Medicenna - President and CEO, Fahar Merchant.
President and CEO, Fahar Merchant.
Source: The International Cytokine and Interferon Society.
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  • Medicenna Therapeutics Corp. (MDNA) has closed its marketed offering of units for gross proceeds of approximately US$20 million
  • The company issued a total of 13,333,334 units at US$1.50 per unit
  • Net proceeds will be used primarily to fund the clinical development of MDNA11
  • Medicenna is a clinical-stage immunotherapy company focused on fine-tuning the immune system to combat the most challenging diseases
  • Medicenna Therapeutics (MDNA) is down 0.75 per cent on the day, trading at C$1.32 per share at 11:15 am ET

Medicenna Therapeutics Corp. (MDNA) has closed its previously announced marketed offering of units for gross proceeds of approximately US$20 million.

The company issued a total of 13,333,334 units at US$1.50 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share for 60 months.

Guggenheim Securities, LLC, acted as sole book-running manager, and Bloom Burton Securities Inc., as co-manager.

Net proceeds will be used primarily to fund the clinical development of MDNA11, the pre-clinical development of a BiSKIT candidate.

Medicenna is a clinical-stage immunotherapy company focused on fine-tuning the immune system to combat the most challenging diseases, including a broad range of cancers.

Medicenna Therapeutics (MDNA) is down 0.75 per cent on the day, trading at C$1.32 per share at 11:15 am ET.


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