Medicenna Therapeutics (MDNA) Q1 2027 earnings summary

Executive summary

• Presented updated clinical results for MDNA11 and bizaxofusp at major medical conferences, highlighting progress in immunotherapy pipeline.

• Enrollment in the Phase 1/2 ABILITY-1 study for MDNA11 remains on track for completion in Q3 2026, with plans to discuss expedited regulatory pathways.

• Continued advancement of MDNA113, with IND submission and Phase 1 trial planned for 2027.

Financial highlights

• Ended Q1 2027 with $5.7 million in cash and cash equivalents, down from $6.3 million at March 31, 2026.

• Received $4.4 million in gross proceeds from a public offering during the quarter and $1.3 million from the Australian R&D incentive program after quarter end.

• Total operating costs were $5.4 million, compared to $5.5 million in Q1 2026.

• Net loss was $5.1 million ($0.06 per share), slightly higher than $4.9 million ($0.06 per share) in Q1 2026.

• Research and development expenses were $4.3 million, and general and administrative expenses were $1.2 million.

Outlook and guidance

• Proceeds from recent financings and cash on hand are expected to fund planned expenditures into Q2 2027.

• Preliminary clinical data from the NEO-CYT study expected in Q4 2026.

• IND submission and first-in-human study for MDNA113 planned for 2027.