OTC Markets Group Welcomes Medicenna Therapeutics Corp. to OTCQX
Rhea-AI Summary
OTC Markets Group has announced that Medicenna Therapeutics Corp. has qualified to trade on the OTCQX Best Market. Previously trading on the OTCQB Venture Market, Medicenna will now trade under the symbol MDNAF. This upgrade signifies Medicenna's adherence to high financial standards, corporate governance best practices, and compliance with securities laws. The move aims to enhance visibility among U.S. investors, improve liquidity, and broaden stock access. CEO Fahar Merchant highlighted the importance of this milestone in strengthening their capital markets strategy.
Positive
- Medicenna Therapeutics Corp. upgraded to OTCQX Best Market.
- Trading under the symbol MDNAF on OTCQX.
- Enhanced visibility among U.S. investors.
- Improved liquidity for Medicenna's stock.
- Broadened access to stock for U.S. and international investors.
Negative
- None.
NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Medicenna Therapeutics Corp. (TSX: MDNA; OTCQX: MDNAF), a clinical-stage immunotherapy company, has qualified to trade on the OTCQX® Best Market. Medicenna Therapeutics Corp. upgraded to OTCQX from the OTCQB® Venture Market.
Medicenna Therapeutics Corp. begins trading today on OTCQX under the symbol “MDNAF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.
“We are thrilled to be moving up to the OTCQX Best Market,” said Fahar Merchant, Ph.D., President and CEO of Medicenna. “This step strengthens our capital markets strategy by highlighting our dedication to transparency, improving liquidity, and broadening access to our stock for both U.S. and international investors.”
About Medicenna Therapeutics Corp.
Medicenna is a clinical-stage immunotherapy company focused on developing novel, highly selective versions of IL-2, IL-4 and IL-13 Superkines and first-in-class Empowered Superkines. Medicenna’s long-acting IL-2 Superkine, MDNA11, is a next-generation IL-2 with superior affinity toward CD122 (IL-2 receptor beta) and no CD25 (IL-2 receptor alpha) binding, thereby preferentially stimulating cancer-killing effector T cells and NK cells. Medicenna’s IL-4 Empowered Superkine, bizaxofusp (formerly MDNA55), has been studied in 5 clinical trials enrolling over 130 patients, including a Phase 2b trial for recurrent GBM, the most common and uniformly fatal form of brain cancer. Bizaxofusp has obtained FastTrack and Orphan Drug status from the FDA and FDA/EMA, respectively. Medicenna’s early-stage high-affinity IL-2β biased IL-2/IL-15 Super-antagonists, from its MDNA209 platform, are being evaluated as potential therapies for autoimmune and graft-versus host diseases. Medicenna’s early-stage BiSKITs™ (Bifunctional SuperKine ImmunoTherapies) and the T-MASK™ (Targeted Metalloprotease Activated SuperKine) programs are designed to enhance the ability of Superkines to treat immunologically “cold” tumors.
For more information, please visit www.medicenna.com, and follow us on Twitter and LinkedIn.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com
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