company's pipeline includes MDNA11, an IL-2 Super Agonist being evaluated in Phase 1/2 studies for solid tumors, and bizaxofusp or MDNA55, a Phase 3-ready therapy for recurrent glioblastoma.

Financial Highlights

For the full year, Medicenna reported loss of C$18.4 million, or C$0.22 per share, compared with loss of C$11.8 million, or C$0.15 per share for the prior year.

The company attributed wider loss to higher R&D expenses, lower gains related to changes in fair value of warrant derivatives, reduced finance income, and lower foreign exchange gains.

As of the financial year ended, cash and cash equivalents totalled C$6.3 million.

Operational Highlights

The company said that proceeds from its recently completed public offering, together with expected proceeds from the proposed Sorbie financing and existing cash on hand, are anticipated to fund operations through the first quarter of 2027, subject to completion of the Sorbie transaction.

Milestones

In the second half of 2026, Medicenna expects to report updated clinical results from both the monotherapy and combination arms of the Phase 1/2 ABILITY-1 study, as well as from the Phase 1b NEO-CYT study of MDNA11.

The company also plans to finalize its Phase 2b development strategy for MDNA11 by the end of 2026, including strategies for evaluating MDNA11 in tumor types with accelerated approval potential.

Medicenna expects to file an Investigational New Drug or IND application for MDNA113 in the fourth quarter of 2026 and initiate a Phase 1 trial shortly thereafter.

The company is also pursuing partnership opportunities for its Phase 3-ready IL-4 Superkine program, bizaxofusp or MDNA55, for recurrent glioblastoma and plans to present new clinical data in the fourth quarter of 2026.

Medicenna is currently trading at $0.291, up 2.46% on the OTC Markets

For more such biotechstock news visit rttnews.com.