Medicenna shareholders back share consolidation plan

Medicenna Therapeutics said shareholders approved a special resolution at its annual general and special meeting on October 1, 2026, allowing the board to consolidate the company’s issued and outstanding common shares at a ratio of one new share for every 2 to 20 existing shares.

The Toronto and Houston-based immunotherapy company said each of the nominees in its August 19, 2026 management information circular was elected as a director, with more than 97% of votes cast in favour at the meeting or by proxy. The elected directors were Albert Beraldo, Richard Sutin, Angelos Georgakis and Fahar Merchant.

Shareholders also re-appointed MNP LLP as the company’s auditor. Medicenna said 31.82% of its issued and outstanding common shares were represented in person and by proxy at the meeting.

The consolidation would be subject to the board’s decision on whether to proceed, and the company said it may be used as part of its review of strategic opportunities, including, if appropriate, support for compliance with the listing requirements of a major U.S. stock exchange. If the board moves ahead, Medicenna said it will announce the consolidation ratio and effective date after the necessary regulatory approvals are received.

Medicenna said the consolidation is not a guarantee that it will meet all major U.S. stock exchange listing requirements or that its common shares will be accepted for listing. Any such listing would still depend on the company meeting the relevant requirements and receiving approval from the exchange.