Lite Strategy Reports First Quarter Fiscal Year 2026 Results; Highlights Successful Launch of $100M Litecoin Treasury Strategy and Movement into Active Capital Market Operations

Rhea-AI Summary

Lite Strategy (NASDAQ: LITS) reported first quarter fiscal 2026 results and outlined a strategic pivot to a Litecoin-based digital asset treasury. Key actions include a $100 million PIPE raised in July 2025, the acquisition of 929,548 LTC tokens as a primary reserve asset, a strategic partnership with GSR, and a rebrand from MEIP to LITS with a new ticker and website.

The company also announced a $25 million share repurchase program, reported $12.21 million in working capital and no outstanding debt, and completed the sale of its clinical asset ME-344 (WE-868) to Aardvark Therapeutics.

Positive

• Raised $100 million in aggregate gross proceeds (PIPE) in July 2025
• Acquired 929,548 LTC tokens as primary reserve asset
• Announced $25 million share repurchase program
• Reported $12.21 million working capital and no outstanding debt
• Formed strategic partnership with GSR for treasury governance

Negative

• Completed sale of clinical asset ME-344 (WE-868), reducing in-house clinical pipeline
• Equity $100 million PIPE raises potential shareholder dilution

Insights

Strategic Capital Markets Analyst

Lite Strategy pivoted to a $100M Litecoin treasury and activated capital-market tools to monetize corporate assets in fiscal 2026.

The company raised $100 million in gross proceeds and acquired 929,548 LTC, positioning Litecoin as its primary reserve asset while rebranding to Lite Strategy (LITS). It closed a PIPE, documented a strategic partnership with GSR for treasury governance, and completed the sale of its clinical asset to seed the new strategy.

The plan moves the firm from clinical-asset ownership into active capital-market operations, including a $25 million share repurchase program and ongoing evaluation of remaining clinical programs such as pre-clinical work with voruciclib and potential licensing or sale of zandelisib. The company reports $12.21 million in working capital and no outstanding debt as of September 30, 2025.

Key dependencies and risks include successful execution of the digital-treasury strategy, governance and trading execution under the GSR partnership, and realization of value from remaining clinical assets; management also links buyback cadence to normalization of its discount to NAV. Watch developments across fiscal year 2026 for liquidity actions, repurchase activity, and any disclosed metrics on LTC holdings or realizations from licensing/sales within the next 12 months.

LITS Is the First and Only US Publicly Traded Company to Gain Institutional Exposure to LTC, Holding 929,548 LTC Tokens

SAN DIEGO, Nov. 17, 2025 (GLOBE NEWSWIRE) -- Lite Strategy, Inc. (NASDAQ: LITS) (“Lite Strategy” or “LITS”) today reported results for its first quarter ended September 30, 2025, and highlighted recent corporate events related to the Company’s digital asset treasury strategy as well as its pharmaceutical operations.

“Our first quarter was incredibly successful for LITS. We launched our digital treasury strategy, positioning ourselves as the leading public holder of LTC, and updated our corporate profile to reinforce our new focus,” Board Member Charlie Lee said. “We recently celebrated Litecoin’s 14th anniversary and its unblemished track record of reliability and uptime. LITS provides investors the only US publicly traded company to gain institutional exposure to Litecoin, both for portfolio diversification and long-term value.”

“Fiscal year 2026 will showcase the results of the transformative steps taken by Lite Strategy. Since the start of our strategic alternatives process in fiscal year 2025, we have prioritized maximizing the value of our assets for stockholders. Starting with the successful sale of our clinical asset, ME-344 (now known as WE-868), currently being developed for adults with obesity at Aardvark Therapeutics, and continuing through the close of our $100 million PIPE offering in July 2025 that kicked off our Litecoin digital asset treasury strategy in the first quarter of this fiscal year,” said Jay File, CEO, CFO.
      
First Quarter Fiscal Year 2026 and Recent Highlights

• Raised $100 million in aggregate gross proceeds, commencing the Company’s long-term strategic plan with Litecoin as a digital asset treasury reserve asset.
• Officially became the first U.S.-listed public company to adopt Litecoin as a primary reserve asset with the acquisition of 929,548 Litecoin (LTC) tokens, implementing a new strategy built on a digital asset infrastructure and long-term capital innovation.
• Entered into a strategic partnership with GSR, a leading crypto investment firm, to guide LITS’ digital asset treasury strategy, ensuring robust governance, execution, and market expertise.
• Brought on world-class board members, Charlie Lee, creator of Litecoin, and Joshua Riezman, U.S. Chief Strategy Officer at GSR.
• Rebranded from MEI Pharma to Lite Strategy, including changing the Company’s corporate name and NASDAQ Stock Market ticker from MEIP to LITS, and unveiling a new corporate logo and website. The rebranding underscores the Company’s commitment to building a long-term corporate strategy around LTC as its primary reserve asset.
• In October announced a $25 million share repurchase program, advancing LITS from the initial phase of Litecoin accumulation to active capital market operations and allowing LITS to leverage our nearly 1 million LTC treasury - a key differential from passive investment structures like exchange-traded funds.

“As we progress further into fiscal year 2026, we continue to evaluate our clinical assets including the commencement of pre-clinical studies with voruciclib in non-oncology disease indications for potential licensing to third parties, and pursuing licensing or sale opportunities with zandelisib,” said Jay File. “We will consider opportunities to deploy our recently announced $25 million stock buyback program until our discount to NAV is normalized. We look forward to executing on all our corporate objectives as we progress through fiscal year 2026.”

As of September 30, 2025, the Company had $12.21 million in working capital with no outstanding debt.

To learn more about Lite Strategy, visit the Company’s homepage at https://litestrategy.com.

To learn more about Litecoin and its role in Lite Strategy’s treasury, visit our About Litecoin page at https://litestrategy.com/about-litecoin/.

To learn more about the transaction with Aardvark, read our Form 8-K filing at https://investor.meipharma.com/sec-filings/sec-filing/8-k/0000950170-24-117406.

For current holdings and related Company metrics, visit Lite Strategy’s dashboard at https://litestrategy.com/dashboard/.

About Lite Strategy, Inc. (LITS)

Lite Strategy, Inc. (NASDAQ: LITS) is the first U.S. publicly traded company to adopt Litecoin as its primary reserve asset. Formerly MEI Pharma, the Company has expanded its business model beyond its portfolio of drug candidates to focus on pioneering institutional-grade digital asset treasury strategies, in partnership with leading innovators across blockchain, finance, and technology.

Forward-Looking Statements

Certain information contained in this press release that are not historical in nature are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding our future actions, prospective products and activities, future performance or results. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management’s current expectations and are subject to a number of risks and uncertainties, including, but not limited to, risk relating to being able to repurchase our shares in the market on attractive e terms or at all, maintaining our current listing on Nasdaq, our ability to retain and attract senior management and other key employees, fluctuations in the market price of LTC and any associated impairment charges that we may incur as a result of a decrease in the market price of LTC below the value at which LTC is carried on our balance sheet, changes in the accounting treatment relating to our LTC holdings, our ability to achieve profitable operations, government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services including our LTC treasury strategy, our ability to utilize our repurchase program, the demand for our products and our customers’ economic condition, the impact of competitive products and pricing, our proprietary rights, general economic conditions and other risk factors detailed in our annual report and other filings with the SEC. We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.

Contacts:

Justin J. File
CEO, CFO

858-369-7199
investor@litestrategy.com
Source: Lite Strategy, Inc.

FAQ

How many Litecoin tokens does Lite Strategy (LITS) hold as of Nov 17, 2025?

Lite Strategy holds 929,548 LTC tokens as its primary reserve asset.

How much capital did Lite Strategy (LITS) raise to start its Litecoin treasury strategy?

The company raised $100 million in aggregate gross proceeds via a PIPE in July 2025.

What is the size and purpose of the Lite Strategy (LITS) share repurchase program announced Oct 2025?

Lite Strategy announced a $25 million share repurchase program to deploy capital while its discount to NAV is evaluated.

What was Lite Strategy’s working capital and debt position as of Sept 30, 2025?

As of Sept 30, 2025 the company reported $12.21 million in working capital and no outstanding debt.

Did Lite Strategy (LITS) change its corporate name and ticker in 2025?

Yes, the company rebranded from MEIP to Lite Strategy and changed its NASDAQ ticker to LITS.

What happened to Lite Strategy’s clinical asset ME-344 (WE-868)?

ME-344 (now WE-868) was sold and is being developed by Aardvark Therapeutics for adults with obesity.