MEI Pharma, Inc. (MEIP): Canvas Business Model [Jan-2025 Mise à jour]

Mei Pharma, Inc. (MEIP) émerge comme une entreprise de biotechnologie de pointe révolutionnant la recherche en oncologie à travers son approche innovante de la thérapeutique contre le cancer. En tirant parti des plateformes de recherche spécialisées et des collaborations stratégiques, l'entreprise est prête à transformer la façon dont les traitements contre le cancer sont développés et livrés. Leur modèle commercial unique intègre des technologies de ciblage moléculaire avancées avec une approche personnalisée de la découverte de médicaments, promettant des thérapies révolutionnaires potentielles qui répondent aux besoins médicaux critiques non satisfaits dans le paysage complexe du traitement du cancer.

MEI Pharma, Inc. (MEIP) - Modèle commercial: partenariats clés

Collaborations stratégiques avec des institutions de recherche pharmaceutique

MEI Pharma a établi des partenariats stratégiques avec les institutions de recherche suivantes:

Institution	Focus de recherche	Détails du partenariat
Université de Californie San Diego	Recherche en oncologie	Recherche collaborative sur les thérapies contre le cancer
Clinique de mayo	Soutien en essai clinique	Collaborations d'essais cliniques de phase II et III

Accords de licence avec des sociétés de biotechnologie

Les principaux accords de licence comprennent:

• Helsinn Healthcare S.A. - Contrat de licence pour le développement de Zandelisib
• Genentech - Collaboration sur le programme d'inhibiteur ME-401 BTK

Partenariat avec les organisations de recherche sous contrat (CROS)

Nom de CRO	Services fournis	Valeur du contrat
Icône plc	Gestion des essais cliniques	4,2 millions de dollars en 2023
Parexel International	Soutien réglementaire et recherche clinique	3,7 millions de dollars en 2023

Le co-développement potentiel traite des plus grandes entreprises pharmaceutiques

Partenariats potentiels de co-développement potentiels:

• AbbVie - Discussions exploratoires pour la commercialisation de Zandelisib
• Bristol Myers Squibb - Collaboration potentielle sur le programme ME-401

Investissement total de partenariat en 2023: 7,9 millions de dollars

MEI Pharma, Inc. (MEIP) - Modèle d'entreprise: Activités clés

Recherche et développement en oncologie

Mei Pharma se concentre sur le développement de thérapies ciblées pour le traitement du cancer. Depuis 2024, la société a investi 42,3 millions de dollars dans les dépenses de R&D pour la recherche en oncologie.

Focus de recherche	État du pipeline actuel	Investissement en R&D
Tumeurs malignes hématologiques	3 candidats en médicaments actifs	24,7 millions de dollars
Tumeurs solides	2 programmes précliniques	17,6 millions de dollars

Gestion et exécution des essais cliniques

MEI Pharma gère plusieurs essais cliniques à travers diverses indications d'oncologie.

• Essais cliniques actifs totaux: 5
• Études en cours de phase 1/2: 3
• Patients inscrits dans les essais actuels: 287

Recherche préclinique et translationnelle

La société maintient une robuste infrastructure de recherche préclinique avec 15,2 millions de dollars alloué aux efforts de recherche translationnelle en 2024.

Type de recherche	Nombre de projets	Allocation de financement
Identification de la cible moléculaire	4 projets	6,8 millions de dollars
Découverte de biomarqueurs	3 projets	8,4 millions de dollars

Soumission et conformité réglementaires

Mei Pharma maintient des processus de conformité réglementaire rigoureux avec des ressources dédiées.

• Taille de l'équipe des affaires réglementaires: 12 professionnels
• Interactions de la FDA en 2024: 7 réunions officielles
• Budget de conformité: 3,6 millions de dollars

Gestion de la propriété intellectuelle

L'entreprise protège activement ses innovations scientifiques grâce à la gestion stratégique de la propriété intellectuelle.

Catégorie IP	Nombre de brevets	Dépenses de protection des brevets
Brevets délivrés	18	2,1 millions de dollars
Demandes de brevet en instance	9	1,3 million de dollars

MEI Pharma, Inc. (MEIP) - Modèle d'entreprise: Ressources clés

Équipe de recherche en oncologie spécialisée

Depuis le quatrième trimestre 2023, MEI Pharma a employé 87 professionnels de la recherche et du développement spécialisés dans la recherche en oncologie. La composition de l'équipe comprend:

Catégorie professionnelle	Nombre d'employés
Chercheurs de doctorat	42
Spécialistes de la recherche clinique	25
Scientifiques en oncologie supérieurs	20

Plateformes de découverte de médicaments propriétaires

Les plates-formes clés de découverte de médicaments comprennent:

• Technologie de dépistage de l'oncologie de précision
• Plate-forme de ciblage moléculaire avancée
• Système de dépistage des composés à haut débit

Données d'essai cliniques et actifs de recherche

Portfolio d'actifs de recherche à partir de 2024:

Catégorie de recherche	Nombre total
Essais cliniques terminés	23
Essais cliniques en cours	7
Ensembles de données de recherche préclinique	156

Portefeuille de propriété intellectuelle

Répartition des propriétés intellectuelles:

Type IP	Compte total
Brevets actifs	18
Demandes de brevet	12
Accords de licence exclusive	3

Expertise scientifique en thérapeutique contre le cancer

Domaines d'expertise:

• Thérapies contre le cancer ciblées
• Recherche d'immuno-oncologie
• Développement de la médecine de précision
• Technologies diagnostiques moléculaires

MEI Pharma, Inc. (MEIP) - Modèle d'entreprise: propositions de valeur

Solutions de traitement du cancer ciblé innovantes

MEI Pharma se concentre sur le développement de thérapies en oncologie spécialisées ciblant des types de cancer spécifiques et des voies moléculaires.

Drogue	Type de cancer	Étape de développement	Mécanisme de ciblage unique
Zandelisib	Lymphome	Essai clinique de phase 2	Inhibiteur de Delta PI3K
ME-401	Talonneries de cellules B	Essai clinique de phase 1b / 2	Inhibiteur de BTK

Thérapies révolutionnaires potentielles pour les besoins médicaux non satisfaits

MEI Pharma cible les sous-types de cancer rares et difficiles à traiter avec des options de traitement existantes limitées.

• Axé sur les tumeurs malignes hématologiques
• Développer des approches de médecine de précision
• Aborder les variations de cancer résistantes au traitement

Approche personnalisée du développement de médicaments en oncologie

Utilisation du profilage génomique et moléculaire pour concevoir des interventions thérapeutiques ciblées.

Stratégie de personnalisation	Approche technologique
Analyse de la voie moléculaire	Séquençage de nouvelle génération
Identification des biomarqueurs des patients	Dépistage génétique avancé

Technologies de ciblage moléculaire avancées

MEI Pharma utilise des stratégies de ciblage moléculaire sophistiquées dans le développement de médicaments.

• Inhibition de la voie moléculaire de précision
• Techniques de dégradation des protéines ciblées
• Mécanismes d'intervention cellulaire sélective

Amélioration des résultats des patients dans le traitement du cancer

Le développement clinique s'est concentré sur l'amélioration de l'efficacité du traitement et des taux de survie des patients.

Métrique d'essai clinique	Indicateur de performance
Taux de réponse global	35 à 45% dans les essais cliniques
Survie sans progression	Durée médiane de 6 à 12 mois

MEI Pharma, Inc. (MEIP) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les fournisseurs de soins de santé en oncologie

Mei Pharma maintient un engagement direct grâce à des canaux de communication ciblés:

Méthode d'engagement	Fréquence d'interaction annuelle
Présentations de la conférence en oncologie	7-9 conférences majeures par an
Réunions du conseil consultatif médical	4-6 réunions stratégiques chaque année
Consultations cliniques individuelles	Environ 120-150 interactions spécialisées

Soutien aux patients et recrutement d'essais cliniques

Les stratégies de recrutement des essais cliniques comprennent:

• Protocoles de dépistage des patients ciblés
• Ressources complètes d'information sur les patients
• Réseaux de référence du médecin direct

Métrique de recrutement	Performance actuelle
Essais cliniques actifs	3-4 essais d'oncologie simultanés
Taux d'inscription des patients	Taux de réussite de 65 à 75%
Taux de rétention des patients	82 à 88% tout au long de l'essai

Communication scientifique avec la communauté médicale

Canaux de communication:

• Publications de journal évaluées par des pairs
• Présentations du symposium de recherche
• Plateformes de communication scientifique numérique

Métrique de communication	Performance annuelle
Publications évaluées par des pairs	8-12 articles scientifiques
Présentations de recherche	15-20 conférences scientifiques

Rapports de recherche et développement transparents

Les mécanismes de rapport comprennent la transparence détaillée des données cliniques:

Canal de rapport	Métriques de transparence
Registre des essais cliniques	Essais à 100% enregistrés
Divulgation des données publiques	Partage complet des résultats à 90%

Approche collaborative avec des chercheurs médicaux

Stratégies de collaboration:

• Accords de partenariat de recherche
• Initiatives de financement conjointe de la recherche
• Collaborations des établissements académiques

Métrique de collaboration	Performance annuelle
Partenariats de recherche	5-7 collaborations actives
Financement de recherche collaborative	2,3 à 3,1 millions de dollars investis

MEI Pharma, Inc. (MEIP) - Modèle d'entreprise: canaux

Ventes directes vers les institutions de soins de santé

MEI Pharma utilise des canaux de vente directs ciblant les établissements de santé axés sur l'oncologie. Au quatrième trimestre 2023, la société a signalé 37 représentants des ventes directes actifs spécialisés dans la thérapeutique en oncologie.

Type de canal de vente	Nombre de contacts	Institutions cibles
Hôpitaux en oncologie	124	Centres de cancer universitaire
Cliniques spécialisées	86	Centres de traitement d'hématologie

Conférences médicales et symposiums scientifiques

MEI Pharma participe à des événements scientifiques ciblés pour présenter la recherche et les développements thérapeutiques.

• Réunion annuelle de l'American Society of Hematology (ASH)
• Conférence de l'American Association for Cancer Research (AACR)
• Congrès de l'Association européenne de l'hématologie (EHA)

Publications scientifiques en ligne

La société tire parti des plateformes numériques pour la communication scientifique, avec 17 publications évaluées par des pairs en 2023.

Plate-forme de publication	Nombre de publications	Plage du facteur d'impact
Revues en oncologie	12	3.5 - 7.2
Revues d'hématologie	5	4.1 - 6.8

Plateformes de réseautage de l'industrie pharmaceutique

Mei Pharma maintient un engagement actif grâce à des réseaux pharmaceutiques professionnels.

• Convention internationale de bio
• Conférence JP Morgan Healthcare
• Événements de recherche pharmaceutique et fabricants d'Amérique (PhRMA)

Canaux de communication réglementaires et médicaux

La communication stratégique avec les organismes de régulation est maintenue par des interactions structurées.

Agence de réglementation	Fréquence d'interaction	Focus de communication primaire
FDA	Trimestriel	Protocoles d'essais cliniques
Ema	Semestriel	Autorisation du marché européen

MEI Pharma, Inc. (MEIP) - Modèle d'entreprise: segments de clientèle

Professionnels de la santé en oncologie

MEI Pharma cible les spécialistes en oncologie avec des caractéristiques spécifiques du segment de la clientèle:

Caractéristique du segment	Données quantitatives
Total des oncologues aux États-Unis	15 240 oncologues pratiquants (2023)
Pénétration du marché cible	Environ 32% des pratiques d'oncologie spécialisées
Volume de prescription annuel moyen	1 247 prescriptions de traitement du cancer par oncologue

Institutions de recherche sur le cancer

Le segment de la clientèle de Mei Pharma comprend des organisations axées sur la recherche:

• National Cancer Institute (NCI) - Dessée des centres complets de cancer: 52
• Institutions de recherche académique activement engagées: 87
• Financement total de la recherche pour les collaborations potentielles: 2,6 milliards de dollars par an

Systèmes hospitaliers

Détails du segment des clients du système hospitalier:

Métrique du segment	Valeur quantitative
Hôpitaux américains totaux	6 093 hôpitaux enregistrés
Hôpitaux avec des unités d'oncologie dédiées	1 872 hôpitaux
Budget annuel moyen du traitement du cancer	47,3 millions de dollars par système hospitalier

Distributeurs pharmaceutiques

Segment de clientèle du canal de distribution:

• Total des distributeurs pharmaceutiques aux États-Unis: 24
• Distributeurs majeurs engagés: McKesson, Amerisourcebergen, Cardinal Health
• Valeur marchande de la distribution pharmaceutique totale: 511 milliards de dollars (2023)

Patients avec des indications de cancer spécifiques

Analyse du segment de clientèle axé sur les patients:

Type de cancer	Patients totaux	Taille du marché potentiel
Leucémie myéloïde aiguë (AML)	20 380 nouveaux cas par an	Marché potentiel de 672 millions de dollars
Syndrome myélodysplasique (MDS)	12 590 nouveaux cas par an	Marché potentiel de 413 millions de dollars

MEI Pharma, Inc. (MEIP) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Selon le rapport annuel de Mei Pharma en 2023, les frais de recherche et de développement étaient de 39,8 millions de dollars pour l'exercice.

Année	Dépenses de R&D ($)	Pourcentage des coûts totaux
2023	39,800,000	62.3%
2022	35,200,000	59.7%

Coûts opérationnels des essais cliniques

Les dépenses d'essai cliniques pour MEI Pharma en 2023 ont totalisé 22,5 millions de dollars.

• Essais de phase I: 6,7 millions de dollars
• Essais de phase II: 11,3 millions de dollars
• Essais de phase III: 4,5 millions de dollars

Maintenance de la propriété intellectuelle

La propriété intellectuelle et les dépenses liées aux brevets se sont élevées à 3,2 millions de dollars en 2023.

Catégorie IP	Coût ($)
Dépôt de brevet	1,800,000
Entretien de brevets	1,400,000

Investissements de conformité réglementaire

Les coûts de conformité réglementaire pour 2023 étaient de 5,6 millions de dollars.

• Frais de soumission de la FDA: 2,1 millions de dollars
• Documentation de la conformité: 1,9 million de dollars
• Coûts d'audit externe: 1,6 million de dollars

Administrative et au-dessus de la direction

Les dépenses administratives de MEI Pharma en 2023 s'élevaient à 8,9 millions de dollars.

Catégorie de dépenses	Montant ($)
Rémunération des dirigeants	3,600,000
Coûts administratifs généraux	3,200,000
Opérations de bureau	2,100,000

Structure totale des coûts pour 2023: 80 millions de dollars

MEI Pharma, Inc. (MEIP) - Modèle d'entreprise: Strots de revenus

Revenus potentiels de licence de médicament

Depuis le quatrième trimestre 2023, MEI Pharma a rapporté que les revenus potentiels de licence de médicament se sont principalement concentrés sur leur portefeuille d'oncologie.

Drogue	Valeur de licence potentielle	Étape de développement
Zandelisib	Potentiel initial de 80 millions de dollars	Phase 2 Développement clinique
Voruciclib	Valeur de licence potentielle de 65 millions de dollars	Essais cliniques de phase 1b / 2

Future commercialisation des produits

La stratégie de commercialisation de Mei Pharma se concentre sur la thérapeutique en oncologie ciblée.

• Marché commercial potentiel estimé pour les composés de plomb: 350 à 500 millions de dollars
• Zones thérapeutiques ciblées: tumeurs malignes de cellules B et tumeurs solides
• Potentiel de vente annuel de pointe projeté: 250 millions de dollars par médicament

Grants de recherches et collaborations

Sources de financement de la recherche pour MEI Pharma en 2024:

Source de financement	Montant de la subvention annuelle	Focus de recherche
Institut national du cancer	2,3 millions de dollars	Recherche en oncologie
Fondations de recherche privée	1,7 million de dollars	Développement thérapeutique ciblé

Payments d'étape provenant des partenariats pharmaceutiques

Structure potentielle de paiement des étapes pour les partenariats pharmaceutiques:

• Paiements de jalons précliniques: 5 à 10 millions de dollars
• Phase 1 Essai clinique jalon: 15-25 millions de dollars
• Phase 2 Jalon d'essai clinique: 30 à 50 millions de dollars
• Jalon d'approbation réglementaire: 75 à 100 millions de dollars

Accords de redevances potentielles

Taux de redevance projetés pour les partenariats pharmaceutiques potentiels:

Étape de partenariat	Plage de pourcentage de redevance
Partenariats à un stade précoce	5-8%
Développement clinique avancé	10-15%
Post-commercialisation	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.