$MEIP
MEI Pharma, Inc.

2023 Q3 Form 10-K Financial Statement

#000095017023049927 Filed on September 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue $65.30M $1.460M $48.82M
YoY Change 647.96% -87.21% 19.95%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.530M $9.970M $33.13M
YoY Change -12.77% 72.76% 8.48%
% of Gross Profit
Research & Development $3.485M $2.570M $52.45M
YoY Change -82.09% -88.23% -38.76%
% of Gross Profit
Depreciation & Amortization $87.00K $100.0K $386.0K
YoY Change -12.12% 17.65% 18.4%
% of Gross Profit
Operating Expenses $3.485M $12.54M $52.45M
YoY Change -82.09% -54.58% -38.76%
Operating Profit $55.28M -$36.76M
YoY Change -403.42% -51.3%
Interest Expense $1.090M $1.060M $3.350M
YoY Change -31.75% 662.59% -84.07%
% of Operating Profit 1.97%
Other Income/Expense, Net $1.093M -$10.00K $4.926M
YoY Change -54750.0% 66.67% -76.58%
Pretax Income $56.37M -$10.03M -$31.84M
YoY Change -439.09% -37.56% -41.53%
Income Tax $0.00
% Of Pretax Income
Net Earnings $56.37M -$10.03M -$31.84M
YoY Change -439.11% -37.56% -41.53%
Net Earnings / Revenue 86.33% -686.99% -65.22%
Basic Earnings Per Share $8.46 -$4.78
Diluted Earnings Per Share $8.46 -$1.51 -$4.78
COMMON SHARES
Basic Shares Outstanding 6.663M 6.663M 6.663M
Diluted Shares Outstanding 6.663M 6.663M

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $82.20M $100.7M $100.7M
YoY Change -40.59% -34.29% -34.29%
Cash & Equivalents $3.372M $16.91M $16.90M
Short-Term Investments $78.80M $83.80M $83.80M
Other Short-Term Assets $6.200M $6.800M $6.800M
YoY Change 122.86% 77.55% 77.55%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00 $100.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $88.42M $107.5M $107.5M
YoY Change -40.62% -35.66% -35.68%
LONG-TERM ASSETS
Property, Plant & Equipment $1.229M $1.309M $13.30M
YoY Change -24.32% -21.14% 24.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $12.83M $13.28M $13.30M
YoY Change -12.59% 23.96% 24.14%
TOTAL ASSETS
Total Short-Term Assets $88.42M $107.5M $107.5M
Total Long-Term Assets $12.83M $13.28M $13.30M
Total Assets $101.3M $120.8M $120.8M
YoY Change -38.1% -32.07% -32.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.220M $6.134M $6.100M
YoY Change -61.75% -22.53% -22.96%
Accrued Expenses $4.289M $12.46M $13.90M
YoY Change -53.46% 15.17% 18.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.564M $20.34M $20.30M
YoY Change -63.46% -16.79% -16.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.30M $75.80M $75.80M
YoY Change -89.01% -24.94% -24.94%
Total Long-Term Liabilities $11.30M $75.80M $75.80M
YoY Change -89.01% -24.94% -24.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.564M $20.34M $20.30M
Total Long-Term Liabilities $11.30M $75.80M $75.80M
Total Liabilities $19.89M $96.19M $96.20M
YoY Change -84.25% -23.31% -23.3%
SHAREHOLDERS EQUITY
Retained Earnings -$349.6M -$406.0M
YoY Change -10.54% 8.5%
Common Stock $431.0M $430.6M
YoY Change 0.68% 0.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $81.36M $24.62M $24.60M
YoY Change
Total Liabilities & Shareholders Equity $101.3M $120.8M $120.8M
YoY Change -38.1% -32.07% -32.07%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income $56.37M -$10.03M -$31.84M
YoY Change -439.11% -37.56% -41.53%
Depreciation, Depletion And Amortization $87.00K $100.0K $386.0K
YoY Change -12.12% 17.65% 18.4%
Cash From Operating Activities -$18.49M -$11.30M -$52.48M
YoY Change 25.09% -27.12% 7.67%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $40.00K $35.00K
YoY Change -100.0% -113.07% -92.69%
Acquisitions
YoY Change
Other Investing Activities $4.960M $19.44M $53.73M
YoY Change -64.05% -4.79% 628.94%
Cash From Investing Activities $4.957M $19.40M $53.69M
YoY Change -63.91% -3.54% 679.02%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 -40.00K
YoY Change -100.0% -100.0% -100.08%
NET CHANGE
Cash From Operating Activities -18.49M -11.30M -52.48M
Cash From Investing Activities 4.957M 19.40M 53.69M
Cash From Financing Activities 0.000 0.000 -40.00K
Net Change In Cash -13.53M 8.100M 1.166M
YoY Change 1145.08% 75.02% -83.8%
FREE CASH FLOW
Cash From Operating Activities -$18.49M -$11.30M -$52.48M
Capital Expenditures $0.00 $40.00K $35.00K
Free Cash Flow -$18.49M -$11.34M -$52.52M
YoY Change 24.56% -25.38% 6.69%

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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
15740000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8543000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
16906000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
15740000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4347000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2189000
CY2022 meip Receivables Amounts Billed
ReceivablesAmountsBilled
54611000
CY2023 meip Receivables Payments Received
ReceivablesPaymentsReceived
-28087000
CY2022 meip Receivables Payments Received
ReceivablesPaymentsReceived
-54611000
CY2023 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.51
CY2023 meip Severance Benefits And Related Costs
SeveranceBenefitsAndRelatedCosts
3600000
CY2023 us-gaap Restructuring Costs
RestructuringCosts
2600000
CY2023 meip Accrued Employee Termination Benefits
AccruedEmployeeTerminationBenefits
1000000
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-406000000
CY2023Q2 meip Cash And Cash Equivalentsshort Term Investments And Common Stock Proceeds Receivable
CashAndCashEquivalentsshortTermInvestmentsAndCommonStockProceedsReceivable
101000000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:'Times New Roman',serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:'Times New Roman',serif;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and disclosures made in the accompanying notes to the consolidated financial statements. We use estimates that affect the reported amounts (including assets, liabilities, revenues and expenses) and related disclosures. Actual results could materially differ from those estimates.</span></p>
CY2023Q2 us-gaap Short Term Investments
ShortTermInvestments
83800000
CY2022Q2 us-gaap Short Term Investments
ShortTermInvestments
137500000
CY2023Q2 meip Accounts Receivable Net Ending Balance
AccountsReceivableNetEndingBalance
0
CY2023 us-gaap Revenues
Revenues
48816000
CY2022 us-gaap Revenues
Revenues
40697000
CY2023 us-gaap Revenues
Revenues
48816000
CY2022 us-gaap Revenues
Revenues
40697000
CY2022Q2 meip Accounts Receivable Net Beginning Balance
AccountsReceivableNetBeginningBalance
0
CY2021Q2 meip Accounts Receivable Net Beginning Balance
AccountsReceivableNetBeginningBalance
0
CY2023 meip Receivables Amounts Billed
ReceivablesAmountsBilled
28087000
CY2022Q2 meip Accounts Receivable Net Ending Balance
AccountsReceivableNetEndingBalance
0
CY2022Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
10044000
CY2021Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
7582000
CY2023 meip Contract Assets Billable Amounts
ContractAssetsBillableAmounts
18128000
CY2022 meip Contract Assets Billable Amounts
ContractAssetsBillableAmounts
56816000
CY2023 meip Contract Assets Amounts Billed
ContractAssetsAmountsBilled
-28087000
CY2022 meip Contract Assets Amounts Billed
ContractAssetsAmountsBilled
-54354000
CY2023Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
85000
CY2022Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
10044000
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
30900000
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
14677000
CY2023 meip Contract With Customer Liability Milestone Payment Received
ContractWithCustomerLiabilityMilestonePaymentReceived
0
CY2022 meip Contract With Customer Liability Milestone Payment Received
ContractWithCustomerLiabilityMilestonePaymentReceived
20000000
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-5411000
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-3777000
CY2023 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
-16565000
CY2022 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
0
CY2023 meip Contract With Customer Liability Revenue Recognized Performance Obligations No Longer Commence
ContractWithCustomerLiabilityRevenueRecognizedPerformanceObligationsNoLongerCommence
-8607000
CY2022 meip Contract With Customer Liability Revenue Recognized Performance Obligations No Longer Commence
ContractWithCustomerLiabilityRevenueRecognizedPerformanceObligationsNoLongerCommence
0
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
317000
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
30900000
CY2023 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
64900000
CY2022 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
95400000
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
33000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6663000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6257000
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1036000
CY2023 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Other Information
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleOtherInformation
An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained.
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
0
CY2022 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
0
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-31838000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-54454000
CY2023 meip Dilutive Securities Effect On Basic Earnings Per Share Change In Fair Value Of Warrant Liability
DilutiveSecuritiesEffectOnBasicEarningsPerShareChangeInFairValueOfWarrantLiability
0
CY2022 meip Dilutive Securities Effect On Basic Earnings Per Share Change In Fair Value Of Warrant Liability
DilutiveSecuritiesEffectOnBasicEarningsPerShareChangeInFairValueOfWarrantLiability
-8046000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-31838000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-62500000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6663000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6224000
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1388000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1437000
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4346000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1423000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2343000
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2308000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1034000
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
648000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1309000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1660000
CY2023Q2 meip Accrued Preclinical And Clinical Costs
AccruedPreclinicalAndClinicalCosts
3663000
CY2022Q2 meip Accrued Preclinical And Clinical Costs
AccruedPreclinicalAndClinicalCosts
5264000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7189000
CY2023Q2 us-gaap Other Accrued Liabilities Current
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186000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
174000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12461000
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10820000
CY2023 meip Unsold Securities Shares And Warrants Under Agreement
UnsoldSecuritiesSharesAndWarrantsUnderAgreement
107500000
CY2023 meip Shelf Registration Expiration Date
ShelfRegistrationExpirationDate
2023-05-18
CY2022Q2 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
1600000
CY2022Q4 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
0
CY2023 meip Number Of Warrants Exercised
NumberOfWarrantsExercised
0
CY2022 meip Number Of Warrants Exercised
NumberOfWarrantsExercised
0
CY2023Q2 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
226100000
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
226000000
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00000002
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote per share
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
100000
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
3589000
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
8350000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
996700
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
57.00
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
682074
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.63
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
393867
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
35.56
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1284907
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
38.32
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
759825
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
52.66
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y3M18D
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2800000
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M12D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.032
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.013
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.855
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.696
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.04
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
31.4
CY2023Q2 meip Deferred Tax Assets Property Plant And Equipment And Intangible Assets
DeferredTaxAssetsPropertyPlantAndEquipmentAndIntangibleAssets
10681000
CY2022Q2 meip Deferred Tax Assets Property Plant And Equipment And Intangible Assets
DeferredTaxAssetsPropertyPlantAndEquipmentAndIntangibleAssets
13283000
CY2023Q2 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
10320000
CY2022Q2 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
0
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
5149000
CY2023 us-gaap Lessor Operating Lease Option To Extend
LessorOperatingLeaseOptionToExtend
November 2029
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
2267000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1519000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2335000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1913000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2477000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2551000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2715000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4385000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
16376000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3648000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
12728000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1428000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11300000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
12728000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y4M24D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.075
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-31838000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-31838000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-54454000
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-6689000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-11435000
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-187000
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-191000
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0
CY2023 meip Effective Income Tax Rate Reconciliation Tax Expensebenefit Warrant Liability Amount
EffectiveIncomeTaxRateReconciliationTaxExpensebenefitWarrantLiabilityAmount
-337000
CY2023 meip Effective Income Tax Rate Reconciliation Tax Expensebenefit Warrant Liability Percentage
EffectiveIncomeTaxRateReconciliationTaxExpensebenefitWarrantLiabilityPercentage
0.01
CY2022 meip Effective Income Tax Rate Reconciliation Tax Expensebenefit Warrant Liability Amount
EffectiveIncomeTaxRateReconciliationTaxExpensebenefitWarrantLiabilityAmount
-4358000
CY2022 meip Effective Income Tax Rate Reconciliation Tax Expensebenefit Warrant Liability Percentage
EffectiveIncomeTaxRateReconciliationTaxExpensebenefitWarrantLiabilityPercentage
0.08
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
114000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
71000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
7020000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.22
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
15473000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.28
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
79000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
440000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.01
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2023Q2 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
14068000
CY2022Q2 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
20362000
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
4869000
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
34514000
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
29581000
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
1247000
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
927000
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
48000
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
25000
CY2023Q2 meip Deferred Tax Assets Right Of Use Assets
DeferredTaxAssetsRightOfUseAssets
-2597000
CY2022Q2 meip Deferred Tax Assets Right Of Use Assets
DeferredTaxAssetsRightOfUseAssets
-1932000
CY2023Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2761000
CY2022Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2057000
CY2023Q2 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
8000
CY2022Q2 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
7000
CY2023Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
76199000
CY2022Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
69179000
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
76199000
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
69179000
CY2023Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
156000000
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
30000000
CY2023 meip Taxable Income Percentage
TaxableIncomePercentage
0.80

Files In Submission

Name View Source Status
meip-20230630_cal.xml Edgar Link unprocessable
meip-20230630_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0000950170-23-049927-index-headers.html Edgar Link pending
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0000950170-23-049927-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
img104060336_0.jpg Edgar Link pending
meip-20230630.htm Edgar Link pending
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meip-20230630_pre.xml Edgar Link unprocessable
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meip-20230630_htm.xml Edgar Link completed
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