TORONTO and HOUSTON - Medicenna Therapeutics Corp. (TSX: MDNA, OTCQX: MDNAF), a clinical-stage immunotherapy company, today announced that it will present updated clinical data from its ongoing Phase 1/2 ABILITY-1 study at the upcoming Immunotherapy Bridge Conference. The presentation, scheduled for Thursday, December 5, 2024, will focus on MDNA11, the company's long-acting 'beta-enhanced not-alpha' interleukin-2 (IL-2) super-agonist, which is being tested in patients with advanced or metastatic solid tumors.
MDNA11 is designed to preferentially activate immune effector cells, such as CD8+ T and NK cells, which are responsible for killing cancer cells, while minimally or not stimulating immunosuppressive Tregs. This is achieved through seven specific mutations and a fusion to a recombinant human albumin scaffold, which enhances the pharmacokinetic profile and pharmacological activity of MDNA11.
The ABILITY-1 study (NCT05086692) is a global, multi-center, open-label study assessing the safety, tolerability, pharmacokinetics, pharmacodynamics, and anti-tumor activity of MDNA11 as monotherapy or in combination with pembrolizumab. Approximately 20 patients with a range of solid tumors are expected to be enrolled in the combination dose escalation portion of the Phase 2 study.
Medicenna's portfolio also includes other IL-2, IL-4, and IL-13 Superkines and first-in-class Empowered Superkines. Its IL-4 Empowered Superkine, bizaxofusp, has been studied in over 130 patients across five clinical trials, including a Phase 2b trial for recurrent GBM, the most common and fatal form of brain cancer.
The company cautions that drug development is highly risky and that early-stage study results may not be indicative of full results from later stage or larger scale clinical studies, nor do they ensure regulatory approval. The forward-looking statements in the press release are based on the company's expectations and are subject to risks and uncertainties.
The presentation details will be available on Medicenna's website after the conference. This article is based on a press release statement from Medicenna Therapeutics Corp.
InvestingPro Insights
As Medicenna Therapeutics Corp. (OTCQX: MDNAF) prepares to present updated clinical data from its ABILITY-1 study, investors might benefit from a closer look at the company's financial health and market performance.
According to InvestingPro data, Medicenna's market capitalization stands at $98.36 million USD, reflecting its status as a clinical-stage biotech company. The company's stock has shown remarkable volatility, with a significant 310.1% year-to-date price return as of the latest data. This aligns with the nature of clinical-stage biotech stocks, which can experience substantial price movements based on trial results and regulatory developments.
However, it's important to note that Medicenna is not currently profitable, with an adjusted operating income of -$13.57 million USD over the last twelve months. This is not unusual for companies in the early stages of drug development, as they often incur substantial research and development costs before generating revenue from approved products.
InvestingPro Tips highlight that Medicenna holds more cash than debt on its balance sheet, which is crucial for a company in the capital-intensive biotech sector. This financial cushion could provide the necessary runway for the company to advance its clinical programs, including the MDNA11 study presented in the article.
Another InvestingPro Tip indicates that analysts do not anticipate the company will be profitable this year. This aligns with the company's current focus on clinical development rather than commercialization.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics that could provide deeper insights into Medicenna's financial position and market potential. There are 11 additional InvestingPro Tips available for MDNAF, which could be valuable for those looking to make informed investment decisions in the volatile biotech sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.