Medicenna Therapeutics (MDNA) Q3 2026 earnings summary

Executive summary

• Reported updated clinical data for MDNA11 and bizaxofusp, with strong efficacy in multiple solid tumors and recurrent glioblastoma, respectively.

• Advanced MDNA113 through preclinical studies, targeting a first-in-human trial in H2 2026.

• Announced changes to the Board of Directors, with two new appointments following a retirement.

Financial highlights

• Ended the quarter with $10.6 million in cash and cash equivalents, expected to fund operations into Q3 2026.

• Operating costs for the quarter were $5.6 million, up from $5.1 million year-over-year, mainly due to increased R&D expenses.

• Net loss for the quarter was $4.4 million ($0.05 per share), an improvement from $5.2 million ($0.07 per share) in the prior year, driven by a gain on derivative warrant liability.

• R&D expenses rose to $4.1 million from $3.6 million year-over-year, reflecting expanded clinical activities.

• G&A expenses remained stable at $1.5 million year-over-year.

Outlook and guidance

• Cash runway projected into Q3 2026 based on current operating plan.

• Plans to file an IND for MDNA113 and arrange an End of Phase 1 meeting with the FDA for MDNA11 in 2026.

• Interim data from the NEO-CYT trial and updated ABILITY-1 results expected in H2 2026.