Mei Pharma Stock Soars 94.71% on Litecoin Treasury Move

On July 18, 2025, Mei Pharma's stock surged by 94.71% in pre-market trading, marking a significant milestone for the company. This dramatic increase comes as Mei Pharma announced a groundbreaking strategic move to adopt Litecoin as a treasury reserve asset, becoming the first publicly traded company to do so on a national exchange.

Mei Pharma has entered into securities purchase agreements for a private investment in public equity (PIPE) for the purchase and sale of 29,239,767 shares of common stock at a price of $3.42 per share, raising approximately $100 million in gross proceeds. This transaction is led by Charlie Lee, the founder of Litecoin, who will join the company's Board of Directors upon closing. GSR, a prominent digital asset market maker, will act as the treasury's Asset Manager, overseeing the implementation of the Litecoin Treasury Strategy.

This strategic move positions Mei Pharma at the forefront of institutional adoption of cryptocurrencies, leveraging Litecoin's proven track record of growth and reliability. The company aims to integrate Litecoin into its treasury operations, complementing its cash management framework with a decentralized monetary asset. This initiative is expected to enhance Mei Pharma's financial flexibility and risk management capabilities, setting a precedent for broader adoption in traditional capital markets.

Charlie Lee, the creator of Litecoin, expressed excitement about the partnership, highlighting Litecoin's principles of speed, security, and decentralization. Josh Riezman, US Chief Strategy Officer of GSR, emphasized the goal of helping institutions unlock the long-term potential of digital assets while managing risk. Frederick W. Driscoll, Chairman of the Board of MEI, noted that this innovative treasury strategy is a pioneering effort in the biotech sector.