MEI Pharma (MEIP) has issued an announcement.
MEI Pharma, Inc. is exploring strategic alternatives to enhance shareholder value, which may include a sale or an orderly wind-down. As part of cost-saving measures, the company will start laying off employees and discontinue the clinical development of a drug candidate, voruciclib, while still pursuing some non-clinical activities. President and CEO David M. Urso and Chief Medical Officer Richard G. Ghalie are set to leave, with severance agreements in place, and the Board has appointed Justin J. File as Acting CEO. This shake-up, including a board chairperson change, is part of MEI Pharma’s significant strategic and operational restructuring.
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