Medicenna's Dec. 31 cash at $10.6 million

Executive Summary

• Medicenna Therapeutics reported Q3 FY 2026 financial results with cash of $10.6 M and a reduced net loss of $4.4 M (‑$0.05 per share) versus $5.2 M a year earlier.
• Clinical updates: MDNA11 showed ORR 36% (monotherapy) and 43% (with pembrolizumab) in the Ability‑1 expansion cohort (N=14); bizaxofusp phase 2b trial doubled median OS to 13.6 months in rGBM high‑dose arm.
• Board changes announced: Richard Sutin and Angelos Georgakis appointed; longtime director Karen Dawes retired.

Key Details

• Cash Position: $10.6 million of cash & cash equivalents at quarter end, projected to fund operations into Q3 2026.
• Operating Costs: $5.6 M (up from $5.1 M YoY), driven by a $0.5 M increase in R&D for MDNA11 trial expansion.
• Net Loss: $4.4 M, or $0.05 per share, improved from $5.2 M ($0.07 per share) YoY.
• R&D Expenses: $4.1 M (up from $3.6 M YoY); higher clinical trial costs for MDNA11 Ability‑1 expansion and initiation of NEO‑CYT trial.
• G&A Expenses: $1.5 M, unchanged YoY.
• MDNA11 Clinical Data (Ability‑1 Expansion):
• Monotherapy ORR = 36%; DCR = 86% (N=14).
• Combination with pembrolizumab ORR = 43%; DCR = 72% (N=14).
• Ability‑1 Enrollment: Expansion cohort enrollment completed; additional tumor types added (NSCLC, colorectal) and results expected H2 2026.
• NEO‑CYT Trial: Multi‑center neoadjuvant study in Stage III melanoma (MDNA11 + nivolumab ± ipilimumab); interim data anticipated H2 2026.
• MDNA113: Preclinical program advancing; non‑human primate safety at 30 mg/kg supports planned first‑in‑human trial in H2 2026.
• Bizaxofusp (formerly MDNA55): Phase 2b rGBM trial (N=44) showed median OS of 13.6 months vs. 7 months standard care; data to be presented at Glioblastoma Development Summit, Boston, Feb 17‑19 2026.
• Board Appointments: Richard Sutin and Angelos Georgakis appointed to the board; Karen Dawes retired after serving since 2019 (former Compensation Committee Chair).

Notable Quotes

“We delivered strong clinical results in 2025 with our Ability‑1 trial and 2026 is shaping up to be a milestone‑rich year across our pipeline,” – Dr. Fahar Merchant, President & CEO.

All forward‑looking statements are subject to risks and uncertainties; actual results may differ.