Mei Pharma Inc Stock Price, News & Analysis

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.

MEI Pharma, Inc. (NASDAQ: MEIP) announced the grant of inducement stock options for 295,000 shares to four new employees, aligning with Nasdaq Listing Rule 5635(c)(4). The options, priced at $0.6025 per share, match the stock's closing price on the grant date. These options are part of the 2021 Inducement Grant Equity Compensation Plan and will vest over four years. MEI Pharma is focused on developing cancer therapies, including ongoing clinical trials for zandelisib, which aims to address unmet medical needs.

MEI Pharma (NASDAQ: MEIP) and Kyowa Kirin have updated their development strategy for zandelisib, a PI3K inhibitor, following a meeting with the FDA. The FDA now requires randomized trials, such as the ongoing Phase 3 COASTAL study, to assess zandelisib's efficacy and safety. Consequently, the companies will not submit an FDA application based on the Phase 2 TIDAL study. Although this situation is disappointing, MEI maintains confidence in zandelisib's potential and has sufficient cash for operations through 2024 to support ongoing trials.

MEI Pharma, Inc. (NASDAQ: MEIP) has announced that two abstracts will be presented at the American Association for Cancer Research Annual Meeting 2022 from April 8-13, 2022. The first abstract concerns zandelisib (ME-401) in chronic lymphocytic leukemia, showing promising immunomodulatory effects and improved survival in preclinical models. The second abstract discusses ME-344, combined with venetoclax, demonstrating a new approach to overcome treatment resistance in acute myeloid leukemia. These developments highlight MEI Pharma's commitment to advancing cancer therapies.

MEI Pharma, Inc. (NASDAQ: MEIP) has announced the grant of inducement stock options for 210,000 shares to four new employees, as per Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $2.16 per share, equal to the closing stock price on the grant date. They are part of the 2021 Inducement Grant Equity Compensation Plan and have a 10-year term. Vesting is scheduled at 25% after 12 months and 2.0833% monthly thereafter. This move is aimed at enhancing talent retention and incentivizing new hires within the firm focused on developing cancer therapies.