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      Reasons of Medicenna Therapeutics Corp. (MDNA) downfall: - Stocks Telegraph

      By ST Staff

      Published on

      November 15, 2021

      11:08 AM UTC

      Reasons of Medicenna Therapeutics Corp. (MDNA) downfall: - Stocks Telegraph

      Medicenna Therapeutics Corp. (MDNA) stock closed at 2.56 CAD as per the data of 12 November 2021. The volume of shares traded was 72.57K. There was no significant change in the price of share at the closing time and one day before of the trading price. Let’s dig deep into the information.

      Financial highlights of Medicenna Therapeutics Corp. (MDNA):

      • There renevue of 2021 and 2020 was zero.
      • The company did nothing in terms of sales. In both the financial years the company faced major losses.
      • Spending on research and development almost doubled. In 2020 they were $4,124 and in 2021 they were $8,649.

      Reasons of zero revenue:

      Medicenna Therapeutics Corp. (MDNA) does not provide any specific reasons for its zero revenue for continuously 2 years. They are very discrete abouot this information at the moment. But what onething it shows that is significant in the financial statement of Medicenna Therapeutics Corp. (MDNA) is that there Research and Development spending have almost doubled. The company is trying to experiment on many projects which are in pipeline. It could not be said with complete surety that it will bring a positive or negative change but it the Medicenna Therapeutics Corp. (MDNA) is working on something at the moment.

      Financial Highlights announced in 2021 financial statements:

      • Zero revenue
      • Medicenna had cash, cash equivalents, and marketable securities worth of $26.7 million at the time period of September 30, 2021. These funds were sufficient enough for the Company to execute its current planned spending through the end of calendar 2022 based on its recent plans.
      • Net loss for the quarter ended September 30, 2021, was $8.2 millioncompared to a loss of $3.8 millionfor the quarter ended on 30 September, 2020. The increase in net loss for the quarter ended September 30, 2021 compared with the quarter ended September 30, 2020 was mainly a result of increased R&D expenditures.

      Conclusion:

      The stock price of Medicenna Therapeutics Corp. (MDNA) is constantly going downwards. There revenues are zero for the consecutive 2 years. There press release did not announce any information in the recent past that will have a significant effect on the share price of its company. There is no financial data of the company which allows the financial analysts to forecast the growth rate with respect to its previous performances and upcoming trends.

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