NEW YORK, April 10, 2013: MEI Pharma, Inc., an oncology company focused on the clinical development of novel therapies for cancer, today closed an underwritten registered offering of 2,030,000 shares of its common stock at a price per share of $7.50.
San Diego-based MEI Pharma, whose shares are traded on the NASDAQ Capital Market, plans to use the net proceeds of the offering, together with available funds, to progress the clinical development program for its lead drug candidate, Pracinostat, and for other general corporate purposes. Pracinostat is a potential best-in-class, oral histone deacetylase inhibitor being developed for advanced hematologic malignancies such as myelodysplastic syndrome and acute myeloid leukemia.
Morgan Lewis advised MEI Pharma on the offering. The Morgan Lewis team was led by Business and Finance partner Steven Navarro and included Business and Finance partner Finnbarr Murphy, Business and Finance associates Jonathan Shade and Karl Goodman and FDA Practice partner Phoebe Mounts.