Medicenna Therapeutics Reports Third Quarter Fiscal 2026 Financial Results and Provides a Corporate Update

Core Insights - Medicenna Therapeutics is advancing its clinical pipeline with promising data for MDNA11 and MDNA113, targeting various cancers and autoimmune diseases [2][3][21] Clinical Data and Trials - Updated clinical data from the ABILITY-1 trial shows MDNA11 achieving an objective response rate (ORR) of 36% in monotherapy and 43% when combined with pembrolizumab in patients treated as second or third-line therapy [4][5] - The ABILITY-1 study has expanded to include patients with non-small cell lung cancer (NSCLC) and secondary resistance to checkpoint therapy, addressing a significant unmet need in cancer treatment [4][6] - The NEO-CYT trial will evaluate MDNA11 in combination with nivolumab for high-risk melanoma, with patient enrollment expected to start in H1 2026 and interim data anticipated in H2 2026 [8][10] Product Development - MDNA113, a bifunctional anti-PD-1–IL-2 superkine, is progressing through IND-enabling studies, with plans to submit an IND in H2 2026 after demonstrating a favorable safety profile in non-human primates [3][14] - Bizaxofusp (formerly MDNA55) has shown a significant increase in median overall survival for recurrent glioblastoma patients, with a median overall survival of 13.6 months compared to the standard of care of 7 months [14] Financial Overview - As of December 31, 2025, Medicenna reported cash and cash equivalents of $10.6 million, expected to fund operations into Q3 2026 [16] - The company reported total operating costs of $5.6 million for the quarter, an increase from $5.1 million in the same period the previous year, primarily due to higher R&D expenditures [17][19] - The net loss for the quarter was $4.4 million, a decrease from $5.2 million in the prior year, attributed to an increase in the gain on the fair value of derivative warrant liability [18]