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Investing.com - H.C. Wainwright has reiterated its Buy rating and $2.50 price target on Medicenna Therapeutics (NASDAQ:MDNA) following the company’s first quarter fiscal 2026 financial report and corporate update released Friday. The target represents significant upside from the current price of $0.61, though InvestingPro data shows the stock trading near its Fair Value.
The research firm noted that Medicenna’s Phase 1/2 ABILITY-1 study evaluating its long-acting IL-2 agonist, MDNA11, remains on track to complete enrollment with top-line data expected by year-end 2025. With a market cap of $53.3 million and a current ratio of 4.94, the company maintains strong liquidity to support its clinical programs.
ABILITY-1 is designed to evaluate MDNA11 both as a monotherapy and in combination with pembrolizumab for treating solid tumors, with management planning to publish clinical data updates from both treatment approaches before year-end.
H.C. Wainwright expressed optimism about these forthcoming updates, citing positive data previously presented at the American Association of Cancer Research annual meeting in April 2025.
The company also plans to initiate a clinical program for MDNA113, a drug candidate from its BiSKIT platform, in 2026 after completing ongoing pre-clinical studies, contingent upon securing adequate funding.
In other recent news, Medicenna Therapeutics released its first quarter fiscal 2026 financial report and corporate update. The company announced that enrollment for its Phase 1/2 ABILITY-1 study, which evaluates the long-acting IL-2 agonist MDNA11, is progressing as planned. Top-line data from this study is anticipated by the end of 2025. In response to these developments, H.C. Wainwright has reiterated its Buy rating on Medicenna stock, maintaining a price target of $2.50. These updates provide investors with insights into the company’s ongoing clinical trials and analyst perspectives.
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