MEI Pharma (NASDAQ:MEIP) cratered 70% on failed Phase II trial of pracinostat plus azacitidine in myelodysplastic syndrome. The combination of pracinostat and azacitidine showed no difference in the rate of complete remission compared to azacitidine alone.
I have made a big mistake in this stock. I missed the findings from the Intergroup S1117 study presented at the ASH2014 Annual Meeting. The combination of vorinostat and azacitidine showed no advantage over azacitidine.
Pracinostat and vorinostat are HDAC inhibitors based on hydroxamic acid. The overall response rate was similar for patients treated with azacitidine monotherapy (36%) or azacitidine plus vorinostat (22%).