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On September 21, 2022, Medicenna Therapeutics Corp. (NASDAQ: MDNA) held its annual shareholder meeting, announcing that all management nominees for the Board of Directors were elected with over 97% of votes in favor. Notable nominees include Dr. Fahar Merchant and Mr. Albert Beraldo. The meeting also confirmed PricewaterhouseCoopers LLP as the Company's auditor. A total of 57.468% of common shares were represented in the vote, reflecting strong shareholder engagement.
Medicenna Therapeutics Corp. (NASDAQ: MDNA; TSX: MDNA) has partnered with Merck to explore the combination of MDNA11, a long-acting IL-2 Superkine, with Merck’s KEYTRUDA for treating advanced solid tumors. This collaboration involves the ABILITY Study which will assess the safety and efficacy of MDNA11 alone and alongside KEYTRUDA. Medicenna will sponsor the study while Merck provides the drug. CEO Fahar Merchant emphasized the potential of this collaboration to enhance therapeutic outcomes.
Medicenna Therapeutics Corp. (NASDAQ: MDNA, TSX: MDNA) will present at several conferences in September 2022. At the H.C. Wainwright 24th Annual Global Investment Conference, an on-demand corporate presentation will be available on September 12. Medicenna will also feature an oral presentation on IL-2 programs at The Promise of Interlukin-2 Therapy Conference in Paris on September 17. Additionally, findings from its preclinical Superkine programs will be presented at the Cytokines 2022 meeting in Hawaii from September 20-23. Poster presentations will occur on September 20.
Medicenna Therapeutics reported a solid start to fiscal 2023, bolstered by a US$20 million raise extending its cash runway into 2024. The ABILITY study of MDNA11 shows tumor control in 4 of 10 patients with advanced solid tumors, including an unconfirmed partial response in a pancreatic cancer patient. The company has no reported dose-limiting toxicities and is progressing into the fifth cohort of the clinical trial. Financially, a net loss of CAD 4.2 million was noted, a decrease from CAD 6.4 million in 2021. The results reflect reduced R&D spending as the company advances its innovative pipeline.
Medicenna Therapeutics Corp. (NASDAQ: MDNA, TSX: MDNA) has successfully closed its marketed underwritten public offering of units at a price of US$1.50 per unit, raising approximately US$20 million in gross proceeds. A total of 13,333,334 units were issued, each comprising one common share and one warrant, which allows purchase of additional shares at US$1.85 over the next 60 months. The funds will primarily support the clinical development of MDNA11 and general corporate purposes. The offering was conducted under an underwriting agreement with Guggenheim Securities and Bloom Burton Securities.
Medicenna Therapeutics Corp. (NASDAQ: MDNA) announced a priced public offering of 13,333,334 units at $1.50 each, aiming to raise approximately $20 million. Each unit consists of one common share and one warrant, allowing purchase of an additional share at $1.85 within five years. The offering is set to close around August 11, 2022, pending customary conditions. Proceeds will primarily fund clinical development of MDNA11 and preclinical efforts for a BiSKIT candidate.
Medicenna Therapeutics Corp. (Nasdaq: MDNA, TSX: MDNA) announced a marketed underwritten public offering of units, each consisting of one common share and one warrant. The offering's pricing will be determined in the market context, and completion is not guaranteed. Funds raised will primarily support the clinical development of MDNA11 and a BiSKIT candidate. Guggenheim Securities is the sole book-running manager for the offering. A preliminary prospectus supplement has been filed, with the final documents outlining the offering details to be available shortly.
Medicenna Therapeutics Corp. (NASDAQ: MDNA, TSX: MDNA) announced a conference call on August 15, 2022, at 8:30 AM ET to present its Q1 fiscal 2023 financial results and operational highlights. Investors can join the call by dialing 1-877-407-9716 (Canada/US) or 1-201-493-6779 (international) with conference ID 13731985. A live webcast will also be available on their website, along with an archived version post-event. Medicenna focuses on developing innovative immunotherapy treatments, specifically Superkines targeting IL-2, IL-4, and IL-13.
Medicenna Therapeutics announced promising results from the Phase 1/2 ABILITY study of its IL-2 super agonist, MDNA11. Tumor control was achieved in 40% of evaluable patients, including those with hard-to-treat cancers like sarcomas and pancreatic cancer. The study's fifth dose-escalation cohort is now enrolling after a favorable safety review. Notably, treatment did not result in dose-limiting toxicities. The data will be presented at the Cytokine Based Drug Development Summit, further supporting MDNA11’s potential as a leading IL-2 therapeutic.
Medicenna Therapeutics Corp. (NASDAQ: MDNA) reported its financial results for the fiscal year ending March 31, 2022, highlighting significant clinical progress with its MDNA11 program, where tumor control was observed in 3 of 8 patients in early dosing cohorts. The company extended its cash runway into Q2 2023, holding $20.5 million in cash and equivalents. Despite a net loss of $22.6 million due to increased R&D expenditures, management remains optimistic about upcoming milestones, including initial clinical data expected in mid-2022.
