MEIP - MEI Pharma launches offering of 17.5M common shares

MEI Pharma (NASDAQ:MEIP) has announced an underwritten public offering of 17.5M shares of its common stock. Terms of the offering are yet to be determined. Underwriters may be granted a 30-day option to purchase up to an additional 15% of the shares of common stock issued in the offering. Net proceeds, together with other available funds, will be used to progress the firm's clinical development programs, prepare for and support the commercial launch of zandelisib, subject to receiving FDA marketing approval, and for other general corporate purposes.

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MEI Pharma launches offering of 17.5M common shares