Medicenna Therapeutics reports Q1 EPS (4c), consensus (5c)

“We are pleased with our start to fiscal 2024 and remain on track to share data readouts for cohorts five and six in addition to updates in lower dose cohorts. We believe that the clearance by the Safety Review Committee of the 120microgram/Kg dose administered every 2 weeks, continues to demonstrate the acceptable tolerability profile of MDNA11. Accordingly, we expect to announce, on August 9th, the Recommended Dose for Expansion, as well as the indications we plan to pursue in the monotherapy expansion cohort of the Phase 2 ABILITY study following data review by the independent clinical and safety advisors of the Company,” commented Fahar Merchant, Ph.D., President and CEO of Medicenna. “We are encouraged by the safety profile of MDNA11 to date in addition to the prolonged and persistent single-agent activity in heavily pre-treated, end-stage cancer patients, even though the purpose of the Phase 1 ABILITY study was to evaluate the safety of MDNA11. We look forward to evaluating MDNA11 in a Phase 2 patient population in which the patients are less heavily treated in clinically relevant tumor types and may therefore be more likely to respond to immunotherapy treatments such as MDNA11.”