07:59 AM EDT, 06/26/2025 (MT Newswires) -- Medicenna Therapeutics ( MDNAF ) on Thursday said net loss for the fiscal year decreased and beat forecasts.

The net loss for the year ended March 31, was $11.8 million or $0.15 per share compared to a net loss of $25.5 million or $0.37 per share for the previous year. The result beat the consensus analyst estimate of a loss of $0.21 per share, according to FactSet.

The narrowed net loss was due to lower fair value of the derivative warrant liability of $6.3 million, versus an increase of $7.9 million in the prior year. This was because of the decline in Medicenna's share price, a statement said.

Research and development expenses rose to $14.4 million, from $10.8 million the year before, on higher clinical costs linked to the MDNA11 ABILITY-1 study expansion. MDNA11 Phase 1/2 clinical trial results are on track for data readouts in second half of the year, Medicenna said.

Medicenna exited the fiscal year with cash and cash equivalents of $24.8 million, which are expected to provide it with sufficient capital to execute its current planned expenditures to mid-2026.