Mi­cro­cap MEI joins the long line­up of can­cer bio­phar­mas to land a ‘break­through’

Fi­nan­cial prowess is no pre­req­ui­site to a break­through drug des­ig­na­tion at the FDA these days. Four years af­ter San Diego-based MEI Phar­ma land­ed an HDAC in­hibitor for a batch of stock and promised mile­stones, the mi­cro­cap biotech qual­i­fied for the in­side track at the FDA.

That was good for a 24% spike in its stock price $MEIP in pre­mar­ket trad­ing this morn­ing, as its mar­ket cap sat at a mere $46 mil­lion.

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