Overview

• The company acquired 929,548 Litecoin tokens on August 4 at an average price of $107.58 each, totaling $110.4 million.
• MEI Pharma is the first U.S.-listed public company to adopt Litecoin as its primary treasury reserve asset.
• Executives cited Litecoin’s more than 13 years of network uptime, low transaction fees, fast settlements and integrations with PayPal, BitPay, Venmo and Robinhood.
• Leadership has announced plans for a corporate identity refresh to reflect its new alternative-asset strategy and explore Litecoin mining.
• Despite the crypto initiative, MEI Pharma reaffirmed its commitment to advancing its preclinical drug pipeline, including CDK9 inhibitor voruciclib.