MEI Pharma reports Q2 FY2024 results; cash $59.5M, zero revenue, clinical data readouts expected H1 2024

Lite Strategy, Inc.

2024-Q2 EPS reported $6.80 vs consensus -$1.46 ▲ beat (+564.6%)

Cash, cash equivalents and short-term investments of $59.5M at Dec 31, 2023, with no outstanding debt.
Revenue zero for Q2 ended Dec 31, 2023 vs $32.7M prior year due to Kyowa Kirin agreement termination.
R&D expenses fell to $3.9M in Q2 from $15.3M Q2 prior year, driven by zandelisib program wind-down.
Expects initial safety/efficacy data for voruciclib (CDK9 inhibitor) and ME-344 (mitochondrial inhibitor) in first half of 2024.
Cash used in operations was $29.5M for six months ended Dec 31, 2023, comparable to $29.1M prior period.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Lite Strategy, Inc. reported financial results for second quarter ended December 31, 2023.

Period: second quarter ended December 31, 2023
Result: reported results

Exact text from the filing

On February 13, 2024, MEI Pharma, Inc. (the “Company”) issued a press release announcing its financial results for its second quarter ended December 31, 2023.

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Source: SEC EDGAR

accession 0000950170-24-014643

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