Medicenna Announces Results of Annual General and Special Meeting of Shareholders
The board can choose whether to proceed and set the consolidation ratio within the shareholder-approved range.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Medicenna Therapeutics (MDNAF) shareholders authorized a potential share consolidation at the annual general and special meeting held October 1, 2026. The board may choose a ratio of one post-consolidation share for every 2 to 20 pre-consolidation shares, or decide not to proceed. Any implementation requires regulatory approvals; the ratio and effective date would be announced once the board decides to proceed.
The company said consolidation could support minimum bid-price compliance for a potential major U.S. exchange listing and attract investors with minimum share-price requirements. A listing would still require satisfaction of all applicable requirements and exchange approval. Shareholders also elected all four director nominees, each with more than 97% support, and reappointed MNP as auditor. 31.82% of outstanding common shares were represented at the meeting.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- None.
Negative
- Moderate point. Forward-looking: it has not happened yet and may not happen.Authorized one-for-2 to one-for-20 consolidation could support U.S. listing minimum bid-price compliance, if implemented.
- Minor pointConsolidation implementation remains subject to required regulatory approvals.
- Minor point. Forward-looking: it has not happened yet and may not happen.Any U.S. exchange listing requires all applicable listing requirements and exchange approval; consolidation offers no guarantee.
AI-generated analysis. How Rhea-AI works. Not financial advice.
TORONTO and HOUSTON, Oct. 01, 2026 (GLOBE NEWSWIRE) -- Medicenna Therapeutics Corp. (“Medicenna” or the “Company”) (TSX: MDNA, OTCQB: MDNAF), a clinical-stage immunotherapy company developing Superkines for targeting cancer and autoimmune diseases, today announced the voting results from the Company’s annual general and special meeting of shareholders held today, October 1, 2026 (the “Meeting”).
Medicenna is pleased to announce that all of the nominees listed in its management information circular dated August 19, 2026 (the “Circular”), were elected as directors. Each director was elected with greater than
| Nominee | Votes For | % of Votes For | Votes Against | % of Votes Against |
| Mr. Albert Beraldo | 27,751,517 | 736,191 | ||
| Mr. Richard Sutin | 27,779,927 | 707,781 | ||
| Mr. Angelos Georgakis | 27,779,495 | 708,213 | ||
| Dr. Fahar Merchant | 27,715,844 | 771,864 |
Medicenna shareholders also approved the re-appointment of MNP LLP as auditor of the Company.
Finally, the shareholders approved the special resolution authorizing the consolidation of the Company’s issued and outstanding common shares (the “Share Consolidation”) at a ratio to be determined by the Company’s board of directors (the “Board”), within the range of one post-consolidation share for every 2 to 20 pre-consolidation shares and subject to the Board’s authority to decide not to proceed with the Share Consolidation. The Share Consolidation may be undertaken as part of Medicenna’s evaluation of available strategic opportunities, including, if appropriate, to support compliance with the listing requirements of a major U.S. stock exchange.
If implemented, the Share Consolidation could, among other things, increase the trading price per common share and support compliance with a major U.S. stock exchange’s minimum bid price requirements, if determined to be desired, and potentially enhance the Company’s ability to attract U.S. institutional investors and other investors subject to minimum share-price requirements.
If and when the Board determines to proceed with the Share Consolidation, the Company will announce the applicable consolidation ratio and effective date, subject to receipt of all required regulatory approvals.
To the extent Medicenna pursues a U.S. stock exchange listing for its common shares, the Share Consolidation is not a guarantee that Medicenna will satisfy all major U.S. stock exchange listing requirements or that its common shares will be accepted for listing. Any major U.S. stock exchange listing remains subject to the Company satisfying all applicable listing requirements and receiving approval from the major U.S. stock exchange.
A total of
Please refer to the Circular available on SEDAR+ at www.sedarplus.ca for more information on the business transacted at the Meeting. A report on voting results will also be filed on SEDAR+.
About Medicenna Therapeutics
Medicenna is a clinical-stage immunotherapy company developing engineered cytokine therapies designed to selectively engage the immune system to treat cancer. The Company’s most advanced program, bizaxofusp (formerly MDNA55), is a targeted IL-4 Empowered Superkine that has been evaluated in more than 130 patients across five clinical trials, including a Phase 2b study in recurrent glioblastoma. Bizaxofusp has received Fast Track designation from the FDA and Orphan Drug designation in the United States and Europe. Medicenna is also advancing MDNA11, a long-acting IL-2 Superkine designed to selectively activate cancer-fighting immune cells, which is currently being evaluated in the Phase 1/2 ABILITY-1 study and the Phase 1b NEO-CYT study. The Company is also developing MDNA113, a targeted PD-1 x IL-2 bifunctional immunotherapy for solid tumors, and MDNA209, an antagonist of CD122 blocking IL-2/IL-15 signaling, using its proprietary BiSKIT and T-MASK platforms.
For more information, please visit www.medicenna.com, and follow us on X and LinkedIn.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, express or implied statements regarding the Share Consolidation, the possibility of the Company pursuing a U.S. stock exchange listing for its common shares, the future operations of the Company, estimates, plans, strategic ambitions, partnership activities and opportunities, objectives, expectations, opinions, forecasts, projections, guidance, outlook or other statements that are not historical facts.
Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expect”, “believe”, “seek”, “potentially” and similar expressions. and are subject to risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the risks detailed in the latest annual information form of the Company and in other filings made by the Company with the applicable securities regulators from time to time in Canada.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date hereof and except as required by law, we do not intend and do not assume any obligation to update or revise publicly any of the included forward-looking statements.
This news release contains hyperlinks to information that is not deemed to be incorporated by reference in this new release.
Investor/Company Contact
Daniel Scarr
Director, Corporate Development
Medicenna Therapeutics
ir@medicenna.com
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