Wednesday, January 19, 2022

Medicenna Therapeutics Inc. (MDNA) stock fell during after-hours. Here’s what’s happening?

Medicenna Therapeutics Inc. (NASDAQ: MDNA) stock gained by 6.21% at last close whereas the MDNA stock price drops by 11.11% in the after-hours trading session. Medicenna is a clinical-stage immunotherapy firm dedicated to the development of innovative, extremely selective IL-2, IL-4, and IL-13 Superkines, as well as first-in-class, Empowered Superkines.


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MDNA stock’ Current Update

Health Canada has authorized the expansion of the Phase 1/2 ABILITY (A Beta-only IL-2 Immunotherapy) study of MDNA11 to clinical trial locations in Canada, according to Medicenna Therapeutics Corp.


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The ABILITY Study is actively recruiting patients in Australia and has just acquired FDA approval to extend to clinical trial locations in the United States. By the end of the year, a preliminary report on safety and pharmacokinetic/pharmacodynamic (PK/PD) results from early cohorts of patients recruited in the ABILITY Study’s dosage escalation phase is predicted. The trial’s further safety, PK/PD, biomarker, and preliminary effectiveness findings are anticipated in mid-2022.

Details of the study

The ABILITY Study aims to evaluate the safety, PK, PD, and anti-tumor efficacy of different intravenous dosages of MDNA11 in people with advanced, relapsed, or refractory solid cancers. The study comprises of MDNA11 monotherapy arm along with a combination arm aimed to assess MDNA11 in conjunction with a checkpoint inhibitor.

After the development of the recommended Phase 2 dosage (RP2D) and appropriate treatment schedule during the dose-escalation phase of the trial, The ABILITY Study is intended to register around 80 individuals.  Medicenna intends to conduct a dose-expansion phase in which patients with renal cell carcinoma, melanoma, and other solid tumors will be enrolled in monotherapy and combination settings.

Moreover,

Medicenna expects that enrolment in the ABILITY Study in the United States, Canada, and Australia will be adequate to satisfy the trial’s goals and deadlines. If necessary, the Company may seek to expand the study into the United Kingdom.

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