Medicenna Therapeutics Reports First Quarter Fiscal 2026 Financial Results and Operational Highlights

Core Insights - Medicenna Therapeutics is encouraged by positive clinical results from the MDNA11 program, demonstrating best-in-class potential in treating checkpoint-resistant tumors [1][2] - The company is on track to complete enrollment in the Phase 1/2 ABILITY-1 trial and expects to provide top-line clinical data in the second half of 2025 [1][5] - Recent patent grants strengthen Medicenna's intellectual property position, with a total of 86 granted or allowed patents [6][7] Clinical Development - MDNA11 has shown durable efficacy with complete responses in pancreatic and melanoma cancer patients, remaining cancer-free for 18 and 6 months, respectively [1] - The company is advancing its MDNA113 candidate, a bispecific anti-PD1-IL2 Superkine, which has shown promising preclinical data [2][5] - Bizaxofusp, the IL-4 Superkine program, is seeking partnership opportunities for recurrent glioblastoma [4] Financial Overview - Medicenna reported cash and cash equivalents of $20.5 million as of June 30, 2025, providing a runway through mid-2026 [8] - Total operating costs for the quarter were $5.5 million, an increase from $4.0 million in the same quarter of the previous year, primarily due to higher R&D spending [9] - The net loss for the quarter was $4.9 million, compared to a net loss of $3.6 million in the prior year, attributed to increased R&D expenses and foreign exchange losses [10][11]