Baker Bros. Advisors Reduces Exposure to MEI Pharma Inc (MEIP) to 3.4%

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

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.

Disclosure: none

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