MEI Pharma (NASDAQ:MEIP) Stock

MEI Pharma

MEI Pharma Inc is focused on the clinical development of novel therapies for cancer. The company's clinical drug candidate includes Pracinostat, an orally available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome. Its clinical development portfolio also includes Zandelisib, an oral inhibitor of phosphatidylinositide 3-kinase delta for the treatment of patients with recurrent chronic lymphocytic leukemia or follicular non-Hodgkin's lymphoma; and ME-344, an isoflavone-based mitochondrial inhibitor for the treatment of HER2-negative breast cancer and Pracinostat, an oral histone deacetylase inhibitor. Geographically, all the business activities function through the region of the United States.

MEI Pharma Inc

MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) stock is trading higher on Friday, with a session volume of 35.64 million compared to the average volume of 29.8K, <a href="https://www.benzinga.com/pro/feature/newsfeed" target="_blank" rel="noreferrer noopener">as per data from Benzinga Pro</a>.
The company on Friday entered into a private investment in public equity (PIPE) for the purchase and sale of 29.2 million shares $3.42 per share, for expected aggregate gross proceeds of <a target="_blank" href="https://www.benzinga.com/pressreleases/25/07/b46490326/mei-pharma-announces-100-000-000-private-placement-to-initiate-litecoin-treasury-strategy-becoming" rel="noreferrer noopener">approximately $100 million</a>.
In connection with the closing of the transaction, MEI will appoint Charlie Lee to its board of directors. Current member Taheer Datoo will resign, and GSR will serve as its digital asset and treasury management advisor to oversee the implementation of its Litecoin Treasury Strategy.
Charlie Lee and GSR acted as lead investors, alongside participation from the Litecoin Foundation, crypto venture capital firms, and infrastructure providers.
The transaction marks a significant milestone in MEI&#8217;s long-term strategic plan.
It establishes MEI as the first and only publicly traded company to adopt Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) as a treasury reserve asset. Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee in October 2011.
Due to its similarities to Bitcoin, Litecoin is often referred to as the &#8220;silver to Bitcoin&#8217;s gold.&#8221;
As one of the longest-running blockchains with 100% uptime since its inception, Litecoin has demonstrated a proven track record of growth and reliability with significant enterprise-grade use cases. By integrating Litecoin into its treasury operations, MEI gains access to a decentralized monetary asset that complements its cash management framework.
MEIP Price Action: MEI Pharma stock is up 31.54% at $5.92 at the last check on Friday.
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Why Is MEI Pharma Stock Soaring On Friday?

<h3>Gainers</h3>
<ul>
<li>Telomir Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELO#NASDAQ">TELO</a>) shares rose 90.1% to $2.3 during Friday's regular session. The company's market cap stands at $36.0 million. </li>
<li>Cyclacel Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYCC#NASDAQ">CYCC</a>) stock moved upwards by 63.18% to $13.43. The market value of their outstanding shares is at $13.0 million. </li>
<li>Wellgistics Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGRX#NASDAQ">WGRX</a>) stock increased by 40.21% to $1.29. The company's market cap stands at $66.1 million. </li>
<li>Mesoblast (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>) shares increased by 27.67% to $15.76. The company's market cap stands at $1.5 billion. </li>
<li>MEI Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) shares rose 24.01% to $5.58. The company's market cap stands at $29.9 million. </li>
<li>Neumora Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMRA#NASDAQ">NMRA</a>) shares rose 18.42% to $2.02. The market value of their outstanding shares is at $276.5 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Sarepta Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) shares fell 35.5% to $14.17 during Friday's regular session. The market value of their outstanding shares is at $2.1 billion. </li>
<li>Clearside Biomedical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSD#NASDAQ">CLSD</a>) shares fell 25.4% to $0.45. The market value of their outstanding shares is at $46.7 million. </li>
<li>Sonnet BioTherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONN#NASDAQ">SONN</a>) stock fell 21.06% to $6.15. The market value of their outstanding shares is at $24.6 million. </li>
<li>Hyperion DeFi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYPD#NASDAQ">HYPD</a>) stock fell 20.15% to $12.66. The company's market cap stands at $80.9 million. </li>
<li>Redhill Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDHL#NASDAQ">RDHL</a>) shares fell 19.43% to $1.95. The company's market cap stands at $5.5 million. </li>
<li>Longevity Health Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XAGE#NASDAQ">XAGE</a>) stock fell 16.67% to $3.6. The company's market cap stands at $6.4 million. 
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</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Health Care Stocks Moving In Friday's Intraday Session

U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 200 points on Friday.
The Dow traded down 0.55% to 44,240.83 while the NASDAQ fell 0.11% to 20,863.57. The S&amp;P 500 also fell, dropping, 0.14% to 6,288.48.
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Leading and Lagging Sectors Utilities shares jumped by 1.9% on Friday.
In trading on Friday, communication services stocks dipped by 0.9%.
Top Headline
3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) reported better-than-expected second-quarter 2025 results and raised its full-year guidance.
The company posted GAAP sales of $6.3 billion, up 1.4% year over year. Adjusted sales came in at $6.2 billion, reflecting 1.5% organic growth and beating the consensus estimate of $6.09 billion. Adjusted earnings per share rose 12% year over year to $2.16, topping the Street estimate of $2.01.
3M now sees 2025 Adjusted EPS of $7.75-$8.0 (prior $7.60-$7.90) versus the consensus of $7.68, includes the impact from tariffs. 3M expects 2025 adjusted sales organic growth of ~2% (prior lower end of 2% to 3%), and operating cash flow of $5.1–$5.5 billion with &gt;100% free cash flow conversion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul class="wp-block-list">
<li>Telomir Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELO#NASDAQ">TELO</a>) shares shot up 81% to $2.19 after the company announced data for its gene silencing of STAT1.</li>
<li>Shares of MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) got a boost, surging 33% to $5.99 after the company announced a $100 million private placement, with plans to use the proceeds to launch a Litecoin treasury strategy.</li>
<li>Blaize Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZAI#NASDAQ">BZAI</a>) shares were also up, gaining 45% to $4.39 after announcing a $120 million agreement to deploy its hybrid AI platform in collaboration with Starshine.</li>
</ul>
Equities Trading DOWN
<ul class="wp-block-list">
<li>LQR House Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YHC#NASDAQ">YHC</a>) shares dropped 65% to $2.29 after the company announced plans to integrate cryptocurrency and blockchain technology into its business model.</li>
<li>Shares of Northern Dynasty Minerals Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NAK#NYSE">NAK</a>) were down 48% to $0.8398 after insider trading disclosures revealed share sales by key executives. The selloff erased gains following the July 4 announcement that the company is in talks to potentially resolve a legal standoff with the Environmental Protection Agency (EPA) over the copper-gold-molybdenum Pebble project.</li>
<li>Draganfly Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPRO#NASDAQ">DPRO</a>) was down, falling 23% to $5.55 after the company announced the pricing of $25.0 million registered direct offering.</li>
</ul>
Commodities In commodity news, oil traded up 1.1% to $68.28 while gold traded up 0.5% at $3,362.20.
Silver traded up 0.8% to $38.605 on Friday, while copper rose 1.1% to $5.5730.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 gained 0.02%, while Spain's IBEX 35 Index slipped 0.01%. London's FTSE 100 rose 0.08%, Germany's DAX 40 slipped 0.16% and France's CAC 40 gained 0.10% during the session.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei falling 0.21%, Hong Kong's Hang Seng gaining 1.33%, China's Shanghai Composite gaining 0.50% and India's BSE Sensex falling 0.61%.
Economics
<ul class="wp-block-list">
<li>U.S. housing starts climbed by 4.6% from the previous month to an annualized rate of 1.321 million in June.</li>
<li>Building permits in the U.S. rose by 0.2% to an annualized rate of 1.397 million in June.</li>
</ul>
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MEI Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) has launched a $100 million Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) treasury program, backed by Titan Partners Group and <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46491139/donald-trump-jr-backed-thumzup-media-approves-250m-in-bitcoin-ethereum-xrp-sol-dogecoin-treasury-purchases">crypto investment firm GSR</a>.
The move includes the <a href="https://x.com/LTCFoundation/status/1946191121065164991">appointment</a> of Charlie Lee, the creator of Litecoin, to MEI's Board of Directors.
The Litecoin Foundation has also taken an investment position in MEI as part of the initiative.
The company's stock rose sharply from $4.20 to $11.45 following the announcement, before retracing to $6.00, reflecting market volatility after a significant change in strategic direction.
"For 14 years, Litecoin has consistently delivered a stable, low-cost, and accessible network for millions," said Lee. "This partnership with GSR and MEI Pharma brings that utility and mission into an institutional setting for the first time."
MEI joins a growing number of public companies allocating capital to cryptocurrencies as part of their treasury management. 
Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46494778/67m-for-more-eth-bit-digital-expands-its-ethereum-treasury-beyond-120000-coins">$67M For More ETH: Bit Digital Expands Its Ethereum Treasury Beyond 120,000 Coins</a>
Notable corporate treasury allocations in crypto:
<ul class="wp-block-list">
<li>Strategy began purchasing Bitcoin in August 2020, making it the largest public corporate holder of Bitcoin.</li>
<li>Tesla disclosed a $1.5 billion Bitcoin investment in early 2021, and though it later sold portions, it retained part of its BTC holdings on the balance sheet as of 2024 filings.</li>
<li>Bit Digital revealed in July 2025 that it had expanded its Ethereum holdings to over 120,000 ETH, part of a strategy that includes staking and validator operations.</li>
</ul>
MEI's Litecoin strategy is notable in that it centers entirely on LTC rather than Bitcoin or Ethereum. 
Litecoin, launched in 2011, is often used in payment applications and is supported by processors such as BitPay. 
As of today, MEI Pharma becomes the most prominent U.S.-listed company to formally allocate a nine-figure treasury position solely in Litecoin.
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Image: Shutterstock

First Strategy, Now MEI Pharma: Litecoin Joins Bitcoin As Treasury Asset

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining more than 50 points on Friday.
Following the market opening Friday, the Dow traded down 0.11% to 44,435.25 while the NASDAQ rose 0.37% to 20,962.60. The S&amp;P 500 also rose, gaining, 0.17% to 6,308.01.
Check This Out: <a href="https://www.benzinga.com/analyst-stock-ratings/upgrades/25/07/46489333/this-chipotle-analyst-turns-bullish-here-are-top-4-upgrades-for-friday">This Chipotle Analyst Turns Bullish; Here Are Top 4 Upgrades For Friday</a>
Leading and Lagging Sectors Utilities shares jumped by 0.9% on Friday.
In trading on Friday, communication services stocks dipped by 0.3%.
Top Headline
American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) reported fiscal second-quarter 2025 results on Friday, surpassing analyst estimates for both revenue and adjusted earnings per share.
The company reported quarterly revenue (net of interest expense) growth of 9% year-over-year to $17.86 billion, topping the analyst consensus estimate of $17.71 billion. Adjusted EPS also exceeded projections, coming in at $4.08 against an analyst consensus of $3.87.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul class="wp-block-list">
<li>Telomir Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELO#NASDAQ">TELO</a>) shares shot up 143% to $2.9399 after the company announced data for its gene silencing of STAT1.</li>
<li>Shares of MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) got a boost, surging 63% to $7.34 after the company announced a $100 million private placement, with plans to use the proceeds to launch a Litecoin treasury strategy.</li>
<li>Blaize Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZAI#NASDAQ">BZAI</a>) shares were also up, gaining 59% to $4.8201 after announcing a $120 million agreement to deploy its hybrid AI platform in collaboration with Starshine.</li>
</ul>
Equities Trading DOWN
<ul class="wp-block-list">
<li>LQR House Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YHC#NASDAQ">YHC</a>) shares dropped 62% to $2.51 after the company announced plans to integrate cryptocurrency and blockchain technology into its business model.</li>
<li>Shares of Northern Dynasty Minerals Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NAK#NYSE">NAK</a>) were down 45% to $0.90 after insider trading disclosures revealed share sales by key executives. The selloff erased gains following the July 4 announcement that the company is in talks to potentially resolve a legal standoff with the Environmental Protection Agency (EPA) over the copper-gold-molybdenum Pebble project.</li>
<li>Draganfly Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPRO#NASDAQ">DPRO</a>) was down, falling 26% to $5.34 after the company announced the pricing of $25.0 million registered direct offering.</li>
</ul>
Commodities In commodity news, oil traded up 1.2% to $68.35 while gold traded up 0.5% at $3,361.80.
Silver traded up 0.7% to $38.58 on Friday, while copper rose 0.7% to $5.5485.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 climbed 0.2%, while Spain's IBEX 35 Index rose 0.1%. London's FTSE 100 rose 0.2%, Germany's DAX 40 slipped 0.1% and France's CAC 40 gained 0.2% during the session.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei falling 0.21%, Hong Kong's Hang Seng gaining 1.33%, China's Shanghai Composite gaining 0.50% and India's BSE Sensex falling 0.61%.
Economics
<ul class="wp-block-list">
<li>U.S. housing starts climbed by 4.6% from the previous month to an annualized rate of 1.321 million in June.</li>
<li>Building permits in the U.S. rose by 0.2% to an annualized rate of 1.397 million in June.</li>
</ul>
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US Stocks Mixed; American Express Posts Upbeat Q2 Results

WIIM

MEI Pharma shares are trading higher after the company announced a $100 million private placement, with plans to use the proceeds to launch a Litecoin treasury strategy.

MEI Pharma Announces $100M Private Placement, Will Use Proceeds To Launch Litecoin Treasury Strategy

<h3>Gainers</h3>
<ul>
<li>Windtree Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WINT#NASDAQ">WINT</a>) shares increased by 56.7% to $1.41 during Thursday's pre-market session. The market value of their outstanding shares is at $8.3 million. </li>
<li>Sarepta Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) stock rose 29.81% to $23.86. The market value of their outstanding shares is at $1.8 billion. </li>
<li>Liminatus Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIMN#NASDAQ">LIMN</a>) shares increased by 14.81% to $6.2. The company's market cap stands at $140.4 million. </li>
<li>Marker Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRKR#NASDAQ">MRKR</a>) stock increased by 13.12% to $1.81. The company's market cap stands at $17.1 million. </li>
<li>Rocket Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCKT#NASDAQ">RCKT</a>) shares increased by 9.79% to $3.14. The market value of their outstanding shares is at $308.1 million. </li>
<li>Harvard Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBIO#NASDAQ">HBIO</a>) stock rose 8.64% to $0.44. The company's market cap stands at $17.9 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>MEI Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) shares decreased by 17.4% to $3.19 during Thursday's pre-market session. The market value of their outstanding shares is at $25.7 million. </li>
<li>OKYO Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKYO#NASDAQ">OKYO</a>) shares decreased by 11.49% to $2.62. The company's market cap stands at $110.7 million. </li>
<li>Nuwellis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) stock declined by 10.98% to $14.2. The company's market cap stands at $69.7 million. </li>
<li>Aptorum Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APM#NASDAQ">APM</a>) stock fell 10.83% to $1.73. The market value of their outstanding shares is at $13.8 million. </li>
<li>Jade Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBIO#NASDAQ">JBIO</a>) shares fell 9.2% to $8.0. The market value of their outstanding shares is at $463.4 million. </li>
<li>Kairos Pharma (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/KAPA#AMEX">KAPA</a>) stock decreased by 8.23% to $1.0. The company's market cap stands at $18.3 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Health Care Stocks Moving In Thursday's Pre-Market Session

<h3>Gainers</h3>
<ul>
<li>Artelo Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARTL#NASDAQ">ARTL</a>) stock moved upwards by 165.2% to $18.01 during Monday's pre-market session. The company's market cap stands at $3.7 million. </li>
<li>Klotho Neurosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLTO#NASDAQ">KLTO</a>) shares rose 41.64% to $1.02. The company's market cap stands at $26.2 million. </li>
<li>Venus Concept (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) stock rose 25.68% to $2.74. The market value of their outstanding shares is at $4.0 million. </li>
<li>Inhibikase Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IKT#NASDAQ">IKT</a>) shares increased by 22.68% to $1.99. The market value of their outstanding shares is at $120.4 million. </li>
<li>Liminatus Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIMN#NASDAQ">LIMN</a>) stock moved upwards by 22.04% to $11.57. The market value of their outstanding shares is at $246.6 million. </li>
<li>Q32 Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTTB#NASDAQ">QTTB</a>) shares rose 14.48% to $1.66. The market value of their outstanding shares is at $17.6 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>INmune Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INMB#NASDAQ">INMB</a>) shares fell 57.4% to $2.27 during Monday's pre-market session. The market value of their outstanding shares is at $124.6 million. </li>
<li>Sera Prognostics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERA#NASDAQ">SERA</a>) shares fell 31.06% to $2.82. The market value of their outstanding shares is at $154.0 million. </li>
<li>Autonomix Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMIX#NASDAQ">AMIX</a>) stock declined by 20.4% to $1.6. The market value of their outstanding shares is at $5.5 million. </li>
<li>Odysight ai (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODYS#NASDAQ">ODYS</a>) shares decreased by 20.12% to $5.6. The market value of their outstanding shares is at $114.3 million. </li>
<li>Unicycive Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNCY#NASDAQ">UNCY</a>) stock declined by 16.92% to $5.65. The company's market cap stands at $82.0 million. </li>
<li>MEI Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) shares decreased by 16.08% to $2.35. The market value of their outstanding shares is at $18.6 million. 
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</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Health Care Stocks Moving In Monday's Pre-Market Session

MEI Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) reported quarterly losses of $(0.39) per share. This is a 71.53 percent increase over losses of $(1.37) per share from the same period last year.

MEI Pharma Q3 GAAP EPS $(0.39) Up From $(1.37) YoY

MEI Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) reported quarterly losses of $(0.40) per share. This is a 75.9 percent increase over losses of $(1.66) per share from the same period last year.

MEI Pharma Q2 EPS $(0.40) Up From $(1.66) YoY

<h3 class="wp-block-heading">New On The Block</h3>
<ul>
<li>Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) is looking to sell a stake in its Chinese operations. Same-store sales in China fell 14% last quarter, with the Seattle-based coffee retailer seeking partnerships to adapt to tough <a href="https://www.benzinga.com/news/asset-sales/24/11/42117962/starbucks-eyes-stake-sale-in-china-amid-fierce-competition-and-falling-sales">economic and competitive pressures</a>.</li>
</ul>
<h3 class="wp-block-heading">Bankruptcy Block</h3>
<ul>
<li>Snack producer Hearthside Food Solutions went bankrupt. The private equity-owned company looks to offload the $1.9 billion in debt accumulated under the ownership of Partners Group Holding AG and Charlesbank Capital Partners. The two firms bought Hearthside for more than $2.4 billion. Assets and liabilities hover between $1 billion and $10 billion. Last year, bankrupt private equity portfolio companies in the U.S. <a href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/private-equity-portfolio-companies-on-track-for-most-bankruptcies-since-2020-74886821">outpaced</a> the number of <a href="https://www.benzinga.com/news/20/10/17861269/bankruptcy-update-ruby-tuesday-files-chapter-11-while-progress-slows-for-jcpenney">bankruptcies in 2020</a>. It remains to be seen whether 2024 will be worse.</li>
</ul>
<ul>
<li>Northvolt <a href="https://northvolt.com/articles/peter-carlsson-steps-aside/">filed</a> for bankruptcy with debt of $5.8 billion. Recall how the Swedish battery maker, which supplies Volkswagen AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) and&nbsp;Bayerische Motoren Werke AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), bargained with banks to <a href="https://www.benzinga.com/news/23/03/31506581/volkswagen-bmw-battery-supplier-northvolt-eyes-raising-5b-via-debt">raise debt last year</a>. Now, it&#8217;s hoping to restructure under U.S. Chapter 11.</li>
</ul>
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42024210/benzinga-bulls-and-bears-tesla-disney-gold-and-hedge-funds-project-bitcoin-to-hit-100k-150k">Benzinga Bulls And Bears: Tesla, Disney, Gold — And Hedge Funds Project Bitcoin To Hit $100K-$150K</a>
<h3 class="wp-block-heading">Updates From The Block</h3>
<ul>
<li>Google&#8216;s $2-billion <a href="https://www.benzinga.com/news/large-cap/23/10/35474706/googles-ai-ambitions-grow-with-major-investment-in-openai-rival-anthropic">investment</a> in Anthropic is in jeopardy, according to <a href="https://www.bloomberg.com/news/articles/2024-11-21/us-justice-department-seeks-to-unwind-google-s-anthropic-deal">Bloomberg</a>. Anthropic is a Jeff Bezos-backed rival to artificial intelligence (AI) innovator OpenAI. The U.S. Department of Justice (DOJ) recommended in <a href="https://www.benzinga.com/tech/24/11/42105079/googles-unlawful-behavior-stifles-market-entry-for-rivals-doj-says-alphabet-must-sell-chrome-to-end-search-monopoly">a court filing Wednesday</a> that Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google divest its Chrome browser to dismantle its monopoly on online search. It doesn&#8217;t end there. Google should be barred from doing any deals with companies that control where consumers search for information, regulators say. <a href="https://www.benzinga.com/tech/24/11/42123646/google-anthropic-deal-in-jeopardy-as-us-justice-department-looks-to-snap-online-search-monopoly">That includes AI products</a>.</li>
</ul>
<ul>
<li>Ricky Williams&#8216; Highsman merges with hemp brand Frozen Fields, forming Top Seed Inc. The partnership blends cannabis and hemp sectors, leveraging R&amp;D to enhance products <a href="https://www.benzinga.com/markets/cannabis/24/11/42097662/ricky-williams-highsman-merges-with-hemp-brand-frozen-fields">and control supply chains</a>.</li>
</ul>
<ul>
<li>MakeMyTrip acquires Happay from CRED. The deal is expected to enhance corporate travel and expense management solutions in India. Happay&#8217;s team will integrate with MakeMyTrip, supporting <a href="https://www.benzinga.com/general/travel/24/11/42039458/makemytrip-agrees-to-acquire-happay-bolstering-its-arsenal-for-corporate-travel-solutions">over 900 clients post-acquisition</a>.</li>
</ul>
<ul>
<li>Amcor plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>) and Berry Global Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) agreed to merge in an all-stock transaction, with the deal valuing Berry stock <a href="https://www.benzinga.com/news/large-cap/24/11/42069248/amcor-and-berry-seal-the-deal-73-59-per-share-merger-to-forge-packaging-powerhouse">at $73.59 per share</a>.</li>
</ul>
<ul>
<li>Nippon Steel (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NISTF#OTC">NISTF</a>) executives have traveled to Pennsylvania to garner support for their $15 billion acquisition bid for U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>). The Japanese steel giant is encountering political resistance in Washington. Takahiro Mori, vice-chair of Nippon Steel, arrived in Pittsburgh on Saturday to advocate for the acquisition. The deal faces opposition from both President Joe Biden and President-elect Donald Trump, who prefer U.S. Steel to <a href="https://www.benzinga.com/markets/24/11/42056111/nippon-steel-execs-rally-support-in-pennsylvania-amid-pushback-on-us-steel-takeover">remain under American ownership</a>.</li>
</ul>
<h3 class="wp-block-heading">Notes From The Block</h3>
Joshua Robinson, co-founder of Darwin Financial Company, announced a $55-million financing deal with INYOAG LLC. The funds will help develop a solar-powered mine in Inyo County, California where there are proven reserves of silver, lead, zinc, tungsten, and copper. Here&#8217;s our conversation with Robinson:
<h4 class="wp-block-heading">BZ: What is the deal structure between Darwin Financial and base metals miner INYOAG? </h4>
Robinson: The deal structure is a $55M project financing package split into three components: $17.5 million and $12.5 million in six-year notes tied to sulfide and oxide production respectively, plus a $20-million conditional equity commitment that only triggers if the mine hits $10 million in monthly revenue. We get 17% of gross revenues from both production tracks, structured through secure lockbox arrangements. It&#8217;s not a straight equity investment, we specifically designed it this way to provide further upside exposure.
<h4 class="wp-block-heading">Are you looking for additional investors/joint venture partners? </h4>
Yes, we&#8217;ve deliberately structured this to create multiple layers of upside potential, which is pretty unique in the mining space. We&#8217;ve created a hybrid model that offers both near-term cash flow from production and significant expansion potential. We&#8217;re already seeing interest from established mining players, but we&#8217;re particularly excited about bringing new investors into the space who understand the strategic value of critical minerals.
<h4 class="wp-block-heading">What are the downsides to depending on foreign sources of critical minerals?</h4>
China&#8217;s recent actions really highlight the urgency here. They&#8217;ve already implemented export controls on germanium and gallium, and just added antimony to that list. This isn&#8217;t theoretical anymore, it&#8217;s actively happening. We need to build regional resilience in our supply chains, particularly for these minerals that are crucial for defense and technology. The Darwin Mine gives us a unique opportunity to establish a domestic source for multiple critical minerals in a single asset, which is rare to find.
<h4 class="wp-block-heading">Will the mine be powered by solar? </h4>
The 100MW facility wouldn&#8217;t just power the mine. It would generate significant excess clean energy that we can sell back to the grid. What&#8217;s particularly interesting is that we can develop utility-scale energy storage systems using minerals we&#8217;re already producing. It creates a virtuous cycle where our mining operations directly support clean energy deployment
<h4 class="wp-block-heading">What are your 2025 goals?</h4>
For 2025, our key goals are reaching 300 tons per day on sulfide production within six months and 200 tons per day on oxide within nine months of funding. That puts us at $ 10 million in monthly revenue, which then triggers the deeper mine development program.
For last week&#8217;s Deal Dispatch, <a href="https://www.benzinga.com/ma/24/11/42025534/deal-dispatch-shell-unilever-and-more-are-on-the-sell-side-the-onion-makes-alex-jones-cry-foul">click here</a>.
Now Read: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41699259/nvidia-rides-ai-wave-to-replace-intel-on-dow-jones-industrial-average-ending-its-25-year-run">Nvidia Rides AI Wave To Replace Intel On Dow Jones Industrial Average, Ending Its 25-Year Run</a></li>
</ul>
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Deal Dispatch: Starbucks Considers China Sale, Private Equity Bankrupts Snack Company, Darwin Financial Talks Mining

<h3 class="wp-block-heading">New On The Block</h3>
Evolent Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVH#NYSE">EVH</a>) is <a href="https://www.benzinga.com/m-a/24/08/40529349/evolent-health-explores-sale-garners-inbound-interest-from-private-equity-firms">reportedly up for sale</a>. The Arlington, Virginia-based software provide initiated an auction process after receiving takeover inquiries. Among the potential suitors are TPG Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), Clayton, Dubilier &amp; Rice, and KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>). Reuters reported that health insurer Elevance Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) may join forces with a private equity partner to pursue a deal.
Kronos Bio Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRON#NASDAQ">KRON</a>), a company focused on developing therapies for cancer, is exploring &#8220;strategic alternatives,&#8221; including an acquisition or merger.The San Mateo, Califonia-based company reported $124.9 million in cash reserves as of Sept. 30. 
Saint-Gobain (PARIS:<a class="ticker" href="https://www.benzinga.com/stock/SGO#PARIS">SGO</a>) is considering a sale of its auto glass unit, which could fetch up to 2.5 billion euro ($2.6 billion), per <a href="https://www.bloomberg.com/news/articles/2024-11-13/st-gobain-is-said-to-weigh-2-5-billion-sale-of-auto-glass-unit">Bloomberg</a>. The company is reportedly considering this strategic move as part of its broader business evaluation. This sale aligns with Saint-Gobain&#8217;s efforts to streamline its operations and focus on core business areas.
Shell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) is seeking to <a href="https://www.bloomberg.com/news/articles/2024-11-13/shell-aims-to-sell-majority-stake-in-carbon-offsets-business?srnd=phx-deals">jettison</a> a majority of its carbon offsets portfolio. The company first launched the portfolio of offsets, which covers dozens of projects, <a href="https://www.bloomberg.com/news/features/2023-08-31/shell-silently-abandoned-its-100-million-a-year-plan-to-offset-co2-emissions" target="_blank" rel="noreferrer noopener">in 2018</a>. 
Unilever (LSE: ULVR) is exploring the sale of some Dutch food brands, including Unox soups and Conimex seasonings. According to Reuters, the company will instead focus on its biggest &#8220;power&#8221; labels.
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42024210/benzinga-bulls-and-bears-tesla-disney-gold-and-hedge-funds-project-bitcoin-to-hit-100k-150k">Benzinga Bulls And Bears: Tesla, Disney, Gold — And Hedge Funds Project Bitcoin To Hit $100K-$150K</a>
<h3 class="wp-block-heading">Bankruptcy Block</h3>
Alex Jones&#8217;s media company, Infowars, is now the property of satirical publication The Onion. The publication&#8217;s backers were none other than the families <a href="https://www.benzinga.com/media/24/11/41982446/jokes-on-jones-onion-backed-by-families-of-sandy-hook-victims-buys-info-wars">of Sandy Hook victims</a>. Observers praised the deal as poetic justice, considering Jones owes over $1 billion in defamation judgments against those families. Jones, who <a href="https://www.benzinga.com/news/23/12/36168941/elon-musks-controversial-move-alex-jones-returns-to-x-after-user-vote">has garnered sympathy from</a> right-wing personalities like Elon Musk and Tucker Carlson, confirmed the acquisition in a visibly distressed social media video, blaming &#8220;Democrats.&#8221;
Diamond Sports Group&#8216;s restructuring will include reducing its debt from nearly $9 billion to $200 million, <a href="https://www.espn.com/mlb/story/_/id/42388454/diamond-sports-group-emerges-bankruptcy">ESPN</a> reports. The restructuring plan received what Diamond categorized as &#8220;nearly unanimous support&#8221; from debt holders. Diamond, currently possessing $100 million in liquidity, will emerge from bankruptcy and operate as a stand-alone entity. Sinclair, the parent company, took on $8 billion in debt to buy regional channels from Fox for $10.6 billion in 2019. That debt contributed to Diamond&#8217;s bankruptcy.
<h3 class="wp-block-heading">Updates From The Block</h3>
Currently, there are no concrete indications that Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) is actively pursuing a sale. Recent speculation regarding Humana being acquired by Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) was definitively addressed, with Cigna explicitly stating that it is <a href="https://www.benzinga.com/general/health-care/24/11/41877573/cigna-not-pursuing-humana-merger-stock-soars">not pursuing a merger</a> with Humana at this time. This clarification came after rumors reignited post-election, driven by the potential for more lenient antitrust reviews under the new <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">Republican administration and Congress</a>.
Spirit Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) is no longer in deal talks with Frontier Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>). It&#8217;s now in advanced discussions with bondholders to finalize a bankruptcy plan. The carrier continues to struggle with mounting losses and looming debt maturities. A bankruptcy filing is expected to happen within weeks, according to <a href="https://www.benzinga.com/news/earnings/24/11/41932146/spirit-airlines-nears-bankruptcy-creditors-may-approve-equity-cancellation-heres-what-it-means-for-investors-as-shares-fall-with-a-thud">the Wall Street Journal</a>.
MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) continues to explore M&amp;A opportunities, hiring Oppenheimer &amp; Co., Inc. as an exclusive financial advisor to assist the process. During the first quarter of fiscal year 2025, the company commenced cash preservation efforts that include a reduction-in-force, which will continue in stages as the Company's operational and strategic direction evolves.
<h3 class="wp-block-heading">Notes From The Block</h3>
Wall Street anticipates a surge in M&amp;A as Republicans take control of Congress and deregulate. Analysts expect Federal Trade Commission Chair Lina Khan's removal, which could ease antitrust scrutiny. Bank of America highlights that Republican administrations, like President-elect Donald Trump&#8216;s, historically foster over 50% more financial sector M&amp;A activity compared to Democratic ones. 
Bank of America also predicts that 2025 could mark a better year for M&amp;A as rate cuts take effect and economic conditions stabilize. Here&#8217;s a list of five potential targets the bank compiled. For the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">full list, click here</a>.
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Sector</th>
<th>Market Cap ($M)</th>
<th>Free Cash Flows-to-Enterprise Value (%)</th>
<th>Long-Term Growth Expectations (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Universal Health Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>)</td>
<td>Health Care</td>
<td>13,932</td>
<td>4.4</td>
<td>25.3</td>
</tr>
<tr>
<td>Ralph LaurenCorp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>)</td>
<td>Consumer Disc.</td>
<td>12,473</td>
<td>5.99</td>
<td>10.5</td>
</tr>
<tr>
<td>Paramount Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NYSE">PARA</a>)</td>
<td>Comm. Services</td>
<td>7,250</td>
<td>3.4</td>
<td>46.4</td>
</tr>
<tr>
<td>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>)</td>
<td>Technology</td>
<td>14,480</td>
<td>6.39</td>
<td>12.7</td>
</tr>
<tr>
<td>Hasbro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>)</td>
<td>Consumer Disc.</td>
<td>9,215</td>
<td>3.6</td>
<td>27.5</td>
</tr>
</tbody>
</table>
</figure>
For last week&#8217;s Deal Dispatch, <a href="https://www.benzinga.com/news/asset-sales/24/11/41866114/deal-dispatch-prison-companies-in-focus-post-election-tripadvisor-boasts-11b-in-cash">click here</a>.
Now Read: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41699259/nvidia-rides-ai-wave-to-replace-intel-on-dow-jones-industrial-average-ending-its-25-year-run">Nvidia Rides AI Wave To Replace Intel On Dow Jones Industrial Average, Ending Its 25-Year Run</a></li>
</ul>

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Deal Dispatch: Shell, Unilever And More Are On The Sell Side; The Onion Makes Alex Jones Cry Foul

MEI Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) reported quarterly losses of $(1.20) per share. This is a 114.18 percent decrease over earnings of $8.46 per share from the same period last year.

MEI Pharma Q1 EPS $(1.20) Down From $8.46 YoY

<h3>Gainers</h3>
<ul>
<li>Healthcare Triangle (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCTI#NASDAQ">HCTI</a>) shares moved upwards by 62.3% to $0.94 during Friday's after-market session. The company's market cap stands at $5.3 million. </li>
<li>Mira Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRA#NASDAQ">MIRA</a>) shares rose 23.25% to $1.59. The market value of their outstanding shares is at $23.5 million. </li>
<li>MEI Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) shares rose 22.54% to $3.37. The market value of their outstanding shares is at $22.4 million. </li>
<li>TuHURA Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HURA#NASDAQ">HURA</a>) shares moved upwards by 16.05% to $5.35. The market value of their outstanding shares is at $224.6 million. </li>
<li>P3 Health Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIII#NASDAQ">PIII</a>) stock increased by 15.24% to $0.47. The market value of their outstanding shares is at $75.7 million. </li>
<li>OKYO Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKYO#NASDAQ">OKYO</a>) stock rose 9.52% to $1.38. The market value of their outstanding shares is at $46.6 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Aclaris Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACRS#NASDAQ">ACRS</a>) shares declined by 9.5% to $1.53 during Friday's after-market session. The market value of their outstanding shares is at $109.1 million. </li>
<li>Beyond Air (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XAIR#NASDAQ">XAIR</a>) stock declined by 6.95% to $0.37. The company's market cap stands at $26.7 million. </li>
<li>Qualigen Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLGN#NASDAQ">QLGN</a>) stock decreased by 6.92% to $0.11. The company's market cap stands at $3.0 million. </li>
<li>Nuwellis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) stock fell 6.92% to $1.73. The market value of their outstanding shares is at $3.2 million. </li>
<li>Compass Pathways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>) stock fell 6.69% to $5.86. The market value of their outstanding shares is at $400.7 million. </li>
<li>Helius Medical Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSDT#NASDAQ">HSDT</a>) stock fell 6.44% to $0.46. The market value of their outstanding shares is at $1.6 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Health Care Stocks Moving In Friday's After-Market Session

Confirms Continuation of Evaluation of Strategic Alternatives
MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) (the "Company") today reported results for its fiscal year ended June 30, 2024.
Previously on July 22, 2024, the Company announced the commencement of an evaluation of strategic alternatives with the goal of maximizing the value of its assets for its stockholders. Subsequent to that date, the Company announced the engagement of Oppenheimer &amp; Co., Inc. to serve as the Company's exclusive financial adviser to assist in the review and evaluation of that process. As part of the review of strategic alternatives, the Company will consider options such as out-licensing opportunities for existing programs and merger and acquisition opportunities.
To best preserve the Company's existing cash, the Company commenced a reduction-in-force on August 1, 2024, which will continue in stages as the Company's operational and strategic direction evolves. Additionally, while the Company has discontinued the clinical development of voruciclib, certain non-clinical activities related to the Company's drug candidates continue to be conducted.
There can be no assurance the exploration of strategic alternatives will result in any agreements or transactions, or, if completed, any agreements or transactions will be successful or on attractive terms. The Company does not expect to disclose developments with respect to this process unless or until the evaluation of strategic alternatives has been completed or the Board of Directors has concluded disclosure is appropriate or legally required.
As of June 30, 2024, MEI had $38.3 million in cash, cash equivalents, and short-term investments with no outstanding debt.

MEI Pharma Says As Of June 30, 2024, Have $38.3M In Cash, Cash Equivalents, And Short-Term Investments With No Outstanding Debt; Confirms Continuation Of Evaluation Of Strategic Alternatives

Laidlaw &amp; Co. analyst Yale Jen downgrades MEI Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) from Buy to Hold.

Downgrades

Analyst Ratings

Laidlaw & Co. Downgrades MEI Pharma to Hold

Shares of CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) fell sharply during Monday&#8217;s session. Guggenheim analyst John Difucci downgraded the stock from Buy to Neutral, while BTIG analyst Gray Powell downgraded the stock from <a href="https://www.benzinga.com/news/24/07/39886199/crowdstrike-faces-downgrades-amid-concerns-over-pricing-and-renewals-following-disruption">Buy to Neutral</a>.
CrowdStrike shares dipped over 11% on Friday after the company suffered a major outage impacting businesses around the world.
Selective Insurance Group shares dipped 13.2% to $264.65 on Friday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>MIRA Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRA#NASDAQ">MIRA</a>) shares climbed 148% to $1.98 after the company announced new preclinical study results for its novel oral ketamine analog, Ketamir-2.</li>
<li>CareMax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMAX#NASDAQ">CMAX</a>) gained 135% to $3.72.</li>
<li>Tellurian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NASDAQ">TELL</a>) jumped 64.5% to $0.9401 after the company announced it will be acquired by Woodside Energy for approximately $900 million.</li>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) shares climbed 46.6% to $11.08 after Nvidia last week disclosed a stake in the company.</li>
<li>Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) rose 27.2% to $12.82 after the company announced its first Phase 3 trial is expected to conclude by December and its second Phase 3 trial is expected to conclude by June 2025.</li>
<li>MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) surged 24% to $3.55 after the company announced it is considering strategic alternatives.</li>
<li>Society Pass Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOPA#NASDAQ">SOPA</a>) rose 22.8% to $1.56.</li>
<li>LivePerson, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPSN#NASDAQ">LPSN</a>) gained 18.8% to $1.17.</li>
<li>Super League Enterprise, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLE#NASDAQ">SLE</a>) jumped 18.8% to $1.33. Super League Enterprise Director Jeff Patrick Gehl bought a total of 50,000 shares at an average price of $1.11.</li>
<li>Richtech Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RR#NASDAQ">RR</a>) shares gained 18.2% to $1.74 after gaining around 228% on Friday.</li>
<li>Sonoma Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNOA#NASDAQ">SNOA</a>) gained 17% to $0.3602.</li>
<li>Alpha Teknova, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) climbed 16.5% to $2.53.</li>
<li>Embecta Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) gained 16.4% to $15.34. Embecta is scheduled to host a conference call to discuss its fiscal third quarter 2024 financial results on Friday, Aug. 9.</li>
<li>Netcapital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCPL#NASDAQ">NCPL</a>) rose 16.2% to $0.1208 after jumping more than 12% on Friday. Netcapital, last week, announced the launch of the beta version of its secondary trading platform.</li>
<li>Nukkleus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUKK#NASDAQ">NUKK</a>) gained 14.7% to $0.3670.</li>
<li>Terex Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEX#NYSE">TEX</a>) climbed 11.2% to $62.76 after the company inked a deal to acquire Environmental Solutions Group (ESG) from Dover Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) in a $2.0 billion all-cash transaction.</li>
<li>Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) gained 10.5% to $7.88.</li>
<li>Aveanna Healthcare Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAH#NASDAQ">AVAH</a>) rose 10.5% to $3.80. Aveanna Healthcare will release its second quarter results before the market open on Thursday, Aug. 8.</li>
<li>Karooooo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) gained 10.4% to $37.78</li>
<li>Richtech Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RR#NASDAQ">RR</a>) rose 10% to $1.6050 after the company installed its advanced robotic beverage system, ADAM, at Ghost Kitchens International Inc. in Dawsonville, Georgia.</li>
<li>Clearwater Paper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLW#NYSE">CLW</a>) gained 9.6% to $53.65 after the company announced a deal to sell its tissue business for $1.06 billion.</li>
<li>SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) gained 9.5% to $23.80 after a failed software update from CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) caused global outages.</li>
<li>TuanChe Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TC#NASDAQ">TC</a>) shares gained 8.5% to $1.6599 after falling 6% on Friday.</li>
<li>TAL Education Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAL#NYSE">TAL</a>) rose 7.4% to $10.84. TAL Education will release its unaudited financial results for the first quarter, before the opening bell on Thursday, Aug. 1.</li>
<li>MINISO Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) rose 5.6% to $18.10.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Linkage Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGCB#NASDAQ">LGCB</a>) shares dipped 29.1% to $3.6303.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) fell 20.7% to $0.0375.</li>
<li>TRxADE HEALTH, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDS#NASDAQ">MEDS</a>) declined 20.3% to $11.75.</li>
<li>Hawaiian Electric Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HE#NYSE">HE</a>) shares fell 20.2% to $13.97. Hawaiian Electric Industries shares traded higher on Friday following a report suggesting the company reached a settlement plan over the Maui wildfires.</li>
<li>Nature Wood Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWGL#NASDAQ">NWGL</a>) dipped 20.2% to $1.98.</li>
<li>Dogness (International) Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOGZ#NASDAQ">DOGZ</a>) declined 18.3% to $12.17.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) declined 16.8% to $0.1330.</li>
<li>Ryanair Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#NASDAQ">RYAAY</a>) shares fell 16.6% to $95.25 after the company said profits dipped 46% to 360 million euros (£303 million) for the three months to June 30.</li>
<li>PS International Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSIG#NASDAQ">PSIG</a>) fell 16.4% to $2.85.</li>
<li>Portage Biotech Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTG#NASDAQ">PRTG</a>) shares fell 16.2% to $0.1912 after gaining around 25% on Friday.</li>
<li>Salarius Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NASDAQ">SLRX</a>) shares dipped 16.1% to $1.53 after falling around 25% on Friday. Salarius Pharmaceuticals was recently notified by MD Anderson Cancer Center of a Grade 4 adverse event in the Seclidemstat clinical trial.</li>
<li>Exicure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) shares fell 16.1% to $0.4490 after surging 76% on Friday.</li>
<li>Savers Value Village, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SVV#NYSE">SVV</a>) declined 12.6% to $10.19 after JP Morgan downgraded the stock from Overweight to Neutral and lowered its price target from $21 to $12.</li>
<li>Fitell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) fell 11.1% to $19.68.</li>
<li>Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) dipped 9.1% to $5.20.</li>
<li>Valens Semiconductor Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLN#NYSE">VLN</a>) fell 8.6% to $2.64. Valens Semiconductor will release its second quarter 2024 financial results before the opening bell on Wednesday, Aug. 7.</li>
<li>Virios Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRI#NASDAQ">VIRI</a>) fell 8.2% to $0.2311 after declining over 4% on Friday.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) declined 6.7% to $10.54.</li>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) declined 6.4% to $38.94 following a second-quarter revenue miss.</li>
<li>e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) fell 5.3% to $168.18.</li>
</ul>
Now Read This: 
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</ul>

APLD

ATPC

AVAH

CMAX

CRWD

DOGZ

EMBC

FTEL

KARO

LGCB

LPSN

MEDS

MNSO

NCPL

NUKK

NWGL

PRTG

PSIG

RYAAY

SAVA

SERV

SLNA

SLRX

SNOA

SOPA

TELL

TKNO

VIRI

XCUR

Why CrowdStrike Shares Are Trading Lower By Around 13%? Here Are Other Stocks Moving In Monday's Mid-Day Session

MEI Pharma shares are trading higher after the company announced it is considering strategic alternatives.

Company Commences a Cash Preservation Plan Including a Reduction in Force
MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) (the "Company") today announced that its Board of Directors has determined unanimously to begin evaluation of the Company's strategic alternatives, including potential transactions as well as an orderly wind down of the Company, if appropriate, in order to maximize the value of its assets for its stockholders. The Company intends to evaluate and engage a financial advisor to assist in this process.
In order to best preserve the Company's existing cash, the Company will commence a reduction-in-force beginning as soon as practicable and continuing in stages as the Company's operational and strategic direction evolves. The Company intends to promptly discontinue the clinical development of voruciclib, while certain non-clinical activities related to MEI's drug candidate assets will continue to be conducted by the Company.

MEI Pharma To Consider Strategic Alternatives; Will Commence A Reduction-In-Force Beginning As Soon As Practicable And Continuing In Stages As The Co's Operational And Strategic Direction Evolves; Intends To Promptly Discontinue The Clinical Development Of Voruciclib

Press Releases

MEI Pharma to Consider Strategic Alternatives

MEI Pharma Engages Oppenheimer & Co. Inc. to Assist in Evaluating Strategic Alternatives

MEI Pharma Reports Fiscal Year End 2024 Cash Position

MEI Pharma Reports First Quarter Fiscal Year 2025 Cash Position

MEI Pharma Reports Second Quarter Fiscal Year 2025 Cash Position

The Radoff-JEC Group Nominates Three Highly Qualified Candidates for Election to the Atea Pharmaceuticals Board of Directors

MEI Pharma Announces $100,000,000 Private Placement to Initiate Litecoin Treasury Strategy, Becoming First and Only Publicly Traded LTC Holder on a National Exchange

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