Medicenna Targets Pivotal 2026 as IL-2 Superkine Programs Advance Toward Registrational Trials

Medicenna Therapeutics Corp ( (TSE:MDNA) ) just unveiled an announcement.

Medicenna Therapeutics outlined a potentially pivotal 2026 as it advances its Superkine immunotherapy pipeline, led by IL-2 super agonist MDNA11 and conditionally activated bifunctional anti-PD1–IL-2 candidate MDNA113. Updated data from the Phase 1/2 ABILITY-1 trial show strong monotherapy activity for MDNA11 in heavily pretreated patients, with overall response rates of 50% in second- and third-line (2L/3L) settings and 42% when used immediately after checkpoint inhibitor failure in select expansion cohorts, and meaningful response rates across 18 cancer types; similar efficacy trends were observed in combination with pembrolizumab. On the back of these results, the company plans to complete ABILITY-1 enrollment and prepare a registrational trial in 2L/3L melanoma and other tumors post-ICI failure, while an externally sponsored NEO-CYT study will move MDNA11 into front-line therapy for resectable advanced cutaneous melanoma starting in the first half of 2026. Meanwhile, preclinical data for MDNA113 in non-human primates support dosing comparable to approved anti-PD-1 therapies, with an IND filing and first-in-human trial targeted for the second half of 2026, bolstering Medicenna’s strategy to position its IL-2-based platform as best-in-class in a competitive immuno-oncology landscape. The company also plans multiple bizaxofusp data presentations at a major glioblastoma meeting and reports a cash runway extending into the third quarter of 2026, providing financial visibility to support these clinical milestones.

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 clinical-stage immunotherapy company listed on the TSX and OTCQX that develops ‘Superkine’ biologics targeting cancer and autoimmune diseases. Its pipeline focuses on engineered IL-2 and related cytokine-based therapies, including MDNA11 and the bifunctional MDNA113, aiming to improve outcomes in patients with advanced or treatment-resistant tumors, particularly so-called ‘cold’ tumors that respond poorly to existing immunotherapies.

Average Trading Volume: 139,849

Technical Sentiment Signal: Sell

Current Market Cap: C$64.6M

Find detailed analytics on MDNA stock on TipRanks’ Stock Analysis page.