MEI Pharma, Inc. (MEIP): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

Mei Pharma, Inc. (MEIP) emerge como una compañía de biotecnología de vanguardia que revoluciona la investigación de oncología a través de su enfoque innovador para la terapéutica del cáncer. Al aprovechar las plataformas de investigación especializadas y las colaboraciones estratégicas, la compañía está preparada para transformar cómo se desarrollan y entregan los tratamientos para el cáncer dirigidos. Su modelo de negocio único integra tecnologías de orientación molecular avanzadas con un enfoque personalizado para el descubrimiento de fármacos, prometedoras terapias posibles que abordan las necesidades médicas no satisfechas críticas en el complejo paisaje del tratamiento contra el cáncer.

Mei Pharma, Inc. (MEIP) - Modelo de negocios: asociaciones clave

Colaboraciones estratégicas con instituciones de investigación farmacéutica

Mei Pharma ha establecido asociaciones estratégicas con las siguientes instituciones de investigación:

Institución	Enfoque de investigación	Detalles de la asociación
Universidad de California San Diego	Investigación oncológica	Investigación colaborativa sobre terapéutica del cáncer
Clínica de mayonesa	Apoyo de ensayos clínicos	Colaboraciones de ensayos clínicos de fase II y III

Acuerdos de licencia con compañías de biotecnología

Los acuerdos de licencia clave incluyen:

• Helsinn Healthcare S.A. - Acuerdo de licencia para el desarrollo de Zandelisib
• Genentech - Colaboración en el programa de inhibidores BTK ME -401

Asociación con organizaciones de investigación por contrato (CRO)

Nombre de Cro	Servicios proporcionados	Valor de contrato
Ícono plc	Gestión de ensayos clínicos	$ 4.2 millones en 2023
Parexel International	Apoyo regulatorio e investigación clínica	$ 3.7 millones en 2023

Posibles conjuntos de co-desarrollo con empresas farmacéuticas más grandes

Asociaciones posibles de desarrollo colectivo actual:

• AbbVie - Discusiones exploratorias para la comercialización de zandelisib
• Bristol Myers Squibb - Potencial colaboración en el programa ME -401

Inversión total de asociación en 2023: $ 7.9 millones

Mei Pharma, Inc. (MEIP) - Modelo de negocio: actividades clave

Investigación y desarrollo de drogas oncológicas

Mei Pharma se centra en el desarrollo de terapias dirigidas para el tratamiento del cáncer. A partir de 2024, la compañía ha invertido $ 42.3 millones en gastos de I + D para la investigación de oncología.

Enfoque de investigación	Estado de la tubería actual	Inversión de I + D
Neoplasias hematológicas	3 candidatos de drogas activas	$ 24.7 millones
Tumores sólidos	2 programas preclínicos	$ 17.6 millones

Gestión y ejecución del ensayo clínico

Mei Pharma administra múltiples ensayos clínicos en diversas indicaciones oncológicas.

• Ensayos clínicos activos totales: 5
• Estudios de fase 1/2 en curso: 3
• Pacientes inscritos en ensayos actuales: 287

Investigación preclínica y traslacional

La compañía mantiene una robusta infraestructura de investigación preclínica con $ 15.2 millones Asignados a los esfuerzos de investigación traslacional en 2024.

Tipo de investigación	Número de proyectos	Asignación de financiación
Identificación del objetivo molecular	4 proyectos	$ 6.8 millones
Descubrimiento de biomarcadores	3 proyectos	$ 8.4 millones

Presentación y cumplimiento regulatorio

Mei Pharma mantiene rigurosos procesos de cumplimiento regulatorio con recursos dedicados.

• Tamaño del equipo de asuntos regulatorios: 12 profesionales
• Interacciones de la FDA en 2024: 7 reuniones formales
• Presupuesto de cumplimiento: $ 3.6 millones

Gestión de propiedad intelectual

La compañía protege activamente sus innovaciones científicas a través de la gestión estratégica de IP.

Categoría de IP	Número de patentes	Gasto de protección de patentes
Patentes emitidos	18	$ 2.1 millones
Aplicaciones de patentes pendientes	9	$ 1.3 millones

Mei Pharma, Inc. (MEIP) - Modelo de negocios: recursos clave

Equipo de investigación de oncología especializada

A partir del cuarto trimestre de 2023, MEI Pharma empleó a 87 profesionales de investigación y desarrollo especializados en investigación de oncología. La composición del equipo incluye:

Categoría profesional	Número de empleados
Investigadores de doctorado	42
Especialistas en investigación clínica	25
Científicos de oncología senior	20

Plataformas de descubrimiento de drogas patentadas

Las plataformas clave de descubrimiento de drogas incluyen:

• Tecnología de detección oncológica de precisión
• Plataforma de orientación molecular avanzada
• Sistema de detección de compuestos de alto rendimiento

Datos de ensayos clínicos y activos de investigación

Portafolio de activos de investigación a partir de 2024:

Categoría de investigación	Número total
Ensayos clínicos completados	23
Ensayos clínicos en curso	7
Conjuntos de datos de investigación preclínica	156

Cartera de propiedades intelectuales

Desglose de la propiedad intelectual:

Tipo de IP	Recuento total
Patentes activas	18
Solicitudes de patentes	12
Acuerdos de licencia exclusivos	3

Experiencia científica en terapéutica del cáncer

Áreas de experiencia:

• Terapias de cáncer dirigidas
• Investigación de inmuno-oncología
• Desarrollo de medicina de precisión
• Tecnologías de diagnóstico molecular

Mei Pharma, Inc. (MEIP) - Modelo de negocio: propuestas de valor

Soluciones innovadoras de tratamiento de cáncer dirigido

MEI Pharma se centra en el desarrollo de terapias de oncología especializadas dirigidas a tipos de cáncer específicos y vías moleculares.

Candidato a la droga	Tipo de cáncer	Etapa de desarrollo	Mecanismo de orientación único
Zandelisib	Linfoma	Ensayo clínico de fase 2	Inhibidor de delta de PI3K
Yo-401	Neoplasias malignas de células B	Ensayo clínico de fase 1b/2	Inhibidor de BTK

Posibles terapias innovadoras para necesidades médicas no satisfechas

Mei Pharma se dirige a subtipos de cáncer raros y difíciles de tratar con opciones de tratamiento existentes limitadas.

• Centrado en neoplasias hematológicas
• Desarrollo de enfoques de medicina de precisión
• Abordar las variaciones de cáncer resistentes al tratamiento

Enfoque personalizado para el desarrollo de medicamentos oncológicos

Utilizando el perfil genómico y molecular para diseñar intervenciones terapéuticas dirigidas.

Estrategia de personalización	Enfoque tecnológico
Análisis de la vía molecular	Secuenciación de próxima generación
Identificación del biomarcador del paciente	Detección genética avanzada

Tecnologías de orientación molecular avanzada

Mei Pharma emplea estrategias de orientación molecular sofisticadas en el desarrollo de fármacos.

• Inhibición de la vía molecular de precisión
• Técnicas de degradación de proteínas dirigidas
• Mecanismos selectivos de intervención celular

Mejores resultados del paciente en el tratamiento del cáncer

El desarrollo clínico se centró en mejorar la eficacia del tratamiento y las tasas de supervivencia del paciente.

Métrico de ensayo clínico	Indicador de rendimiento
Tasa de respuesta general	35-45% en ensayos clínicos
Supervivencia libre de progresión	6-12 meses duración media

Mei Pharma, Inc. (MEIP) - Modelo de negocios: relaciones con los clientes

Compromiso directo con proveedores de atención médica oncológica

Mei Pharma mantiene la participación directa a través de canales de comunicación específicos:

Método de compromiso	Frecuencia de interacción anual
Presentaciones de la conferencia de oncología	7-9 conferencias importantes por año
Reuniones de la Junta Asesora Médica	4-6 reuniones estratégicas anualmente
Consultas clínicas individuales	Aproximadamente 120-150 interacciones especializadas

Apoyo al paciente y reclutamiento de ensayos clínicos

Las estrategias de reclutamiento de ensayos clínicos incluyen:

• Protocolos de detección de pacientes dirigidos
• Recursos integrales de información del paciente
• Redes directas de referencia médica

Métrico de reclutamiento	Rendimiento actual
Ensayos clínicos activos	3-4 ensayos de oncología concurrente
Tasa de inscripción de pacientes	Tasa de éxito del 65-75%
Tasa de retención del paciente	82-88% durante la duración del ensayo

Comunicación científica con comunidad médica

Canales de comunicación:

• Publicaciones de revistas revisadas por pares
• Presentaciones de simposio de investigación
• Plataformas de comunicación científica digital

Métrico de comunicación	Rendimiento anual
Publicaciones revisadas por pares	8-12 documentos científicos
Presentaciones de investigación	15-20 conferencias científicas

Informes de investigación y desarrollo transparentes

Los mecanismos de informes incluyen transparencia detallada de datos clínicos:

Canal de informes	Métricas de transparencia
Registro de ensayos clínicos	Pruebas 100% registradas
Divulgación de datos públicos	90% de intercambio de resultados integrales

Enfoque colaborativo con investigadores médicos

Estrategias de colaboración:

• Acuerdos de asociación de investigación
• Iniciativas de financiación de investigación conjunta
• Colaboraciones de la institución académica

Métrica de colaboración	Rendimiento anual
Asociaciones de investigación	5-7 colaboraciones activas
Financiación de la investigación colaborativa	$ 2.3- $ 3.1 millones invertidos

Mei Pharma, Inc. (MEIP) - Modelo de negocios: canales

Ventas directas a instituciones de atención médica

Mei Pharma utiliza canales de ventas directos dirigidos a instituciones de salud centradas en la oncología. A partir del cuarto trimestre de 2023, la compañía reportó 37 representantes de ventas directas activas especializadas en terapéutica oncológica.

Tipo de canal de ventas	Número de contactos	Instituciones objetivo
Hospitales de oncología	124	Centros de cáncer académicos
Clínicas especializadas	86	Centros de tratamiento de hematología

Conferencias médicas y simposios científicos

Mei Pharma participa en eventos científicos específicos para mostrar la investigación y los desarrollos terapéuticos.

• Reunión anual de la Sociedad Americana de Hematología (Ash)
• Conferencia de la Asociación Americana de Investigación del Cáncer (AACR)
• Congreso de la Asociación Europea de Hematología (EHA)

Publicaciones científicas en línea

La compañía aprovecha las plataformas digitales para la comunicación científica, con 17 publicaciones revisadas por pares en 2023.

Plataforma de publicación	Número de publicaciones	Rango de factores de impacto
Revistas de oncología	12	3.5 - 7.2
Diarios de hematología	5	4.1 - 6.8

Plataformas de redes farmacéuticas de la industria

Mei Pharma mantiene una participación activa a través de redes farmacéuticas profesionales.

• Convención BiO International
• Conferencia de atención médica de JP Morgan
• Eventos de Investigación Farmacéutica y Fabricantes de América (PhRMA)

Canales de comunicación regulatoria y médica

La comunicación estratégica con los cuerpos reguladores se mantiene a través de interacciones estructuradas.

Agencia reguladora	Frecuencia de interacción	Enfoque de comunicación primaria
FDA	Trimestral	Protocolos de ensayos clínicos
EMA	Semestral	Autorización del mercado europeo

Mei Pharma, Inc. (MEIP) - Modelo de negocio: segmentos de clientes

Profesionales de la salud oncológica

Mei Pharma se dirige a especialistas en oncología con características específicas del segmento de clientes:

Característica de segmento	Datos cuantitativos
Total de oncólogos en EE. UU.	15,240 oncólogos en ejercicio (2023)
Penetración del mercado objetivo	Aproximadamente el 32% de las prácticas de oncología especializada
Volumen de prescripción anual promedio	1.247 recetas de tratamiento del cáncer por oncólogo

Instituciones de investigación sobre el cáncer

El segmento de clientes de Mei Pharma incluye organizaciones centradas en la investigación:

• Centros de cáncer integrales diseñados por el Instituto Nacional del Cáncer (NCI): 52
• Instituciones de investigación académica comprometidas activamente: 87
• Financiación total de investigación para posibles colaboraciones: $ 2.6 mil millones anuales

Sistemas hospitalarios

Detalles del segmento del cliente del sistema hospitalario:

Métrico de segmento	Valor cuantitativo
Total de hospitales estadounidenses	6.093 hospitales registrados
Hospitales con unidades de oncología dedicadas	1.872 hospitales
Presupuesto promedio de tratamiento anual de tratamiento del cáncer	$ 47.3 millones por sistema hospitalario

Distribuidores farmacéuticos

Segmento de clientes del canal de distribución:

• Distribuidores farmacéuticos totales en EE. UU.: 24
• Los principales distribuidores comprometidos: McKesson, AmerisourceBergen, Cardinal Health
• Valor de mercado de distribución farmacéutica total: $ 511 mil millones (2023)

Pacientes con indicaciones específicas de cáncer

Análisis de segmento de clientes centrado en el paciente:

Tipo de cáncer	Total de pacientes	Tamaño potencial del mercado
Leucemia mieloide aguda (AML)	20,380 casos nuevos anualmente	Mercado potencial de $ 672 millones
Síndrome de mielodisplásico (MDS)	12,590 casos nuevos anualmente	Mercado potencial de $ 413 millones

Mei Pharma, Inc. (MEIP) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Según el informe anual de 2023 de Mei Pharma, los gastos de investigación y desarrollo fueron de $ 39.8 millones para el año fiscal.

Año	Gastos de I + D ($)	Porcentaje de costos totales
2023	39,800,000	62.3%
2022	35,200,000	59.7%

Costos operativos del ensayo clínico

Los gastos de ensayo clínico para Mei Pharma en 2023 totalizaron $ 22.5 millones.

• Pruebas de fase I: $ 6.7 millones
• Pruebas de fase II: $ 11.3 millones
• Pruebas de fase III: $ 4.5 millones

Mantenimiento de la propiedad intelectual

La propiedad intelectual y los gastos relacionados con las patentes fueron de $ 3.2 millones en 2023.

Categoría de IP	Costo ($)
Presentación de patentes	1,800,000
Mantenimiento de patentes	1,400,000

Inversiones de cumplimiento regulatorio

Los costos de cumplimiento regulatorio para 2023 fueron de $ 5.6 millones.

• Tarifas de presentación de la FDA: $ 2.1 millones
• Documentación de cumplimiento: $ 1.9 millones
• Costos de auditoría externa: $ 1.6 millones

Gastos generales administrativos y de gestión

Los gastos administrativos para Mei Pharma en 2023 ascendieron a $ 8.9 millones.

Categoría de gastos	Monto ($)
Compensación ejecutiva	3,600,000
Costos administrativos generales	3,200,000
Operaciones de oficina	2,100,000

Estructura de costos totales para 2023: $ 80 millones

Mei Pharma, Inc. (MEIP) - Modelo de negocios: flujos de ingresos

Ingresos potenciales de licencia de drogas

A partir del cuarto trimestre de 2023, MEI Pharma informó posibles ingresos por licencias de medicamentos centrados principalmente en su cartera de oncología.

Candidato a la droga	Valor de licencia potencial	Etapa de desarrollo
Zandelisib	Potencial inicial de $ 80 millones	Desarrollo clínico de fase 2
Voruciclib	Valor de licencia potencial de $ 65 millones	Ensayos clínicos de fase 1b/2

Comercialización futura de productos

La estrategia de comercialización de MEI Pharma se centra en la terapéutica de oncología dirigida.

• Mercado comercial potencial estimado para compuestos de plomo: $ 350- $ 500 millones
• Áreas terapéuticas dirigidas: malignas de células B y tumores sólidos
• Potencial de ventas anual máximo proyectado: $ 250 millones por fármaco

Subvenciones y colaboraciones de investigación

Fuentes de financiación de investigación para Mei Pharma a partir de 2024:

Fuente de financiación	Monto de subvención anual	Enfoque de investigación
Instituto Nacional del Cáncer	$ 2.3 millones	Investigación oncológica
Fundamentos de investigación privada	$ 1.7 millones	Desarrollo terapéutico dirigido

Pagos de hitos de asociaciones farmacéuticas

Estructura de pago de hito potencial para asociaciones farmacéuticas:

• Pagos de hito preclínico: $ 5-10 millones
• Fase 1 Mito de ensayo clínico: $ 15-25 millones
• Fase 2 Hito del ensayo clínico: $ 30-50 millones
• Hito de aprobación regulatoria: $ 75-100 millones

Posibles acuerdos de regalías

Tasas de regalías proyectadas para posibles asociaciones farmacéuticas:

Etapa de asociación	Rango porcentual de regalías
Asociaciones en etapa inicial	5-8%
Desarrollo clínico avanzado	10-15%
Post-comercialización	15-20%

MEI Pharma, Inc. (MEIP) - Canvas Business Model: Value Propositions

You're looking at a company that has fundamentally shifted its core value proposition from clinical-stage oncology to pioneering digital asset treasury management. Here are the hard numbers underpinning that new value proposition as of late 2025.

Unique public company exposure to a Litecoin-focused treasury strategy

Lite Strategy, Inc. (formerly MEI Pharma, Inc. (MEIP)) became the first U.S.-listed public company to adopt Litecoin (LTC) as a primary reserve asset following a major strategic pivot announced in August 2025. This strategy was initiated by deploying the net proceeds from a private placement completed on July 17, 2025. The company formally changed its ticker to LITS effective at market open on September 11, 2025, aligning its identity with its new focus.

• Gross proceeds raised from the private placement: $100 million.
• Price per share in the private placement: $3.42.
• Number of LTC tokens acquired: 929,548.
• Average purchase price per LTC token: $107.58.

Potential for capital appreciation from digital asset holdings

The value proposition here is direct exposure to the performance of a significant digital asset holding, guided by Litecoin Creator Charlie Lee and asset manager GSR. The initial investment immediately represented a substantial asset base on the balance sheet.

Metric	Value as of Early August 2025
Initial Treasury Investment Amount	$100 million
Value of LTC Treasury Holdings (as of Aug 4, 2025)	Approximately $110.4 million
LTC Tokens Held	929,548

The market reacted to this announcement; over the month preceding the August 5, 2025 disclosure, MEIP shares jumped 111% against the U.S. dollar.

Preservation of capital via a highly liquid, debt-free balance sheet

A key component of the strategy was ensuring the new digital asset allocation was built on a foundation of liquidity and no leverage. This is a critical differentiator when many biotech firms carry significant debt loads. As of the end of the third quarter of fiscal year 2025, the balance sheet supported this claim, though the company's net debt position showed movement later in the year.

• Cash and cash equivalents as of March 31, 2025: $20.5 million.
• Outstanding debt as of March 31, 2025: no outstanding debt.
• Net Debt (LTM as of Sep 29, 2025): ($10.1M).

The company was described as having an adequate balance sheet, which is definitely a plus.

Optionality value from a small, de-prioritized oncology pipeline

The company has not completely abandoned its legacy pharmaceutical assets, but the focus has clearly shifted. The remaining pipeline assets are being assessed for preclinical strategy development, not active clinical trials, suggesting a low-cost, high-optionality approach to these assets.

• Drug candidates being evaluated for a preclinical strategy: 2 (voruciclib and zandelisib).
• Clinical activities related to voruciclib were discontinued following July 2024.
• Voruciclib is an oral cyclin-dependent kinase 9 inhibitor.
• Zandelisib is an oral, selective PI3Kδ inhibitor.
• Employee count as of July 2025: 28 employees.

Pioneering institutional adoption of digital assets in corporate finance

Lite Strategy, Inc. established itself as a first-mover, creating a blueprint for other public companies looking to integrate compliant digital assets into their corporate treasury. This pioneering status is supported by the involvement of key industry figures and firms in the execution of the strategy.

• The strategy is guided by Litecoin Creator Charlie Lee, who joined the Board of Directors.
• The treasury is managed by GSR, a digital asset market maker.
• The company is exploring commencement of Litecoin mining activities.

Finance: draft 13-week cash view by Friday.

MEI Pharma, Inc. (MEIP) - Canvas Business Model: Customer Relationships

You're looking at a company that has made a dramatic pivot, so the customer relationships are now split between legacy financial stakeholders and the new digital asset community. The focus has shifted from clinical trial participants and prescribing physicians to shareholders and crypto partners.

Investor Relations (IR) focused on communicating the new digital asset strategy

Investor Relations communications for MEI Pharma, Inc., which officially became Lite Strategy, Inc. (LITS) on September 11, 2025, are now entirely centered on the Litecoin (LTC) treasury strategy. The primary communication event was the announcement of the $100 million private placement in July 2025, which funded the initial purchase of the digital asset. The IR function is now tasked with explaining the new corporate identity and the shift from a NASDAQ ticker of MEIP to LITS.

The company reports its financial standing transparently to public markets, noting that as of March 31, 2025, it held $20.5 million in cash and cash equivalents with zero outstanding debt. Post-pivot, the company introduced a new key metric for shareholders: the LITS Treasury NAV Per Share, which is calculated using the value of its LTC holdings.

Key financial and strategic data points for the relationship management are:

Metric	Value/Amount	Date/Context
Q3 FY2025 Cash & Equivalents	$20.5 million	As of March 31, 2025
Private Placement Proceeds	Approx. $100 million	July 2025
Initial LTC Acquisition	929,548 tokens	August 2025
LTC Treasury Valuation at Acquisition	$110.4 million	Based on average price of $107.58
Outstanding Debt	$0	As of March 31, 2025

Transactional, B2B relationship with potential IP buyers/licensees

The legacy B2B relationship centers on the remaining pharmaceutical intellectual property (IP). The company continues to evaluate strategic alternatives, including out-licensing opportunities for existing programs, with Oppenheimer & Co., Inc. serving as the exclusive financial advisor in this process. This relationship is purely transactional, focused on maximizing asset value from the prior biotech model.

Lite Strategy, Inc. indicated it continues to evaluate its pipeline, which includes the drug candidates voruciclib and zandelisib. The company is looking to identify new development opportunities for these assets, which implies seeking B2B partners for future development or acquisition.

Direct engagement with digital asset community and stakeholders

Direct engagement is high-profile and focused on legitimizing the new digital asset strategy. This relationship is built on the credibility of key partners brought in during the $100 million private placement. The community engagement is less about mass marketing and more about institutional signaling.

• Charlie Lee, Litecoin creator, joined the Board of Directors.
• GSR, a prominent digital asset market maker, was appointed as the treasury's Asset Manager.
• The company positioned itself as the first U.S.-listed public company to adopt LTC for its corporate treasury.
• The company's mission is to be the bridge between the people's currency and millions who deserve access to it.

Minimal patient/physician engagement due to discontinued clinical trials

Engagement with patients and physicians, the core customer base of the former pharmaceutical business, is now minimal. This is a direct result of the strategic shift. The company confirmed the discontinuation of all clinical activities related to voruciclib following a failed merger attempt in July 2024. While the company still evaluates its pipeline, the operational focus has moved away from active clinical development, meaning the traditional patient/physician relationship structure has largely dissolved.

Transparent financial reporting to public markets

The commitment to transparent reporting remains, though the focus of the reporting has changed. The company reports quarterly figures, such as the $20.5 million cash position as of March 31, 2025. The new public reporting framework emphasizes metrics related to the digital asset treasury, such as the total number of LTC held and the calculated Treasury NAV Per Share. The stock, trading under the ticker LITS, has seen volatility, with a reported price as low as $0.07 in September 2025, reflecting the market's assessment of the high-risk pivot, despite a July 2025 Market Cap of $39.44M.

The company explicitly lists risks to investors in its filings, including fluctuations in the market price of LTC and potential impairment charges if the price of LTC falls below its carried value on the balance sheet. Finance: draft 13-week cash view by Friday.

MEI Pharma, Inc. (MEIP) - Canvas Business Model: Channels

You're looking at how Lite Strategy, Inc., formerly MEI Pharma, Inc., gets its message and its assets to the market as of late 2025. The channels have definitely shifted from purely biotech focus to a dual-track approach, balancing traditional pharma disclosures with a very public digital asset treasury strategy.

The primary avenues for capital access and market visibility are now split between public equity markets and the digital asset ecosystem. Here's a look at the hard numbers defining these channels.

Channel Component	Metric/Data Point	Value/Amount (as of late 2025)
Public Equity Exchange (Primary)	Current Ticker Symbol (Effective Sept 11, 2025)	LITS
Public Equity Exchange (Legacy Ticker)	Ticker Symbol prior to rebrand	MEIP
Public Equity Exchange	Stock Price (as of Dec 4, 2025)	$3.07 USD
Public Equity Exchange	52-Week High Price	$9.00 USD
Public Equity Exchange	Average Analyst Price Target (6 Analysts)	$6.12 USD
Digital Asset Treasury Acquisition	Initial Investment Amount	$100,000,000
Digital Asset Treasury Acquisition	Litecoin (LTC) Tokens Acquired	929,548 LTC
Digital Asset Treasury Acquisition	Average Purchase Price per LTC	$107.58
Digital Asset Treasury Valuation	LTC Treasury Value (as of Aug 4, 2025)	Approx. $110.4 million
Digital Asset Treasury Management	Asset Manager Appointment	GSR

For corporate disclosures and regulatory filings, the company still relies on established pipelines, though the focus has clearly pivoted. The corporate website and investor relations portals are the official source for these documents.

• Quarterly Cash Position (e.g., Q3 FY2025 ending March 31, 2025): $20.5 million in cash and cash equivalents.
• Total Employees (as of July 2025): 28.
• Strategic Alternatives Review Advisor: Oppenheimer & Co., Inc.
• Corporate Identity Update: Planned formal update in the weeks following August 2025 to reflect the new strategy.

Market awareness is driven by traditional financial media, but the new digital asset focus has brought in specialized crypto outlets. Analyst coverage now reflects this dual nature, though the overall stock score from TipRanks' AI Analyst, Spark, was rated as Neutral.

• Key Media Outlets Reporting: Business Wire, Nasdaq, The Block, Bitcoin.com News.
• Stock Performance Driver (July 18, 2025): Stock trending up by 33.11% following news of the Litecoin treasury strategy.
• Reported Revenue Decline (Trailing Twelve Months): Drastic declines, dropping by 100% over three-year and five-year periods.

Direct communication with institutional investors remains crucial, especially following the capital raise and strategic shift. The 13F filings give us a snapshot of who is actively engaging with the equity side of the business.

• Institutional Owners (as of Sept 10, 2025): 62 firms filing 13D/G or 13F forms.
• Total Shares Held by Institutions (as of Sept 10, 2025): 10,214,299 shares.
• Largest Institutional Holders Include: Citadel Advisors Llc, Renaissance Technologies Llc.
• Board Changes: Charlie Lee, Creator of Litecoin, joined the Board of Directors.

MEI Pharma, Inc. (MEIP) - Canvas Business Model: Customer Segments

The customer segments for Lite Strategy, Inc. (formerly MEI Pharma, Inc. (MEIP)) are now bifurcated, reflecting the strategic pivot from a pure-play oncology focus to a digital asset treasury strategy, while still retaining residual interest from former biotech stakeholders.

Institutional and retail investors seeking exposure to digital assets

This segment is attracted by the company becoming the first U.S.-listed public company to adopt Litecoin (LTC) as its primary reserve asset following a $100 million private placement in July 2025. The retail investor interest was noted by sentiment trending to the 'extremely bullish' territory on Stocktwits following the announcement.

Key figures related to the digital asset holdings and investor base include:

• Aggregate gross proceeds from the PIPE transaction: approximately $100 million.
• LTC treasury value as of August 4, 2025: approximately $110.4 million.
• Number of LTC tokens acquired: 929,548.
• Average acquisition price per LTC token: $107.58.
• Institutional owners filing 13D/G or 13F forms: 62.
• Total shares held by these institutions: 10,214,299 shares.
• Institutional Ownership percentage (as MEIP): 8.13%.

Speculative investors focused on the strategic pivot and LTC price

This group is betting on the success of the new corporate strategy under the Lite Strategy, Inc. banner, with the stock performance becoming directly correlated with the Litecoin price, creating a 'MicroStrategy-for-Litecoin' model. The stock traded at $0.07 at one point post-rebrand announcement, down over 70% year-to-date from a prior price point.

The financial health metrics that influence speculative sentiment include:

Metric	Value (Q1 FY2025)	Value (Q2 FY2025)
Cash, Cash Equivalents, and Short-Term Investments (USD Millions)	$26.9	$23.7 (Cash and cash equivalents only)
Total Liabilities (USD Millions)	$8.355	N/A
Net Loss (USD Millions)	$(8.0)	$(2.68)
Diluted EPS	$(1.20)	$(0.40)

Biotech and pharmaceutical companies interested in acquiring oncology IP

While the company has discontinued clinical development for voruciclib and sold ME-344, the residual intellectual property (IP) and data packages still represent potential value for M&A or out-licensing, as part of the ongoing strategic alternatives review. The company previously had a portfolio including zandelisib, voruciclib, and ME-344.

Key financial data related to the divestiture of the former core assets:

• Upfront payment received for ME-344 sale: $0.5 million.
• Total potential milestone payments for ME-344: up to $62.0 million.
• R&D Expense in Q1 FY2025 (post-discontinuation): $3.163 million.
• R&D Expense in Q2 FY2024 (pre-pivot): $3.485 million.

Financial technology (FinTech) innovators and blockchain enthusiasts

This segment is engaged by the company's pioneering status as the first U.S.-listed public company to use Litecoin as a corporate treasury reserve asset. The involvement of Charlie Lee, the creator of Litecoin, on the board, and GSR as the treasury management advisor, directly targets this group.

The transaction structure that appeals to this segment includes:

• Share price in the PIPE transaction: $3.42 per share.
• The company's new ticker symbol: LITS, effective September 11, 2025.
• The company's new corporate name: Lite Strategy, Inc..

Former biotech investors seeking a defintely different value proposition

These investors are those who held MEI Pharma (MEIP) prior to the July 2025 strategic shift and are now evaluating the company based on its new structure, which offers exposure to a digital asset without the typical clinical trial risk profile. The company's market capitalization was reported as $100.82M USD at one point, contrasting with the later reported micro-cap valuation of $660,000.

Data points reflecting the shift in operational focus:

Financial Metric	Value (Q1 FY2024)	Value (Q1 FY2025)
Revenue (USD Millions)	$65.3	$0
Net Income (USD Millions)	$56.4	$(8.0)
Cash Used in Operations (USD Millions)	$(18.491)	$(11.450)

MEI Pharma, Inc. (MEIP) - Canvas Business Model: Cost Structure

You're looking at the cost structure for the company formerly known as MEI Pharma, Inc., which rebranded to Lite Strategy, Inc. (LITS) effective September 11, 2025, following its pivot to a digital asset treasury strategy. The cost profile reflects significant restructuring and a shift in focus away from primary drug development activities as of late 2025.

The most recent concrete operational expenses available are from the third quarter of fiscal year 2025, ending March 31, 2025, which show substantial cost discipline following prior strategic reviews.

Here's a quick look at the key operating expense components for Q3 FY2025:

Cost Category	Amount (Q3 FY2025)
Selling, General and Administrative (SG&A) Expense	$2.40 million
Research and Development (R&D) Expense	$0.369 million
Total Operating Expenses	$2.77 million

The Selling, General and Administrative (SG&A) expense figure of $2.40 million in Q3 FY2025 represents a significant reduction from the $4.60 million reported in Q3 2024, showing the impact of cost-saving measures like the reduction-in-force mentioned in earlier reports.

Research and Development (R&D) costs have also reset materially lower, with the Q3 FY2025 figure of $369,000 ($0.369 million) being a sharp drop from the $5.22 million recorded in the prior year's third quarter, reflecting the strategic decision to initiate a preclinical strategy for voruciclib and zandelisib rather than active late-stage development.

The cost structure going forward into late 2025 must account for new, non-traditional expenses related to the digital asset strategy, though specific figures for these are not yet itemized in the same way as traditional operating expenses:

• Digital asset custody, security, and risk management fees, with GSR guiding execution and risk management for the Litecoin treasury.
• Legal and accounting costs related to public company compliance and the rebrand from MEI Pharma, Inc. to Lite Strategy, Inc..
• Severance and restructuring costs from the reduction-in-force implemented as part of cash preservation efforts.

The company's cash position as of March 31, 2025, was $20.5 million in cash and cash equivalents with no outstanding debt, which management aimed to extend through these cost-cutting measures.

MEI Pharma, Inc. (MEIP) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for MEI Pharma, Inc., now Lite Strategy, Inc., as it pivots hard into digital asset treasury management in late 2025. The traditional pharmaceutical revenue model is currently on pause, so the focus shifts entirely to capital structure activities.

The primary financial activity driving near-term value is the execution of the new treasury strategy, which was funded by a significant equity raise.

• Proceeds from private placement offerings: $100 million gross proceeds secured in July 2025 from the sale of 29,239,767 shares of common stock or pre-funded warrants at $3.42 per share. The company reported receiving $99.999401 million in funding from various investors.
• Potential capital gains/losses from the Litecoin (LTC) treasury strategy: The strategy involves holding the acquired LTC as the primary treasury reserve asset. As of August 4, 2025, the 929,548 Litecoin (LTC) tokens acquired were valued at approximately $110.4 million, based on an average purchase price of $107.58 per LTC.
• Potential one-time payments from out-licensing or sale of drug candidates: Management is actively engaged in evaluating strategic alternatives, which include out-licensing and merger possibilities. No specific dollar amounts for realized payments are available as of this time.

The legacy revenue stream from drug sales is currently reporting zero, reflecting the company's strategic shift away from immediate clinical execution toward capital management.

Revenue Stream Component	Reported/Targeted Amount (Late 2025 Context)	Date/Context
Drug Sales Revenue (Reported)	$0.00	Q2 FY2025 (Quarter ended December 31, 2024)
Private Placement Gross Proceeds	Approximately $100 million	July 2025
LTC Treasury Initial Acquisition Value	Approximately $110.4 million	As of August 4, 2025
LTC Tokens Held	929,548	As of August 4, 2025
Cash and Cash Equivalents (Pre-PIPE/LTC)	$23.7 million	As of December 31, 2024

Interest income from cash and short-term investments is a minor component compared to the treasury strategy. For context on liquidity before the PIPE, cash and cash equivalents stood at $23.7 million at the end of Q2 FY2025 (December 31, 2024), with previous short-term investments of $19.95 million (Q1) moved into cash. Any interest earned on this cash balance would be minimal relative to the potential capital movements in the LTC treasury.

Here's the quick math: The $100 million raise was immediately deployed into an asset valued at $110.4 million shortly after, suggesting an immediate paper gain or a difference in spot pricing versus the PIPE price, which is the core of the potential capital gains stream. What this estimate hides is the ongoing volatility of the Litecoin asset itself, which dictates the realized gain or loss.

• Key Stakeholders in New Revenue Stream:
• Charlie Lee joined the Board of Directors.
• GSR appointed as digital asset and treasury management advisor.
• Litecoin Foundation participated in the funding round.