Medicenna Spikes on U.S. Non-Dilutive Grant

Medicenna Spikes on U.S. Non-Dilutive Grant

By: Tomas Ronolski - News

Tuesday, July 9, 2019

New developments in the medical field, as Toronto-based Medicenna Therapeutics Corp. (TSX-Venture:MDNA), which also has offices in Houston, received about $1.9 million U.S. (approximately $2.5 million Canadian) from the Cancer Prevention and Research Institute of Texas.

The payment is part of a total non-dilutive grant of up to $14.1 million U.S., which is repayable out of potential future revenues associated with commercial sale of products developed with the grant proceeds.

Of those funds, just over $1 million U.S. represents a reimbursement for eligible expenditures previously incurred by Medicenna and $841,867 U.S. represents an advance for expenditures to be incurred in 2019 related to the MDNA55 Phase 2b clinical trial for the treatment of recurrent glioblastoma, the most common and uniformly fatal form of brain cancer.

Shares in MDNA gained six cents, or 4.2%, to $1.50, on volume of 37,000 shares. 

Copyright © 2019 All rights reserved. Republication or redistribution of's content is expressly prohibited without the prior written consent of shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon

Other Penny Stock Movers

Massive Uptrend Looks Likely To Continue For This Tech Based Healthcare Stock
SRAX Lifted by Cooperative Agreement With Cint
Khiron Hails Brazilian Legalization of Cananbis
Junior Miner Pops on Review of B.C. Property

Back to Top