Canada's Medicenna narrows Q3 net loss, highlights MDNA11 efficacy

Overview

• Canada immunotherapy firm's fiscal Q3 net loss narrows yr/yr

• Company expects cash to fund operations into Q3 2026

• MDNA11 shows strong anti-tumor activity in clinical trials

Outlook

• Medicenna expects cash reserves to fund operations into Q3 2026

• Company plans to file IND for MDNA113 in H2 2026

• Medicenna anticipates sharing ABILITY-1 study results in H2 2026

Result Drivers

• MDNA11 EFFICACY - MDNA11 demonstrated strong anti-tumor activity in clinical trials, achieving an ORR of 36% as monotherapy and 43% when combined with pembrolizumab

• R&D - Expenses were C$4.1 million for the quarter, compared to C$3.6 million for the same period in 2024, driven by higher clinical costs associated with the expansion of the MDNA11 ABILITY-1

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Press Release: ID:nGNX3vs62m

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.