Medicenna Therapeutics (TSE:MDNA) Trading 17.8% Higher - Here's What Happened

Key Points

• Medicenna Therapeutics shares surged by 17.8% to C$1.19, trading volume increased by 719% compared to the average session.
• The company, with a market capitalization of C$89.03 million, specializes in immuno-oncology and is focused on developing treatments targeting the Interleukin-4 Receptor found in various cancers.
• Medicenna has negative earnings with a P/E ratio of -3.28, indicating challenges in profitability despite the recent stock price rise.

Medicenna Therapeutics Corp. (TSE:MDNA - Get Free Report) rose 17.8% during mid-day trading on Friday . The stock traded as high as C$1.19 and last traded at C$1.19. Approximately 379,355 shares were traded during trading, an increase of 719% from the average daily volume of 46,327 shares. The stock had previously closed at C$1.01.

Medicenna Therapeutics Trading Down 2.8%

The company has a fifty day simple moving average of C$0.89 and a 200-day simple moving average of C$1.01. The company has a current ratio of 11.40, a quick ratio of 4.65 and a debt-to-equity ratio of 0.88. The stock has a market cap of C$77.06 million, a price-to-earnings ratio of -2.84 and a beta of 1.21.

Medicenna Therapeutics Company Profile

Medicenna Therapeutics Corp is a Canada based immuno-oncology company. Its principal business activity is the development and commercialization of Empowered Cytokines and Superkines for the treatment of cancer. The company is engaged in developing Interleukin-4 Empowered Cytokines that specifically target the Interleukin-4 Receptor which is over-expressed by 20 different cancers, cancer stem cells and immunosuppressive cells of the tumor microenvironment.