Medicenna Therapeutics (TSE:MDNA) Stock Price Up 6.9% - Here's Why

Key Points

• Medicenna Therapeutics' share price increased by 6.9% on Friday, closing at C$1.08 after reaching an intraday high of C$1.08, with trading volume surging by 255% compared to its average volume.
• The company has a market capitalization of C$83.04 million and a negative PE ratio of -3.06, indicating financial challenges in profitability.
• Medicenna focuses on developing immuno-oncology therapies, particularly Interleukin-4 Empowered Cytokines, targeting cancers with over-expressed Interleukin-4 Receptors.

Medicenna Therapeutics Corp. (TSE:MDNA - Get Free Report)'s stock price rose 6.9% during mid-day trading on Friday . The stock traded as high as C$1.08 and last traded at C$1.08. Approximately 159,486 shares changed hands during mid-day trading, an increase of 255% from the average daily volume of 44,869 shares. The stock had previously closed at C$1.01.

Medicenna Therapeutics Stock Up 17.8%

The company has a quick ratio of 4.65, a current ratio of 11.40 and a debt-to-equity ratio of 0.88. The firm has a 50 day simple moving average of C$0.88 and a 200-day simple moving average of C$1.02. The stock has a market cap of C$89.03 million, a P/E ratio of -3.28 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.