Frigate Ventures Lp Lowers stake in MEI Pharma Inc (MEIP)

MEI Pharma Inc (MEIP) : Frigate Ventures Lp reduced its stake in MEI Pharma Inc by 24.97% during the most recent quarter end. The investment management company now holds a total of 1,842,493 shares of MEI Pharma Inc which is valued at $3,740,261 after selling 613,300 shares in MEI Pharma Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.MEI Pharma Inc makes up approximately 1.36% of Frigate Ventures Lp’s portfolio.

Other Hedge Funds, Including , Tfs Capital sold out all of its stake in MEIP during the most recent quarter. The investment firm sold 14,347 shares of MEIP which is valued $29,124.Blackrock Investment Management reduced its stake in MEIP by selling 510 shares or 9.06% in the most recent quarter. The Hedge Fund company now holds 5,118 shares of MEIP which is valued at $10,390.

MEI Pharma Inc closed down -0.01 points or -0.52% at $1.9 with 1,68,513 shares getting traded on Monday. Post opening the session at $1.91, the shares hit an intraday low of $1.9 and an intraday high of $1.95 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

MEI Pharma Inc. is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Company’s portfolio of clinical drug candidates includes Pracinostat ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). ME-344 is an isoflavone-based mitochondrial inhibitor targeting a mitochondrial component of the terminal respiratory chain complex in rapidly proliferating cells. PWT143 is an oral inhibitor of phosphatidylinositide 3-kinase (PI3K) delta a molecular target that plays a critical role in the proliferation and survival of hematologic cancer cells. Pracinostat has been tested in multiple Phase I and Phase II clinical trials in advanced hematologic malignancies and solid tumor indications.

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