MEI Pharma slumps on extended approval pathway for cancer drug

Kyowa Kirin

24/03/2022 20:58

** Shares of cancer drug developer MEI Pharma Inc  MEIP.O 
down ~49% in extended trading
    ** MEIP and Kyowa Kirin Co Ltd  4151.T  say they do not plan
to pursue accelerated U.S. FDA approval of their experimental
cancer drug, zandelisib, based on a mid-stage study alone
 urn:newsml:reuters.com:*:nBw5GFXtNa
    ** Cos say the FDA emphasized that they continue efforts
with an ongoing, late-stage study as planned
    ** Based on current projections, MEI says it has sufficient
cash for operations to complete the late-stage study enrollment
in 2024
    ** Up to Thursday's close, MEIP down ~32% YTD

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; +91  8061822700;))