Julian and Felix Baker
's Baker Bros. Advisors has decreased its stake in MEI Pharma Inc (NASDAQ:MEIP
) to 746,521 shares, from 1,130,317 shares revealed as held earlier. According to the filing with the Securities and Exchange Commission, Baker Bros. holds
3.4% of the company's common stock, down from 5.1% held previously. Overall, in several deals, Baker Bros. Raised its position MEI Pharma, from 345,317 shares owned at the end of the third quarter of 2013.
MEI Pharma a development-stage oncology company; develops drugs for the treatment of cancer. Recently MEI Pharma Inc (NASDAQ:MEIP) priced an underwritten public offering
of 4.38 million shares of its common stock at an offering price of $8.00 per share. The total gross proceeds of $35 million from the offering will be used to further the progress of clinical development programs for its drug candidates, Pracinostat, ME-344 and PWT143.
Recently, Deerfield Management, run by James E. Flynn
, increased its holdings
in MEI Pharma Inc (NASDAQ:MEIP) from 822,199 shares to 1.4 million shares representing 6.38% of the company. Jacob Gottlieb
and his fund Visium Asset Management disclosed in October
that the fund has amassed 931,767 shares of MEI Pharma representing 5.4% of the company. Nine Chapters Capital Management, led by Chao Ku
, initiated a position in the stock in the third quarter of 2013 and holds 55,100 shares worth $1.54 million.
Julian and Felix Baker's Baker Bros. Advisors focuses mainly on biotechnology companies. Recently the fund had raised its stake
in Seattle Genetics, Inc. (NASDAQ:SGEN
) from 20.5 million shares to 20.9 million shares, the stake included 112,500 shares under options, held directly by Felix Baker representing a 17.1% stake in the company’s common stock. Earlier in the first week of December
, the fund had bought an additional 1.0 million shares of Seattle Genetics.
Julian and Felix Baker earlier had reduced its stake in Incyte Corporation (NASDAQ:INCY
) from 30.20 million to 19.53 million shares and holds 11.8% in the company. The fund’s majority of the holding constitute
of Pharmacyclics Inc (NASDAQ:PCYC
) which constitute 9.01 million shares worth $1.25 billion.
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