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Medicenna Receives $1.3 Million Through Early Warrant Exercises
Medicenna Receives $1.3 Million Through Early Warrant Exercises Canada NewsWire ...
About this update from Medicenna Therapeutics Corp.
[{"type":"text","content":"\n\n\n\nMedicenna Receives $1.3 Million Through Early Warrant Exercises\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and HOUSTON, Jan. 8, 2020\n\n\n\nTORONTO and HOUSTON, Jan. 8, 2020 /CNW/ - Medicenna Therapeutics Corp. (\"Medicenna\" or the \"Company\") (TSX: MDNA; OTCQB: MDNAF), a clinical stage immuno-oncology company, announced today that it has received $1,345,871 from the early exercise of previously issued warrants. A total of 855,621 warrants were exercised, with exercise prices ranging from $1.20-$2.00. The proceeds of the warrant exercises will be used towards the development of Medicenna's long-acting IL-2 superkine (MDNA19) and for general and working capital purposes.\n\"This early exercise of warrants is a clear indicator of the confidence that investors have in Medicenna and our short and long-term opportunities,\" says Fahar Merchant, President and Chief Executive Officer of Medicenna. \"Combined with our recent oversubscribed financing, these funds provide us with a robust balance sheet that will see us through important upcoming milestones, including the completion of a full MDNA55 data set and subsequent meeting with the FDA, the ongoing advancement of our best-in-class IL-2 asset MDNA19 and our ongoing operations into 2021.\"  \nThe exercises consist of 274,000 warrants priced at $1.20 and expiring December 21, 2023, 526,621 warrants priced at $1.75 and expiring October 17, 2022, 5,000 warrants priced at $1.20 and expiring December 21, 2020, 15,000 warrants priced at $1.30 and expiring October 17, 2021 and 35,000 warrants priced at $2.00 and expiring April 5, 2021.  The number of issued and outstanding common shares following the exercises is 34,991,097.\nAbout Medicenna Therapeutics Corp.Medicenna is a clinical stage immunotherapy company focused on oncology and the development and commercialization of novel, highly selective versions of IL-2, IL-4 and IL-13 Superkines and first in class Empowered Cytokines™ (ECs) for the treatment of a broad range of cancers. Supported by a US$14.1M non-dilutive g...