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.
The MEIP news page on Stock Titan provides an organized view of public announcements and regulatory disclosures related to MEI Pharma, Inc. and its transition to Lite Strategy, Inc. These items trace the company’s path from a clinical-stage oncology business with a portfolio of cancer drug candidates to an enterprise emphasizing a Litecoin-focused digital asset treasury strategy.
Earlier news releases describe MEI Pharma’s work as a pharmaceutical company with drug candidates such as voruciclib and ME-344, along with updates on cash position, research and development spending, and the evaluation of strategic alternatives. These reports document the company’s efforts to preserve cash, consider out-licensing and merger and acquisition options, and adjust its workforce and clinical programs while seeking to maximize asset value for stockholders.
More recent articles highlight a major strategic shift: the launch of a Litecoin treasury initiative, a large private placement to fund this strategy, and the acquisition of a substantial Litecoin position. The company’s news also details the appointment of digital asset advisors, board changes linked to its treasury focus, and the formal rebranding to Lite Strategy, Inc. with a new NASDAQ ticker symbol, LITS.
Investors and researchers using this page can follow how MEI Pharma’s oncology-focused narrative evolved into a digital asset treasury story, including key milestones such as the private placement, Litecoin acquisitions, and the corporate name and ticker change. For ongoing developments after the symbol transition, users should also review news associated with Lite Strategy, Inc. under its current trading symbol.
MEI Pharma (Nasdaq: MEIP) announced the appointment of Sujay Kango to its board of directors, effective November 22, 2021. Kango brings over 25 years of experience in the pharmaceutical industry, notably in commercial operations and product launches. His expertise is expected to aid MEI as it transitions to a commercial-stage company. Additionally, Kevan Clemens, Ph.D., has resigned from the board after several years of service. MEI Pharma focuses on developing innovative cancer therapies and currently has clinical trials underway for its product candidates.
MEI Pharma (NASDAQ: MEIP) reported its Q1 FY2022 financial results, highlighting a cash position of $145.5 million. The company is on track to report data from the TIDAL study by year-end 2021, which evaluates zandelisib for follicular lymphoma. Key developments include the initiation of the Phase 3 COASTAL study and a $20 million milestone payment from Kyowa Kirin. Revenue for the quarter was $13.4 million, up from $3.8 million in Q1 2021, while net loss increased to $11.9 million, or $0.11 per share. MEI plans further pipeline advancements and is positioned to support a New Drug Application.
MEI Pharma has received orphan-drug designation from the FDA for zandelisib, a treatment for follicular lymphoma. This designation provides various incentives, including tax credits and potential seven years of marketing exclusivity upon approval. Zandelisib, a selective PI3Kδ inhibitor, is currently undergoing Phase 2 and Phase 3 trials to assess its efficacy against follicular and marginal zone lymphomas. MEI and Kyowa Kirin are collaborating on its development, with MEI retaining all U.S. sales revenue.
MEI Pharma, Inc. (NASDAQ: MEIP) announced the presentation of three abstracts at the 63rd Annual American Society of Hematology Meeting from December 11 to 14, 2021. The studies include: 1) a Phase 3 trial of zandelisib with rituximab versus standard immunochemotherapy for indolent non-Hodgkin’s lymphoma; 2) ME-344's enhancement of venetoclax activity against acute myeloid leukemia (AML); and 3) a Phase 1 study of voruciclib in B-cell malignancies. The latter showed promising results with no significant toxicities and disease stabilization in heavily treated patients.
MEI Pharma, Inc. (NASDAQ: MEIP) has granted stock options for 133,000 shares to two new employees as an inducement for their acceptance of employment. The options have an exercise price of $2.82 per share, matching the closing price on the grant date. These grants are part of the 2021 Inducement Grant Equity Compensation Plan and were approved by the Compensation Committee. The options will vest 25% after one year, with subsequent monthly vesting over three years. MEI Pharma focuses on developing new cancer therapies and currently has four clinical-stage assets.
MEI Pharma, Inc. (NASDAQ: MEIP) announced the grant of inducement stock options totaling 136,000 shares to three new employees. These options, set at an exercise price of $2.76 reflect the stock's closing price on the grant date. The options have a 10-year term, vesting 25% on the one-year anniversary and 2.0833% monthly thereafter, with potential early vesting in case of a change of control. This grant is part of the company's 2021 Inducement Grant Equity Compensation Plan and aligns with Nasdaq regulations.
MEI Pharma, Inc. (NASDAQ: MEIP) will present its company overview and business update at the 2021 Cantor Virtual Global Healthcare Conference on September 29, 2021, at 4:00 p.m. Eastern Time. The presentation can be accessed on their website's Investors section. MEI Pharma focuses on developing new cancer therapies, with multiple clinical-stage assets, including zandelisib, which aims for FDA approval. An archived replay will be available for at least 30 days post-event. For more details, visit MEI Pharma's website.
MEI Pharma, Inc. (NASDAQ: MEIP) announced the grant of inducement stock options for 132,000 shares to four new employees, in line with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $2.80 per share, equivalent to the stock’s closing price on the grant date. These inducement options are part of the company’s 2021 Inducement Grant Equity Compensation Plan, vesting 25% after one year and the remainder monthly over three years. MEI Pharma focuses on developing cancer therapies, including zandelisib, which is undergoing clinical trials.
MEI Pharma (NASDAQ: MEIP) reported fiscal year 2021 results, concluding on June 30, 2021, showcasing significant developments in their oncology pipeline. Key highlights include advancements in zandelisib, an oral PI3K delta inhibitor, with anticipated topline data from the Phase 2 TIDAL study by year-end. The company reported a net loss of $50.6 million, or $0.45 per share, with cash reserves at $153.4 million. R&D expenses surged to $69.4 million, reflecting costs associated with clinical trials. MEI aims to commercialize zandelisib while expanding its clinical studies.
MEI Pharma, a late-stage pharmaceutical company focused on cancer therapies, will present at two upcoming investor conferences. The first is the 2021 Virtual Wells Fargo Healthcare Conference on September 9, 2021, at 1:20 p.m. ET. The second presentation will be available for on-demand listening at the H.C. Wainwright 23rd Annual Global Investment Conference starting September 13, 2021, at 7:00 a.m. ET. Interested parties can access these presentations on MEI Pharma's Investors page, along with archived webcasts for 30 days post-event.