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Investing.com - H.C. Wainwright has reiterated its Buy rating and $2.50 price target on Medicenna Therapeutics (NASDAQ:MDNA), a $53 million market cap biotech company currently trading at $0.61. According to InvestingPro data, analysts maintain a Strong Buy consensus with price targets ranging from $2.72 to $3.63.
The clinical-stage immunotherapy company reported that enrollment for its Phase 1/2 ABILITY-1 study evaluating MDNA11, a long-acting IL-2 agonist, remains on track with top-line data expected by year-end 2025. While the company maintains a strong current ratio of 4.94x, InvestingPro analysis indicates rapid cash burn requires attention.
ABILITY-1 is designed to assess MDNA11 both as a monotherapy and in combination with pembrolizumab for treating solid tumors, with management planning to release clinical data updates from both treatment cohorts in one or possibly two disclosures before the end of the year.
The research firm expressed optimism about these forthcoming updates, citing positive data previously presented at the American Association of Cancer Research annual meeting in April 2025.
Medicenna 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. The company’s financial position shows more cash than debt, though InvestingPro subscribers can access 5 additional key financial tips and detailed metrics to better assess the investment opportunity.
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