Lite Strategy, Inc. (LITS) Form 10-K — Sep 28, 2026
Lite Strategy, Inc. (Nasdaq: LITS, formerly MEI Pharma) filed its fiscal 2026 10-K reporting a net loss of $71.2 million, versus $15.9 million the prior year, with an accumulated deficit of $475.3 million. The company has fully pivoted from oncology drug development to a Litecoin treasury strategy, deploying the full net proceeds of a $100 million PIPE closed in July 2025 into LTC tokens, and writes covered call options on its LTC through GSR Markets to generate income. Management also authorized a $25 million share repurchase in October 2025 and has bought back 4.4 million shares at a weighted average of $1.12, with roughly $20.2 million remaining.
Key figures
- Shares Outstanding
- 30407268
- Employees
- 5
- Pipe shares
- 23216898
- Shares repurchased
- 4378525
- Accumulated deficit
- 475300000
- Pipe gross proceeds
- 100000000
- Pipe price per share
- 3.42
- Prefunded warrant shares
- 6022869
- Litecoin 12mo price range
- $39.39-$135.56
- Me 344 milestones potential
- 62000000
- Repurchase capacity remaining
- 20200000
- Repurchase weighted avg price
- 1.12
- Share repurchase authorization
- 25000000
- Nonaffiliate market value dec2025
- 43000000
AI analysis
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