MEI Pharma shares crash as cancer drug fails mid-stage test

March 23, 2015 11:31 AM

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(Reuters) - MEI Pharma was set to lose more than half its market value on Monday after the company's cancer drug failed to meet the main goal in a mid-stage study.

The drug, pracinostat, was being tested in combination with chemotherapy drug azacitidine to treat patients with myelodysplastic syndrome - a type of blood cancer.

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