MEI Pharma, Inc. - MEIP STOCK NEWS

MEI Pharma announced promising data from the zandelisib clinical development program presented at the 2022 European Hematology Association Hybrid Congress. The Phase 2 TIDAL study reported a 70.3% objective response rate and a 35.2% complete response rate in patients with relapsed or refractory follicular lymphoma. Notably, 87.5% of responses occurred within the first two therapy cycles. Adverse events led to a 9.9% discontinuation rate, primarily consisting of Grade 3 AEs. The study aims to continue assessing zandelisib's safety and efficacy as enrollment progresses in additional cohorts.

MEI Pharma and Kyowa Kirin presented data from the ongoing Phase 2 TIDAL study on zandelisib at the ASCO 2022 Annual Meeting. The study showed a 70.3% objective response rate and a 35.2% complete response rate among patients with relapsed or refractory follicular lymphoma. Notably, 87.5% of responses occurred within the first two cycles of therapy. Safety data indicated that 9.9% of patients discontinued for drug-related adverse events, with 83% reporting Grade 3 adverse events primarily in initial treatment cycles. The results support the continued development of zandelisib, particularly in the Phase 3 COASTAL study.

MEI Pharma (NASDAQ: MEIP) has granted stock options for 40,000 shares to a new employee as an inducement for employment. The exercise price is $0.48 per share, equal to the closing stock price on the grant date. Approved by the Compensation Committee, the options will vest over a period of four years, with 25% vesting on the first anniversary and the remaining vesting monthly. This action aligns with the company’s 2021 Inducement Grant Equity Compensation Plan.

MEI Pharma, Inc. (NASDAQ: MEIP) and Kyowa Kirin Co., Ltd. announced the presentation of Phase 2 TIDAL study data on zandelisib at the ASCO 2022 Annual Meeting, scheduled for June 3-7, 2022. The study evaluates the efficacy and safety of zandelisib, a PI3Kδ inhibitor for treating B-cell malignancies. The abstract ID is 7511, with a poster discussion led by Dr. Andrew David Zelenetz on June 4. MEI Pharma focuses on developing innovative cancer therapies, aiming for FDA approvals for its clinical-stage assets.

MEI Pharma, Inc. (Nasdaq: MEIP) reported third-quarter results for FY 2022, highlighting $169 million in cash. Following an FDA meeting, the company will not pursue an accelerated FDA application for zandelisib based on single-arm TIDAL data but will continue with the randomized COASTAL study. The net loss for Q3 was $8.7 million, or $0.07 per share, a notable improvement from a $25.6 million loss in the previous year. R&D expenses increased to $22.3 million, driven by zandelisib studies. Revenue rose to $9.7 million, attributed to the Kyowa Kirin partnership.

MEI Pharma will participate in the H.C. Wainwright Global Investment Conference 2022, presenting a company overview and business update starting May 24, 2022, at 7:00 a.m. Eastern Time. The presentation will be available for on-demand listening for 90 days. MEI Pharma focuses on developing innovative therapies for cancer, with its clinical-stage assets including zandelisib, which is under FDA review. Interested parties can access the presentation on MEI Pharma's website.

MEI Pharma (NASDAQ: MEIP) and Kyowa Kirin (Tokyo: 4151) announced that two abstracts regarding zandelisib, a PI3Kδ inhibitor for B-cell malignancies, will be presented at the European Hematology Association (EHA) 2022 Hybrid Congress from June 9-17, 2022. Oral presentation on June 11 will focus on the efficacy and safety of zandelisib in relapsed or refractory follicular lymphoma, while a poster on June 10 will discuss results from a multi-arm Phase 1b study. These presentations may support future FDA marketing approvals.

MEI Pharma, Inc. (NASDAQ: MEIP) has granted inducement stock options totaling 100,000 shares to two new employees as a condition of employment. The options, priced at $0.49 per share, align with the company's stock's closing price on the grant date. These options have a 10-year term and will vest at specified intervals, including an initial 25% vesting after one year. The grant complies with Nasdaq Listing Rule 5635(c)(4), which necessitates immediate disclosure of such inducements.

MEI Pharma, Inc. (NASDAQ: MEIP) announced preclinical data presentations at the AACR Annual Meeting 2022 for zandelisib, a PI3K inhibitor, and ME-344, a mitochondrial inhibitor. Zandelisib demonstrated immunomodulatory effects in CLL models, improving overall survival. ME-344 enhanced venetoclax activity against AML, targeting metabolic vulnerabilities. Continuing clinical trials include the Phase 2 TIDAL study for zandelisib and a Phase 2 study for ME-344 with Avastin. These developments aim to progress MEI's pipeline and offer new cancer treatment options.