MEI Pharma Inc (NASDAQ:MEIP), an oncology company focused on the clinical development of novel therapies for cancer, today announced the appointment of Christine White, M.D., as Chairman of the Board of Directors. Dr. White joined the Company’s board in August 2010 and has served as its Lead Director since the retirement of former Chairman, Professor Bryan R.G. Williams, Ph.D., in January 2013.
“Christine is a highly experienced director who has demonstrated her skill at leading a board over the past two years as our Lead Director,” saidDaniel P. Gold, Ph.D., President and Chief Executive Officer of MEI Pharma. “Her role in the clinical development, regulatory approval and commercialization of the blockbuster cancer drug Rituxan®, coupled with her years of hands-on experience treating patients as a clinical oncologist, continue to offer a valuable perspective to our board and management team as we prepare for the initiation of our Phase III study of Pracinostat and beyond.”
Dr. White spent nearly a decade with Biogen Idec from 1996 to 2005, most recently as Senior Vice President of Global Medical Affairs. Previously, she served as Director of Clinical Oncology Research at the Sidney Kimmel Cancer Center in San Diego and in the Department of Medicine at Scripps Memorial Hospitals in La Jolla and Encinitas, California, most recently as Chairman. Dr. White has served as a member of the board of directors of Arena Pharmaceuticals, a commercial-stage biopharmaceutical company, since 2006. She previously served as a member of the board of directors at Genoptix Medical Laboratory until its acquisition by Novartis in 2011, Monogram Biosciences until its acquisition by LabCorp in 2009 and Pharmacyclics (now Abbvie). Dr. White earned her B.A. in Biology and her M.D. from the University of Chicago. She is Board certified in both Internal Medicine and Medical Oncology.
“It has been a privilege to serve with my fellow directors over the past five years and I look forward to continuing that effort in this new role as Chairman,” said Dr. White. “This is a highly functioning and well-rounded board that draws from a wealth of experience in all facets of the drug development business. I am excited about MEI Pharma’s portfolio of clinical drug candidates and committed to working with our entire board and management team to realize their potential while building shareholder value.” (Original Source)
Shares of MEI Pharma closed yesterday at $1.68, down $0.09 or -5.08%. MEIP has a 1-year high of $6.59 and a 1-year low of $1.47. The stock’s 50-day moving average is $1.73 and its 200-day moving average is $1.75.
On the ratings front, MEI Pharma has been the subject of a number of recent research reports. In a report issued on October 7, Cowen analyst Boris Peaker reiterated a Buy rating on MEIP. Separately, on September 3, Wedbush’s David Nierengarten reiterated a Hold rating on the stock and has a price target of $3.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Boris Peaker and David Nierengarten have a total average return of 22.8% and 43.8% respectively. Peaker has a success rate of 47.6% and is ranked #82 out of 3637 analysts, while Nierengarten has a success rate of 50.0% and is ranked #12.
MEI Pharma Inc is an oncology company focused on the clinical development of novel therapeutics for cancer.