MEI Pharma (MEIP) has shared an announcement.
MEI Pharma, Inc. is exploring strategic alternatives to enhance shareholder value, including potential transactions or an orderly company wind-down. Amid these changes, President and CEO David M. Urso, along with Chief Medical Officer Richard G. Ghalie, M.D., will depart but will receive severance and benefits, including COBRA coverage and accelerated stock option vesting. Both executives will also serve as consultants, aiding in asset liquidation, with hourly compensation and potential success fees tied to asset sales. Justin J. File has been appointed Acting CEO with an updated compensation package, including an increased base salary and bonus opportunity, plus a success fee based on future cash balances.
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