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MEI Pharma, Inc.

Company NameMEI Pharma, Inc.
Stock SymbolMEIP

On May 13, 2022, after the market closed, MEI Pharma announced that it would restate certain financial results because "revenue was overstated in some quarters and understated in other quarters in the Company's financial statements during 2020 and 2021." The errors were due to improper revenue recognition from its license, development, and commercialization agreement with Kyowa Kirin Co., Ltd.

On this news, MEI Pharma’s stock fell $0.04, or 7.2%, to close at $0.48 per share on May 16, 2022, thereby injuring investors. 

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