Trending...
- Tips for Skin Care During the Winter Months
- Saya International Corporation Announces Appointment of Sheida Chumba to its Board of Directors
- George Harrison's Seminal 1970 Solo Album 'All Things Must Pass' Celebrated With New Stereo Mix Of Legendary Title Track On Its 50th Anniversary
SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP reminds investors that a purchaser of MEI Pharma, Inc. (NASDAQ: MEIP) filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between August 2, 2017 and July 1, 2020. MEI Pharma is a late-stage pharmaceutical company that focuses on the development of various therapies for the treatment of cancer. One of MEI Pharma's drug candidates include Pracinostat, an oral histone deacetylase ("HDAC") inhibitor.
If you suffered a loss due to MEI Pharma's misconduct, click here.
MEI Pharma, Inc. (MEIP) Accused of Misleading Shareholders
More on The Californer
According to the complaint, in 2016 MEI Pharma entered into an exclusive license agreement with Helsinn Healthcare SA, a Swiss pharmaceutical corporation ("Helsinn"), in which Helsinn would develop, manufacture, and commercialize Pracinostat while MEI Pharma received $20 million for the grant rights with the potential to receive up to $444 million in regulatory and sales-based milestones along with royalty payments. In August 2017, MEI Pharma and Helsinn announced the beginning of the Phase 3 Pracinostat trial after "the potential of [P]racinostat … was demonstrated in the Phase 2 study," touting that the "well-powered, rigorously designed Phase 3 study" would bring Pracinostat one step closer to becoming a treatment for those with AML. In later SEC reports and filings, MEI Pharma continued to tout the "potency" and median overall survival of patients in the Phase 2 trial of Pracinostat. Despite the Company's positive representations of the drug, on July 2, 2020, MEI Pharma announced it was discontinuing the Phase 3 Pracinostat trial, revealing that an interim futility analysis of the study "demonstrated [Pracinostat] was unlikely to meet the primary endpoint of overall survival compared to the control group." On this news, MEI Pharma's shares fell 18% to close at $3.49 per share and has yet to recover.
More on The Californer
MEI Pharma, Inc. (MEIP) Shareholders Have Options
Contact us to learn more:
Lauren Levi
(800) 350-6003
llevi@robbinsllp.com
Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against MEI Pharma settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch today.
Attorney Advertising. Past results do not guarantee a similar outcome.
If you suffered a loss due to MEI Pharma's misconduct, click here.
MEI Pharma, Inc. (MEIP) Accused of Misleading Shareholders
More on The Californer
- CLARA Analytics Unveils Its AI-Based Litigation Avoidance Solution for Commercial Auto
- Shero Comics' Cheerleading Comic, Squad Goals, Debuts as #1 Amazon Best Seller
- California: Governor Newsom Announces Appointments 12.2.20
- San Jose: FLASH REPORT #139 - COVID-19 Response and Recovery
- Quantum Integration's Internet of Things Platform Receives Warm Reception From Early Supporters
According to the complaint, in 2016 MEI Pharma entered into an exclusive license agreement with Helsinn Healthcare SA, a Swiss pharmaceutical corporation ("Helsinn"), in which Helsinn would develop, manufacture, and commercialize Pracinostat while MEI Pharma received $20 million for the grant rights with the potential to receive up to $444 million in regulatory and sales-based milestones along with royalty payments. In August 2017, MEI Pharma and Helsinn announced the beginning of the Phase 3 Pracinostat trial after "the potential of [P]racinostat … was demonstrated in the Phase 2 study," touting that the "well-powered, rigorously designed Phase 3 study" would bring Pracinostat one step closer to becoming a treatment for those with AML. In later SEC reports and filings, MEI Pharma continued to tout the "potency" and median overall survival of patients in the Phase 2 trial of Pracinostat. Despite the Company's positive representations of the drug, on July 2, 2020, MEI Pharma announced it was discontinuing the Phase 3 Pracinostat trial, revealing that an interim futility analysis of the study "demonstrated [Pracinostat] was unlikely to meet the primary endpoint of overall survival compared to the control group." On this news, MEI Pharma's shares fell 18% to close at $3.49 per share and has yet to recover.
More on The Californer
- Triumph Tech Achieves AWS DevOps Competency
- Governor Newsom Statement on Death of California Highway Patrol Officer 12.2.20
- Granite Awarded $16 Million Airport Refueling Facility Project in San Diego
- Shero Comics' Cheerleading Comic, Squad Goals, Debuts as #1 Amazon Best Seller
- Supreme Court Rules There Is No Santa Claus In New Holiday Book
MEI Pharma, Inc. (MEIP) Shareholders Have Options
Contact us to learn more:
Lauren Levi
(800) 350-6003
llevi@robbinsllp.com
Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against MEI Pharma settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch today.
Attorney Advertising. Past results do not guarantee a similar outcome.
Filed Under: Business
0 Comments
Latest on The Californer
- Berkshire Hathaway Homeservices Hilton Head Bluffton Realty Taps Christina Galbreath-Gonzalez To Lead Bluffton Office
- Robert T. Ball, Jr., MD Honored with ReadyCommunities Partnership/CCROA 2020 National Service Award For Leadership in SC Communities Amidst Pandemic
- Introducing Salesforce Hyperforce
- Gupshup Launches a New Messaging Channel, GIP, to Enhance Business Communications with Consumers
- Australian Artist seeks 4 Million USD in damages from Bollywood
- Micro Magic, Inc. Delivers World's Highest Performance/Power RISC-V Core
- Bidgely Recognized by NARUC for Enhancing Gas Utility Customer Engagement and Energy Efficiency Through Artificial Intelligence
- San Jose: Notice of CEQA Posting: Initial Study/Addendum for Delmas Senior Living Project
- Vesper Public Relations Pushes Through A Year of Panic & Pandemic spreading their client's messages
- Scali Rasmussen Recognized as a 'Most Admired Law Firm' by the Los Angeles Business Journal
- California: Governor Newsom Announces Appointments 12.1.20
- Reigning National Football League's DPOY, Stephon Gilmore, Hand Writes a Note to his Five-Year Old Son, Addressing Why "Black Lives Matter"
- SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Cabot Oil & Gas Corporation and Encourages Investors with Losses to Contact the Firm
- 12 Days of Vallejo Photo Contest
- As Holiday Cases Rise, Chris Mann's New Viral Smash, "the 12 Days Of Quarantine," Reminds Us Where We Began
- Governor Newsom Releases the Master Plan for Early Learning and Care: California for All Kids
- Outer Aisle Expands New Distribution in Major Retailers Nationwide
- Chipotle Mexican Grill To Announce Fourth Quarter And Full Year 2020 Results On February 2, 2021
- Genentech Announces FDA Approval of Gavreto (pralsetinib) for People With Advanced or Metastatic RET-Mutant and RET Fusion-Positive Thyroid Cancers
- San Jose: San José Mayor Statement on Thanksgiving Gathering