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, aiming for significant milestones in 2026 [2][3] Clinical Data and Trials - The ABILITY-1 trial for MDNA11 shows an objective response rate (ORR) of 36% in monotherapy and 43% when combined with pembrolizumab, with a disease control rate (DCR) of 86% and 72% respectively [3][4] - A new expansion cohort in the ABILITY-1 study will treat patients with non-small cell lung cancer (NSCLC) and secondary resistance to checkpoint therapy [3][5] - The NEO-CYT trial will evaluate MDNA11 in combination with nivolumab for melanoma, with patient enrollment expected to start in H1 2026 and interim data anticipated in H2 2026 [7][9] 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 [2][12] - Bizaxofusp (formerly MDNA55) has shown a median overall survival (mOS) of 13.6 months in a Phase 2b trial for recurrent glioblastoma, compared to the standard mOS of 7 months [12] Financial Overview - As of December 31, 2025, Medicenna reported cash and cash equivalents of $10.6 million, expected to fund operations into Q3 2026 [14] - 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 [15][17] - The net loss for the quarter was $4.4 million, a decrease from $5.2 million in the prior year, attributed to a gain on the fair value of derivative warrant liability [16]