MEI Pharma(US:MEIP)2025-02-12 21:05Financial Position - As of December 31, 2024, MEI Pharma had $23.7 million in cash and cash equivalents with no outstanding debt[5]. - The total stockholders' equity as of December 31, 2024, was $22.1 million, down from $33.0 million as of June 30, 2024[10]. Revenue and Expenses - For the six months ended December 31, 2024, the company reported total revenues of $0, compared to $65.3 million for the same period in 2023[11]. - Total operating expenses for the six months ended December 31, 2024, were $21.9 million, a decrease from $43.4 million for the same period in 2023[11]. - The net loss for the three months ended December 31, 2024, was $2.7 million, compared to a net loss of $11.1 million for the same period in 2023[11]. - The weighted-average shares used in computing net loss per share for the three months ended December 31, 2024, were 6.663 million[11]. Strategic Direction - The company is currently evaluating strategic alternatives, including out-licensing and merger opportunities, to maximize asset value for stockholders[2]. - Cash preservation efforts have been initiated, including a reduction-in-force, as the company's operational and strategic direction evolves[3]. - The company does not expect to disclose further developments regarding strategic alternatives until the evaluation process is completed[4]. Drug Development - MEI Pharma's drug candidate pipeline includes voruciclib, an oral cyclin-dependent kinase 9 inhibitor, aimed at providing novel cancer therapies[6].