May 26, 2022

News to Track: MEI Pharma (NASDAQ:MEIP)

MEI Pharma (NASDAQ:MEIP) spotted trading -52.79% off 52-week high price. On the other end, the stock has been noted 123.61% away from the low price over the last 52-weeks. The stock changed 11.81% to recent value of $1.61. The stock transacted 1914134 shares during most recent day however it has an average volume of 609.79K shares. The company has 127.39M of outstanding shares and 98.42M shares were floated in the market.

On March 31, 2020, MEI Pharma (NASDAQ:MEIP) a late-stage pharmaceutical company focused on advancing new therapies for cancer, released that the U.S. Food and Drug Administration (FDA ) granted Fast Track designation to ME-401, MEI’s investigational selective oral inhibitor of phosphatidylinositol 3-kinase (PI3K) delta for the treatment of adult Patients with relapsed or refractory follicular lymphoma who have received at least two prior systemic therapies. MEI is currently conducting TIDAL (Trials of PI3K DeltA in Non-Hodgkin’s Lymphoma), a Phase 2 trial evaluating ME-401 in patients with relapsed or refractory follicular lymphoma (FL). TIDAL is intended to support an accelerated approval marketing application with the FDA.

We are pleased to report that we have received Fast Track designation for ME-401. This designation holds several important advantages to expedite the development and regulatory review of ME-401 as we work diligently to deliver it as a new potential treatment option for patients and their physicians, said Daniel P. Gold, Ph.D., president and chief executive officer of MEI Pharma. We remain very encouraged by the maturing body of ME-401 clinical data, and we are excited to continue expanding the opportunity that ME-401 holds to provide a meaningful impact in the treatment of B-cell malignances.

Its earnings per share (EPS) expected to touch remained 75.60% for this year while earning per share for the next 5-years is expected to reach at -0.10%. MEIP has a gross margin of 20.90%.

According to the most recent quarter its current ratio was 10.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of 11.12% from the mean of 20 days, -17.77% from mean of 50 days SMA and performed -16.52% from mean of 200 days price. Company’s performance for the week was 14.18%, -22.97% for month and YTD performance remained -35.08%.

Shawn Harris is a Master’s in Business Administration by education. After completing his post-graduation, Shawn jumped the journalism bandwagon as a freelance journalist. Soon after that he landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor. As an avid day trader, Shawn is a master of technical analysis and writes tirelessly on how stocks are trading. He has extensive knowledge in technical analysis & news writing.