Welcome to our dedicated page for MEI Pharma news (Ticker: MEIP), a resource for investors and traders seeking the latest updates and insights on MEI Pharma stock.
MEI Pharma, Inc. (NASDAQ: MEIP), based in San Diego, is an oncology-focused biotechnology company dedicated to the clinical development of innovative cancer therapies. The company's mission is to improve the quality of life and outcomes for cancer patients through the development of novel treatments.
Core Business and Drug Candidates:
- Pracinostat: MEI Pharma's lead drug candidate, Pracinostat, is an oral histone deacetylase (HDAC) inhibitor. It has received breakthrough therapy designation from the FDA when used in combination with azacitidine for treating patients with newly diagnosed acute myeloid leukemia (AML) who are aged 75 or above, or those unfit for intensive chemotherapy.
- ME-401 (formerly PWT143): A next-generation oral phosphatidylinositide 3-kinase delta (PI3K delta) inhibitor being developed for patients with recurrent chronic lymphocytic leukemia (CLL) or follicular non-Hodgkin's lymphoma (NHL).
- ME-344: This isoflavone-based mitochondrial inhibitor is being explored for the treatment of HER2-negative breast cancer, demonstrating MEI Pharma's commitment to addressing unmet needs in oncology.
Recent Achievements and Partnerships: MEI Pharma has made significant strides in its clinical programs. The breakthrough therapy designation for Pracinostat underscores its potential impact in the treatment landscape of AML. In addition, strategic collaborations with leading research institutions and oncology experts bolster the company's development capabilities and market positioning.
Financial Condition: MEI Pharma continues to focus on advancing its clinical pipeline while maintaining a prudent financial strategy. The company’s investment in cutting-edge research and clinical trials is supported by strategic funding initiatives, ensuring sustained progress in its mission to combat cancer.
Current Projects: The clinical development of Pracinostat, ME-401, and ME-344 remains at the forefront of MEI Pharma’s efforts. Ongoing clinical trials and research are expected to provide valuable data, guiding future regulatory submissions and potential market approvals.
With a robust pipeline and a clear focus on innovative cancer therapies, MEI Pharma, Inc. stands as a significant player in the oncology sector. For more information, please visit www.meipharma.com.
MEI Pharma (Nasdaq: MEIP) reported its financial results for the quarter ending September 30, 2024. The company is actively exploring strategic alternatives to maximize shareholder value, including out-licensing and M&A opportunities, with Oppenheimer & Co. as its exclusive financial advisor. MEI Pharma began cash preservation efforts in the first quarter of fiscal year 2025, including a reduction-in-force. The company holds $26.9 million in cash, cash equivalents, and short-term investments with no outstanding debt. There is no assurance that the exploration of strategic alternatives will result in any agreements or transactions, and the company does not expect to disclose further developments unless legally required or until the evaluation is complete.
MEI Pharma (Nasdaq: MEIP) reported its fiscal year end 2024 results, confirming the continuation of its strategic alternatives evaluation. The company announced on July 22, 2024, that it had begun this process to maximize stockholder value. Oppenheimer & Co., Inc. was engaged as the exclusive financial adviser for this review. Options under consideration include out-licensing existing programs and potential mergers or acquisitions.
To preserve cash, MEI initiated a reduction-in-force on August 1, 2024, which will progress in stages. While clinical development of voruciclib has been discontinued, some non-clinical activities for other drug candidates continue. As of June 30, 2024, MEI had $38.3 million in cash, cash equivalents, and short-term investments with no outstanding debt.
MEI Pharma (Nasdaq: MEIP) has announced the engagement of Oppenheimer & Co. Inc. as its exclusive financial advisor to assist in evaluating strategic alternatives. This move is part of the company's previously announced process to review potential options, with a focus on maximizing stockholder value. MEI Pharma emphasizes that there is no guarantee that this exploration will result in any agreements or successful transactions. The company plans to maintain discretion regarding the process and will only disclose developments if required legally or deemed appropriate by the Board of Directors.
MEI Pharma (Nasdaq: MEIP) has announced a strategic review, including potential transactions or an orderly wind-down, to maximize shareholder value. The company will implement a reduction-in-force and discontinue clinical development of voruciclib to preserve cash. Key leadership changes include:
1. CEO David M. Urso and CMO Richard Ghalie stepping down on August 1, 2024
2. Board Chairperson Charles V. Baltic III resigning immediately
3. CFO Justin File appointed as Acting CEO
4. Frederick W. Driscoll appointed as new Board Chairperson
The company will explore options such as out-licensing programs and M&A opportunities. If no advantageous alternatives are found, an orderly wind-down of operations will be considered.
MEI Pharma, a clinical-stage pharmaceutical company, reported positive results for the third quarter fiscal year 2024, highlighting promising clinical data for voruciclib and ME-344. The ongoing Phase 1 study evaluating voruciclib plus venetoclax in R/R AML patients showed anti-leukemic activity, with complete responses and significant decreases in Mcl-1 levels. MEI's Board of Directors is focused on advancing the voruciclib program, with a cash balance of $56.6 million. MEI also initiated research on a new ME-344 formulation and decided to prioritize clinical development of voruciclib. Financially, MEI had no debt, $56.6 million in cash, and believes its cash balance is sufficient for the next 12 months.
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