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Agreed luton. £3 now would be the equivalent of 6p in old money, which is where I was selling in 2021. So not sure it's the end game that many LTH's had in mind, or they'd have sold already.
To save everyone googling away the minutes in their day a brief history of Mei Pharma which all sounds encouraging
MEI Pharma: A Summary History
Founding and Early Years (2010-2014):
Formed in 2010 by Daniel Gold, Ph.D., with a focus on developing novel therapies for cancer.
Initially focused on acquiring and developing CDK inhibitors, a class of drugs targeting cell cycle regulation.
Secured funding through several venture capital rounds and grants.
Shifting Focus and Growth (2014-2023):
Expanded pipeline in 2014 with the acquisition of MEI Pharma (originally known as Mirabilis Pharmaceuticals).
Gained access to ME-344, a potential treatment for solid tumors, and Voruciclib, a CDK9 inhibitor.
Advanced both drugs through clinical trials, with Voruciclib reaching Phase 3 for acute myeloid leukemia (AML).
Focused on partnerships and collaborations with other pharmaceutical companies.
Recent Developments (2023-Present):
Presented positive clinical data on Voruciclib at the American Society of Hematology (ASH) annual meeting in December 2023.
Announced design of ongoing Phase 2 clinical study for ME-344 at the ASCO Gastrointestinal Cancers Symposium in January 2024.
Released 2023 annual report highlighting financial performance and operational progress.
Continued focus on developing best-in-class cancer therapies and improving patient outcomes.
Key Points:
Founded in 2010, MEI Pharma has grown from a small, research-focused company to a clinical-stage pharmaceutical entity.
The company primarily focuses on developing novel cancer therapies, particularly CDK inhibitors.
Its lead drugs, Voruciclib and ME-344, are currently in clinical trials for various cancer indications.
MEI Pharma is committed to partnerships, collaborations, and continuous development to bring innovative treatments to patients.
If Mei had licensed 737 they'd have had to announce it here within a day of signing the agreement - https://www.sec.gov/edgar/search/#/dateRange=1y&ciks=0001262104&entityName=MEI%2520Pharma%252C%2520Inc.%2520(MEIP)%2520(CIK%25200001262104)
Only worry if an offer was made at the moment. A very low ball offer wouldn't break much ice.
But the reality of something like 10 x current SP such as about £3 per share probably would. It would suit me but not a lot of other long term holders.
Some good news required to propel the share price towards à more realistic level and then any offer for a buyout would be much better appreciated.
With a market cap of just £29million and a world class product /s it will only be a matter of time before Sareum will be taken over.
I would imagine several companies are running the ruler over them right now.
I would if I were in this area.
I flagged MEI as highly likely involved, especially the commitment of Nick Glover and also involvement 2021 in development of in combo therapy with Michelle Garrett.
100 million is circa the same as Acrivon raised.
Good finding there by Krone of raising funds, we should here news of on licence by end if March at the latest I would guess.
Regards
I agree Carter, especially when you add in the RF complication
Someone here flagged Mei Pharma as potentially involved in SRA737 given the Nick Glover connection.
Filing in respect of $100m raise issued yesterday…
” We are a clinical-stage pharmaceutical company committed to developing novel and differentiated cancer therapies. We build our pipeline by acquiring promising cancer agents and creating value in programs through clinical development, strategic partnerships, and out-licensing or commercialization, as appropriate. Our approach to oncology drug development is to evaluate our drug candidates in combinations with standard-of-care therapies to overcome known resistance mechanisms and address clear medical needs to provide improved patient benefit. The drug candidate pipeline includes voruciclib, an oral cyclin-dependent kinase 9 ("CDK9") inhibitor, and ME-344, an intravenous small molecule mitochondrial inhibitor targeting the oxidative phosphorylation pathway. Our common stock is listed on the Nasdaq Capital Market under the symbol “MEIP.”
Not saying your wrong Barno61, but many many people have told me predicting chart patterns on Aim is extremely difficult. We shall see.
The falling chart pattern line now seems to be above the falling line and a breakout upwards occurring.
Above 42 tomorrow to confirm the breakout and onto 50 very quickly
Weird just looked again and now showing 40p.
That’s Barclays I suppose
Shows 33.33 % up on this site with a 29% spread . ( D ) has it up 17% .
Share price today 35p hit a new low yesterday at 30p .
3rd January 2024 they were 67.5p last September 2023 82.5p a few times .
09/8/21 457p high .
Bought some back 03/5/22 for 215p 27/4/22 230p
Mine showing 40p
Ah yes, fair point. There were many at 41.95 through the afternoon. A large-ish RF sell perhaps.
No chance. Must be a sell . Buys were still well over 40p
That must have been an after hours buy? Based on the 35 being a sell before the close.
No. That was at 38.4p
Probably due to enormous late trade .
Just looked into my barclays account and it’s showing our SP as 30p yet everywhere else I look it’s 40p
Anyone else got this disparity?
RF must be selling otherwise one or more of these conditions (from the original RNS) would have no chance of being fulfilled:
a) the maximum amount deposited and outstanding being not greater than 10% of the market capitalisation of the Company at the time of the deposit.
b) the maximum amount drawn and outstanding being not greater than a 15x multiple to the 10-day and 20-day Average Daily Traded Value of the Company's ordinary shares.
c) maximum amount deposited and outstanding being not greater than £1 million prior to the deposit.
The trouble is, the more I read these conditions the more I am confused as to what they actually mean. Is there a difference between amount deposited and amount drawn? I can't think what it is.
Could RF have been allotted more shares for the first or second deposits without us getting an RNS? If not, I can't see how the existing deposits can be under £1m outstanding?
Anyone got any answers??
200K + Pension (TM) and 92K (3 days per week) (Parker) ; So in effect TM+SP+JR taking £500K per year out of the RF Funding ... so it was arranged for trials and salary coverage
As CASH is very TIGHT I would like to see some offer of Partial SALARY DEFERRALS in favour of shares to help support the cash runway rather than their bank balances whilst times are hard and tricky with this funding choice disaster .. dont see why they should not feel some of the pain we are feeling, especially as we are ploughing our money in to support the company whilst they have no need to buy shares when they can live off of their options
Graking. They draw £200k per year salaries so don’t worry about their kids starving or having to go to a food bank. 🙄
Hopefully they make some charitable giving from these very comfortable incomes. ☺️🤞
Should such an action not have been RNSd? Though no DD on the market the company should have been authorised by us shareholders in general. Not sure if we have agreed.