Canada's Medicenna Q1 net loss slightly widens on smaller fair value gain

Medicenna Therapeutics

14/08/2026 12:14

Overview
Canada immunotherapy developer reported Q1 net loss of C$5.1 mln, operating costs stable yr/yr
Company advanced ABILITY-1 and NEO-CYT clinical studies, with new data to be presented at conferences
Company received C$4.4 mln from public offering, C$1.3 mln from Australian R&D incentive, and is pursuing additional financing

Outlook
Medicenna expects to complete ABILITY-1 study enrolment in Q3 2026
Company plans to present updated MDNA11 and bizaxofusp clinical data at upcoming conferences
Preliminary NEO-CYT study data expected in Q4 2026; Phase 1 trial of MDNA113 planned for 2027

Result Drivers
CLINICAL TRIAL PROGRESS - Co said enrolment in ABILITY-1 and NEO-CYT studies remained on track, with updated data to be presented at upcoming conferences
STABLE OPERATING COSTS - Co reported operating costs and R&D expenses were relatively unchanged yr/yr, reflecting similar activity levels
SLIGHTLY HIGHER NET LOSS - Co attributed the increase in net loss mainly to lower finance income and a smaller fair value gain on derivative warrant liability, partly offset by reduced foreign exchange losses

Company press release: ID:nGNX59d3yW

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Loss Per Share
 
C$0.06
 
Q1 Net Loss
 
C$5.10 mln
 

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"
Wall Street's median 12-month price target for Medicenna Therapeutics Corp is C$3.25, about 712.5% above its August 13 closing price of C$0.40

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)