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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