Deerfield Management Reports Holding 6.38% of MEI Pharma
In a new 13G filing, James E. Flynn and his fund Deerfield Management reported a position in MEI Pharma Inc (NASDAQ:MEIP), which represents 6.38% of the company. The stake held by Flynn amasses around 1.4 million shares of the MEI Pharma's common stock, up from 822,199 shares disclosed in its latest 13F.
Earlier this month, Jacob Gottlieb's hedge fund Visium Asset Management reported initiating a new position in MEI Pharma Inc, which represents 5.4% of the company.
Oncology company, MEI Pharma recently announced an underwritten public offering in terms of which the company intends to sell around 4.4 million common shares, at a price of $8.00 apiece, with the gross proceeds amounting to some $35 million. The company will use the proceeds for clinical development of some of its drug candidates, as well as other purposes, MEI Pharma said in a press release.