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MEI Pharma Announces $15.2 Million Registered Offering Of Common Stock

    MEI Pharma Announces $15.2 Million Registered Offering Of Common Stock

PR Newswire

SAN DIEGO, April 5, 2013

SAN DIEGO, April 5, 2013 /PRNewswire/ --MEI Pharma, Inc. (Nasdaq: MEIP), an
oncology company focused on the clinical development of novel therapies for
cancer, announced today an underwritten registered offering of 2,030,000
shares of its common stock at a price per share of $7.50. The offering is
expected to settle and close on April 10, 2013, subject to the satisfaction of
customary closing conditions.

(Logo: http://photos.prnewswire.com/prnh/20120628/LA32362LOGO)

The Company plans to use the net proceeds of the offering, together with other
available funds, to progress the clinical development program for its lead
drug candidate, Pracinostat, and for other general corporate purposes.

Stifel and Cowen and Company acted as joint book-runners for the offering.
Roth Capital Partners acted as co-manager.

The securities described above are being offered pursuant to a "shelf"
registration statement previously filed and declared effective by the
Securities and Exchange Commission (SEC). Copies of the prospectus supplement
and accompanying base prospectus relating to the offering may be obtained from
Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery
Street, Suite 3700, San Francisco, California 94104, or by calling (415)
364-2500, or from Cowen and Company, LLC, c/o Broadridge Financial Services,
1155 Long Island Avenue, Edgewood, New York 11717, Attention: Prospectus
Department, or by calling (631) 274-2806, or by faxing (631) 254-7140. An
electronic copy of the prospectus supplement and accompanying base prospectus
relating to the offering will also be available on the website of the SEC at
www.sec.gov.

This release does not constitute an offer to sell, or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of any such
jurisdiction.

About MEI Pharma

MEI Pharma, Inc. (Nasdaq: MEIP) is a San Diego-based oncology company focused
on the clinical development of novel therapies for cancer. The Company's lead
drug candidate is Pracinostat, a potential best-in-class, oral histone
deacetylase (HDAC) inhibitor being developed for advanced hematologic
malignancies such as myelodysplastic syndrome (MDS) and acute myeloid leukemia
(AML). Results from a pilot Phase II clinical trial of Pracinostat in
combination with azacitidine in patients with advanced MDS were presented at
the American Society of Hematology Annual Meeting in December 2012 showing an
overall response rate (CR+CRi+PR) of 89% (eight out of nine). The Company
plans to initiate a randomized, placebo-controlled Phase II trial of
Pracinostat in combination with azacitidine in patients with MDS in June 2013.
In addition, MEI Pharma is developing two drug candidates derived from its
isoflavone-based technology platform, ME-143 and ME-344.

Under U.S. law, a new drug cannot be marketed until it has been investigated
in clinical trials and approved by the FDA as being safe and effective for the
intended use. Statements included in this press release that are not
historical in nature are "forward-looking statements" within the meaning of
the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995. You should be aware that our actual results could differ materially
from those contained in the forward-looking statements, which are based on
management's current expectations and are subject to a number of risks and
uncertainties, including, but not limited to, our failure to successfully
commercialize our product candidates; costs and delays in the development
and/or FDA approval, or the failure to obtain such approval, of our product
candidates; uncertainties or differences in interpretation in clinical trial
results; our inability to maintain or enter into, and the risks resulting from
our dependence upon, collaboration or contractual arrangements necessary for
the development, manufacture, commercialization, marketing, sales and
distribution of any products; competitive factors; our inability to protect
our patents or proprietary rights and obtain necessary rights to third party
patents and intellectual property to operate our business; our inability to
operate our business without infringing the patents and proprietary rights of
others; general economic conditions; the failure of any products to gain
market acceptance; our inability to obtain any additional required financing;
technological changes; government regulation; changes in industry practice;
and one-time events. We do not intend to update any of these factors or to
publicly announce the results of any revisions to these forward-looking
statements.

SOURCE MEI Pharma, Inc.

Contact: Pete De Spain, Sr. Director, Investor Relations & Corporate
Communications, +1-858- 792-3729, pdespain@meipharma.com
 
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