Medicenna Therapeutics Corp (NASDAQ:MDNA) is moving up slightly on Friday.
Market Action
As of 6:27, MDNA stock is up by 1.31% to trade at $3.87. So far more than 10K shares have exchanged hands, compared to its average volume of 153K shares. Over the past 52-week, the stock has been moving within a range of $3.1400 – 6.8400.
Medicenna Reports Fiscal Year 2021 Financial Results and Operational Highlights
- Net loss for the year ended March 31, 2021 was $17.3 million, or $0.35 per share, compared to a loss of $8.2 million, or $0.26 per share for the year ended March 31, 2020.
- Research and development expenses of $10.9 million were incurred during the year ended March 31, 2021, compared with $5.9 million incurred in the year ended March 31, 2020.
- General and administrative expenses of $6.5 million were incurred during the year ended March 31, 2021, compared with $2.4 million during the year ended March 31, 2020.
- Medicenna had cash, cash equivalents, and marketable securities of $40.4 million at March 31, 2021. These funds provide the Company with sufficient capital to execute its current planned expenditures through late 2022 based on its current plans and projections.
“The strong momentum we have generated over the past year leaves us poised to achieve key milestones that will lay a solid foundation for expansion of our clinical-stage pipeline,” said Fahar Merchant, PhD, President and CEO of Medicenna. “We have recently added significant talent, expertise, and depth to our management team through the appointments of industry veterans and immuno-oncology experts Kevin Moulder, PhD and Mann Muhsin, MD as our CSO and CMO, respectively.
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