$3.070
+0.320 (+10.43%)At close
MEIP News
MEIP Events
MEI Pharma Rebrands as Lite Strategy
MEI Pharma announced that it will change its corporate name to Lite Strategy. Alongside the rebrand, the company's ticker symbol on the Nasdaq Stock Market will transition from MEIP to LITS, effective at market open on September 11.
Significant Borrowing Rate Hikes Among Liquid Assets
Latest data shows the largest indicative borrow rate increases among liquid option names include: Upexi (UPXI) 475.77% +32.39, MEI Pharma (MEIP) 159.91% +24.32, ChargePoint Holdings (CHPT) 44.05% +0.67, Voyager Technologies, Inc./De (VOYG) 2.81% +0.64, T-REX 2X LONG NVIDIA DAILY (NVDX) 13.93% +0.54, Beyond Meat (BYND) 27.87% +0.46, Arbor Realty (ABR) 3.91% +0.42, Icahn Enterprises (IEP) 13.91% +0.40, Vor Biopharma (VOR) 123.58% +0.40, and US Global Jets ETF (JETS) 10.18% +0.28.
MEI Pharma to sell 29.24M shares at $3.42 in private placement
MEI Pharma announced that it has entered into securities purchase agreements for a private investment in public equity for the purchase and sale of 29,239,767 shares of common stock at a price of $3.42 per share, for expected aggregate gross proceeds of approximately $100M, before deducting placement agent fees and other estimated offering expenses. In connection with the closing of the transaction, MEI will appoint Charlie Lee to its board of directors and GSR as its digital asset and treasury management advisor to oversee the implementation of its Litecoin Treasury Strategy. Charlie Lee and GSR acted as lead investors, alongside participation from the Litecoin Foundation as well as prominent crypto venture capital firms and infrastructure providers including Mozayyx, ParaFi, Hivemind, Primitive, RLH Capital, Delta Blockchain & CoinFund, among others. The closing of the PIPE is expected to occur on or about July 22, subject to the satisfaction of customary closing conditions. The company intends to use the funds to acquire the native cryptocurrency of the Litecoin blockchain, which will serve as the company's primary treasury reserve asset.
MEI Pharma reports Q3 EPS (39c) vs ($1.37) last year
As previously announced in July 2024, the Company is continuing its review and evaluation of potential strategic alternatives. As part of this assessment, the Company is considering options such as out-licensing opportunities for existing programs and merger and acquisition opportunities, with the goal of maximizing the value of its assets for its stockholders. Oppenheimer & Co., Inc. is serving as the Company's exclusive financial advisor in this process. Through the third quarter of fiscal year 2025, the Company's cash preservation efforts continue and include a reduction-in-force progressing in stages as the Company's operational and strategic direction evolves. As of March 31, 2025, the Company had $20.5 million in cash and cash equivalents with no outstanding debt.
MEI Pharma reports Q1 EPS ($1.20) vs. $8.46 last year
As of September 30, MEI had $26.9M in cash, cash equivalents, and short-term investments with no outstanding debt. The company said, "As previously announced in July 2024, the Company is continuing its review and evaluation of potential strategic alternatives. In the review, the Company continues to consider options such as out-licensing opportunities for existing programs and merger and acquisition opportunities, with the goal of maximizing the value of its assets for its stockholders. Oppenheimer & Co., Inc. is serving as the Company's exclusive financial advisor in this process. During the first quarter of fiscal year 2025, the Company commenced cash preservation efforts that include a reduction-in-force, which will continue in stages as the Company's operational and strategic direction evolves. There can be no assurance the exploration of strategic alternatives will result in any agreements or transactions, or, if completed, any agreements or transactions will be successful or on attractive terms. The Company does not expect to disclose developments with respect to this process unless or until the evaluation of strategic alternatives has been completed or the Board of Directors has concluded disclosure is appropriate or legally required."
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