Lite Strategy, Inc.

Lite Strategy, Inc. is a pharmaceutical company that develops cancer therapies. On September 10, 2025, the company changed its name from MEI Pharma, Inc. and its ticker symbol to LITS. The company's strategy involves acquiring cancer agents and developing them through clinical trials, partnerships, and out-licensing or commercialization. Their approach to oncology drug development focuses on combining drug candidates with standard-of-care therapies to overcome resistance and address medical needs. The drug candidate pipeline includes voruciclib, an oral cyclin-dependent kinase 9 (CDK9) inhibitor, and zandelisib, an oral, once-daily, selective PI3Kδ inhibitor, which is a pre-clinical candidate. In August 2025, the company implemented a Litecoin Treasury Strategy using net proceeds from the PIPE. On July 22, 2024, the Board of Directors began evaluating strategic alternatives to maximize stockholder value, including potential transactions or an orderly wind-down of operations. A reduction-in-force began on August 1, 2024, and continued in stages. As part of this evaluation, the company discontinued the clinical development of voruciclib, though certain nonclinical activities for drug candidate assets continued. Strategic options considered included out-licensing or selling existing programs, merger and acquisition opportunities, and other potential opportunities. To preserve cash, David M. Urso, President and Chief Executive Officer, and Richard Ghalie, M.D., Chief Medical Officer, stepped down effective August 1, 2024. Mr. Urso also left the Board on that date. The company entered into consulting agreements with Dr. Ghalie and Mr. Urso to assist with strategic efforts or ongoing operations.