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MEI Pharma's net loss reduces to USD4.3m for Q1 fiscal 2017.

M2 PHARMA-November 10, 2016-MEI Pharma's net loss reduces to USD4.3m for Q1 fiscal 2017

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Oncology company MEI Pharma (NasdaqCM:MEIP) disclosed on Wednesday that it recorded a net loss of USD4.3m (USD0.12 per share) for its first quarter ended 30 September 2016.

This is compared with a higher net loss of USD5.7m (USD0.17 per share) for the previous quarter and USD4.6m (USD0.13 per share) for the same period in 2015.

Total revenues of USD1.096m were collected for Q1 fiscal 2017 over nil in the same prior year period.

Research and development expenses of USD1.6m were recorded for the three months ended 30 September 2016, a decrease from R&D of USD2.8m for the same period in 2015, primarily due to a reduction in clinical trial expenses for Pracinostat and ME-344.

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Publication:M2 Pharma
Article Type:Financial report
Date:Nov 10, 2016
Words:155
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