Medicenna in the spotlight (part IX)
Aftermath of financing, implications, and long-term outlook
This morning, Medicenna (MDNA) announced the pricing of a $20M financing. 13.33M shares were sold at $1.50/share and came with an additional 13.33M 5-year warrants at $1.85/share. MDNA traded down 45% on news of the deal.
There has been a financing overhead on MDNA as the company has needed to raise to continue development of MDNA11 in combination studi…