MEI Pharma, Inc. - MEIP STOCK NEWS

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.

MEI Pharma reported its Q2 fiscal results, ending December 31, 2021, highlighting significant progress in clinical trials and financial metrics. The company holds approximately $186 million in cash, allowing operations through 2023. Key developments include a 70.3% overall response rate from the Phase 2 TIDAL study for zandelisib in follicular lymphoma and FDA orphan-drug designation for the same treatment. Revenue rose to $18.2 million, and net loss was reduced to $5.8 million per share. Upcoming milestones include further clinical studies for zandelisib and other candidates.

MEI Pharma, Inc. (NASDAQ: MEIP) has announced the expansion of its management team with the appointments of Alejandro Ricart, M.D., as Senior Vice President of Clinical Development, and Yomara Gomez-Naiden as Senior Vice President of Quality. Both executives bring over 20 years of experience to the company. Dr. Ricart previously worked at TG Therapeutics and Novartis, while Ms. Gomez-Naiden has a strong background in quality assurance from AGC Biologics and Merck. The company aims to advance its cancer therapies, including zandelisib, toward regulatory approval.

MEI Pharma, Inc. (NASDAQ: MEIP) has granted inducement stock options totaling 588,000 shares to seven new employees, in accordance with Nasdaq Listing Rule 5635(c)(4). The exercise price for these options is set at $1.93 per share, equal to the closing stock price on the grant date. Options are part of the 2021 Inducement Grant Equity Compensation Plan, with a 10-year term and a structured vesting schedule. MEI Pharma continues to focus on developing new cancer therapies, including zandelisib, which is in clinical trials for potential FDA approval.

MEI Pharma, Inc. (NASDAQ: MEIP) announced the grant of stock options for 155,000 shares to seven new employees as an inducement to employment. The options, priced at $2.67 per share, align with the company's compensation plans and comply with Nasdaq rules. These options will vest over a 4-year period, with 25% vesting after one year and the remainder vesting monthly thereafter. MEI Pharma focuses on developing cancer therapies, currently advancing zandelisib in a Phase 2 clinical trial which may lead to FDA accelerated approval.

MEI Pharma (Nasdaq: MEIP) has successfully closed a public offering of 20,125,000 shares, raising approximately $52.3 million at $2.60 per share. The offering included 2,625,000 shares from underwriters' exercised options. Proceeds are earmarked for advancing clinical programs and supporting the launch of zandelisib, pending FDA approval, along with general corporate needs. Jefferies, Stifel, and Wells Fargo Securities served as joint book-running managers.

MEI Pharma, Inc. (NASDAQ: MEIP) announced the grant of stock options totaling 166,000 shares to six new employees as an inducement for their employment. The stock options were issued at an exercise price of $3.37 per share, matching the closing stock price on the grant date. These options are part of the 2021 Inducement Grant Equity Compensation Plan and have a 10-year term. Vesting occurs with 25% on the first anniversary and the remainder monthly thereafter. MEI Pharma focuses on developing cancer therapies, including zandelisib, which is in clinical trials.