09:23 AM EDT, 08/01/2024 (MT Newswires) -- Medicenna Therapeutics ( MDNAF ) on Thursday reported the latest patient data from its MDNA11 monotherapy program and its first-quarter results.

The company said a patient with melanoma achieved a "complete response" following treatment with MDNA11 at week 52. The patient, which had failed previous therapy, showed 100% regression of all target and non-target lesions.

Updated scans from a pancreatic cancer patient also showed "sustained 100% regression" of target and non-target lesions at 115 weeks. The patient remains in remission six months after ending MDNA11 treatment.

All other previously announced patients with partial responses remain on treatment.

Commenting on the patients outcomes, Fajar Merchant, Medicenna president and CEO, said, the "melanoma complete responder remains on treatment after 12 months and the pancreatic cancer patient has shown durable tumor control for over 115 weeks while maintaining complete regression of target and non-target lesions for the past 6 months without any further treatment. These data underscore MDNA11's best-in-class attributes including its favorable safety, pharmacokinetic, and pharmacodynamic profile."

Medicenna reported a first quarter net loss of $3.6 million or $0.05 per share compared with a loss of $2.8 million or $0.04 per share last year. The increased loss was due to the $1.7 million non-cash gain in the fair value of a warrant derivative last year.

At June 30, Medicenna had a cash balance of $35.6 million, allowing it to complete the ABILITY-1 study and through to the middle of 2026.