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A development stage company, engaged in the clinical development of the anti-cancer drug phenoxodiol.
Another Baker Brothers investment. Catalysts in June 2013??? Initiation of Phase II for Pracinostat Phase II trial in June 2013; Data expected from Phase I clinical trial of ME-344 is expected in June 2013
Thanks to a low float after a reverse split, MEI stock is bobbing around like a cork in the ocean. After cutting loose from Novogen and their failed plant flavonoid technology, MEI needed to find a new reason to exist and continue paying inflated salaries to management. Lo and behold, the company acquired oral HDAC inhibitor Pracinostat from S*Bio for 0.5M in stock and contingent payments. Suddenly, Pracinostat is the next great thing in hematologic malignancy, with MEI heavily PR'ing preliminary phase II data for Pracinostat in MDS that was generated before they bought the drug. Did S*Bio management suddenly go insane, divesting a multibillion dollar drug to a nonentity microcap biopharma for pocket change? I'm skeptical. But this is baby bio and there's no accounting for short-term market irrationality. Grab a seat and lets see what happens ...
High Volume Breakout on 02/13/13
Did this go up for any logical reason?
It won't be fastest growing company but it will be one that steadily rises due to the fact the more and more people are trying to find the cure for cancer with any kind of research and development this company is ahead of some of the games that are being played right now. Anyone and everyone is throwing in their hats to get a piece of cancer research because of the fact that everyone wants to be recognized as the person or company that cured cancer.
Tharlow likes it...
Potential drug in pipeline for "orphan" cancer (orphan as per FDA) (pancreatic cancer) ref. news belowMany potential drugs are discarded during clinical test but a breaktrhrough drug can reaps substantial rewards!Therefore follow-up updates closely at every stage of clinical tests!-------------------------------------------------------NEW CANAAN, CT--(MARKET WIRE)--Mar 25, 2008 -- Triphendiol was recently granted orphan drug status by the U.S. Food and Drug Administration (FDA) for malignant melanoma and for the treatment of cholangiocarcinoma, bile duct cancer.
This company has a portfolio of next-generation cancer drugs with blockbuster potential. Look no further for the next Genentech.
Picked by GeezerRob
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