MEI Pharma (NASDAQ:MEIP) Posts Quarterly Earnings Results

MEI Pharma (NASDAQ:MEIP) issued its quarterly earnings data on Wednesday. The company reported ($0.48) earnings per share for the quarter, Zacks reports.

MEI Pharma Stock Down 1.5 %

MEI Pharma stock traded down $0.04 during mid-day trading on Wednesday, reaching $2.66. 2,534 shares of the company’s stock traded hands, compared to its average volume of 11,683. MEI Pharma has a 12-month low of $2.30 and a 12-month high of $4.90. The company has a market cap of $17.72 million, a price-to-earnings ratio of -0.38 and a beta of 0.79. The stock has a 50 day moving average of $2.68 and a two-hundred day moving average of $2.90.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on MEI Pharma in a research note on Tuesday. They set a “buy” rating for the company.

About MEI Pharma

MEI Pharma, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor for the treatment of patients with relapsed/refractory follicular lymphoma; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase I clinical trial for acute myeloid leukemia and B-cell malignancies.