MEI Pharmaceuticals Inc., a development-stage oncology company, focuses on the clinical development for the treatment of cancer. The companies lead drug Pracinostat, an orally available inhibitor is currently in phase 2 trials for the treatment of myelodysplastic syndrome (MDS), and acute myeloid leukemia (AML).
Financial Statistics:
$59.8 million cash
Debt - None
27.9 million fully diluted shares outstanding
4.9 million shares in warrants, strike price $3.50
223 million market cap
Intellectual Property:
Pracinostat - Composition of matter to 2028, methods of use 2025
ME-344 - Composition of matter and methods of use to 2025
PWT 143 - Composition of matter 2031 and methods of use 2032
Market Opportunity Potential:
$1,491 Billion market in the U.S.
Safety:
Tested in 200+ patients in multiple phase 1 and phase 2 clinical trials.
Readily manageable side effects consistent with current drugs of this class.
Timeline Catalyst:
Pracinostat: Front Line MDS study Intermediate-2 and High-Risk Patients.
-Expect to complete enrollment in Q3 2014, and unblind study in Q1, 2015.
Pracinostat: Refractory MDS Study - Failure after initial HMA Therapy.
-Preliminary data expected at Ash December, 2014.
Pracinostat: Front Line AML study for elderly patients not suited for intensive chemotherapy.
-Preliminary data expected at Ash December, 2014.
Below is a daily chart of MEIP.
Below is a daily chart of MEIP.
Bottom Line: By the end of 2014 we should have a good grasp of how Pracinostat has been performing in three phase 2 clinical trials for MDS and AML. Their lead drug is an oral (as opposed to IV) therapy that has been well tolerated in over 200 + patients to date. There is an unmet need for a well tolerated solution for the elderly population who are victims of MDS or AML. Pracinostat is well tolerated, orally available, and MEI Pharma holds worldwide exclusivity on the drug. Thank you for reading.
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