Shareholder Alert: Robbins LLP Reminds Investors MEI Pharma, Inc. (MEIP) Accused of Misleading Shareholders
The Californer/10099705

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

• Patrick Perez Steps Beyond Crunchyroll to Shape the Next Wave of Streaming & Media Innovation
• Mesa West Capital Originates $43.5 Million Loan to Refi LA Area Apartment Community
• 10xLaw.com Extends Employment Opportunity to Kim Kardashian
• DecisionPoint Technologies Accelerates Growth with Acquisition of Acuity Technologies
• CCHR: Involuntary Commitment Is Eugenics Repackaged as "Mental Health Care"

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

• Pacsun Announces Industry First Pacsun Youth Advisory Council: Empowering Its Consumers as Co-Creators in Brand Strategy
• Q2 2025 Industry Impact Report Underscores Semiconductor Expansion, Talent Development and Sustainability Milestones
• 84 Ethiopian Churches Change Signboards to Shincheonji Church of Jesus
• BTXSGG Outlines Four-Pillar Framework to Enhance Digital Asset Security and Compliance
• NJTRX Positions for Next-Generation Asset Trading with U.S. Regulatory Framework

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.

---

Show All News | Report Violation