Medicenna Maps 2026 Milestones as IL-2 Superkine MDNA11 Delivers Promising Cancer Responses

Medicenna Therapeutics Corp ( (TSE:MDNA) ) has shared an announcement.

Medicenna reported updated clinical data for its lead IL-2 super agonist MDNA11 from the ongoing Phase 1/2 ABILITY-1 trial, showing encouraging objective response rates in heavily pretreated cancer patients, particularly in the second- and third-line setting and following failure of immune checkpoint inhibitors. Based on these results, the company plans to complete ABILITY-1 enrollment and prepare a registrational trial in second-/third-line melanoma and other selected tumors post-checkpoint failure, while also supporting the NEO-CYT investigator-sponsored study that will test MDNA11 as front-line therapy in resectable advanced cutaneous melanoma starting in the first half of 2026. Medicenna also highlighted preclinical safety data for MDNA113, a conditionally activated bifunctional anti-PD-1–IL-2 superkine that could allow dosing comparable to current anti-PD-1 drugs, with an investigational new drug filing and first-in-human trial targeted for the second half of 2026. The company intends to showcase additional data on its bizaxofusp program at an upcoming glioblastoma conference and stated that its cash runway now extends into the third quarter of 2026, supporting continued advancement of its superkine platform and reinforcing its bid to establish a leadership position in next-generation immunotherapies for difficult-to-treat cancers.

The most recent analyst rating on (TSE:MDNA) stock is a Hold with a C$0.91 price target. To see the full list of analyst forecasts on Medicenna Therapeutics Corp stock, see the TSE:MDNA Stock Forecast page.

Spark’s Take on TSE:MDNA Stock

According to Spark, TipRanks’ AI Analyst, TSE:MDNA is a Neutral.

The score is held down primarily by weak financial performance (pre-revenue, ongoing losses, and significant cash burn) and bearish technicals (below major moving averages with negative momentum). Positive clinical and development-related corporate updates provide some offset, but valuation support is limited given negative earnings and no dividend.

To see Spark’s full report on TSE:MDNA stock, click here.

More about Medicenna Therapeutics Corp

Medicenna Therapeutics Corp. is a Toronto- and Houston-based clinical-stage immunotherapy company developing engineered cytokine “Superkines” targeting cancer and autoimmune diseases. Its pipeline includes IL-2–based super-agonists and bifunctional molecules designed to enhance anti-tumor immune responses, with a focus on patients with advanced or “cold” tumors that are resistant to current checkpoint inhibitor therapies.

Average Trading Volume: 139,849

Technical Sentiment Signal: Sell

Current Market Cap: C$64.6M

For detailed information about MDNA stock, go to TipRanks’ Stock Analysis page.