Executive Summary
MEI Pharma reported no revenue in QQ3 2024, recording a net loss of $9.13 million for the quarter and an operating loss of $9.83 million. R&D expenditure totaled $5.22 million, with G&A expense of $4.61 million and a small depreciation expense of $0.086 million, yielding a negative EBITDA of $9.74 million. The company funded operations during the quarter with a $11.66 million financing activity, while operating cash flow remained negative at approximately $2.93 million. Balance sheet highlights include $56.6 million in cash and short-term investments and total liabilities of $20.23 million against $51.03 million in stockholders’ equity, suggesting a solid liquidity position relative to current obligations but a fragile earnings profile given ongoing clinical development. The near-term outlook centers on execution of late-stage and mid-stage oncology programs (notably Zandelisib in relapsed/refractory follicular lymphoma and Vorucilib in B-cell malignancies) and potential strategic collaborations to monetize pipeline value. Investors should monitor upcoming readouts, regulatory steps, and any additional financing activity, as management guidance is not explicitly disclosed for QQ3 2024.
Key Performance Indicators
Key Insights
Revenue: Not disclosed / N/A for QQ3 2024. Gross Profit: -$86,000; Gross Profit Margin: N/A. Operating Income: -$9.829 million; EBITDA: -$9.743 million. Net Income: -$9.13 million; EPS: -$1.37. YoY changes (where available): Gross profit down -101.58%; Operating income up 40.03%; Net income up 40.87%; EPS up 40.95%. QoQ changes: Gross profit down -1.18%; Operating income up 17.61%; Net income up 17.45%; EPS up 17.47%. Cash flow: Net cash from operating activities -$2.93 million; Net cash used in...
Financial Highlights
Revenue: Not disclosed / N/A for QQ3 2024. Gross Profit: -$86,000; Gross Profit Margin: N/A. Operating Income: -$9.829 million; EBITDA: -$9.743 million. Net Income: -$9.13 million; EPS: -$1.37. YoY changes (where available): Gross profit down -101.58%; Operating income up 40.03%; Net income up 40.87%; EPS up 40.95%. QoQ changes: Gross profit down -1.18%; Operating income up 17.61%; Net income up 17.45%; EPS up 17.47%. Cash flow: Net cash from operating activities -$2.93 million; Net cash used in investing activities -$0.122 million; Net cash provided by financing activities +$11.66 million; Free cash flow: -$2.93 million. Balance sheet liquidity: Cash and cash equivalents $2.37 million; Short-term investments $54.18 million; Total cash and investments $56.55 million; Total assets $71.26 million; Total liabilities $20.23 million; Stockholders’ equity $51.03 million. Liquidity indicators: Current ratio 6.17, Quick ratio 6.17, Cash ratio 0.246.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Gross Profit |
-86.00K |
-101.58% |
-1.18% |
| Operating Income |
-9.83M |
40.03% |
17.61% |
| Net Income |
-9.13M |
40.87% |
17.45% |
| EPS |
-1.37 |
40.95% |
17.47% |
Key Financial Ratios
operatingCashFlowPerShare
$-0.44
freeCashFlowPerShare
$-0.44
dividendPayoutRatio
-127.7%
Management Commentary
Note: The dataset provided does not include an earnings call transcript for QQ3 2024. Consequently, there are no management quotes or thematic transcripts to synthesize. Implication for investors is that sentiment and guidance typically drawn from the call are not available here; reliance should be on the presented 10-Q/press release for program updates and near-term catalysts.
Forward Guidance
No explicit forward guidance was disclosed for QQ3 2024. Management commentary (where available from accompanying materials) typically centers on progressing the pipeline (notably Zandelisib in relapsed/refractory follicular lymphoma and Vorucilib in AML/B-cell malignancies), potential licensing or collaboration milestones, and ongoing capital management. Given the current liquidity cushion from $56.6 million in cash and investments and a $11.66 million financing inflow in the period, MEI Pharam may sustain operations through upcoming clinical milestones; however, the lack of revenue and ongoing R&D burn imply high financing risk and sensitivity to trial outcomes. Investors should monitor upcoming trial readouts, potential strategic partnerships, and any additional financing activities that could affect dilution and equity valuation.