---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-062017"
form_type: "8-K"
ticker: "LITS"
cik: "0001262104"
company_name: "Lite Strategy, Inc."
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T06:07:56.452472+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# MEI Pharma Q1 net income $56.4M on deferred revenue; clinical trials on track

## Summary
- Net income $56.4M ($8.46 EPS) vs prior-year net loss $16.6M; revenue $65.3M from Kyowa Kirin termination.
- Cash $82.2M with no debt; operating cash burn $18.5M; funds operations for at least 12 months through data readouts.
- Voruciclib (CDK9) Phase 1 combo with venetoclax dose-escalation data expected early 2024.
- ME-344 (mitochondrial inhibitor) Phase 1b combo with bevacizumab first-cohort data expected H1 2024.
- Abstract on voruciclib monotherapy dose escalation to be presented at ASH Dec 9-12, 2023.

## SEC filing metadata
- accession: 0000950170-23-062017
- form_type: 8-K
- ticker: LITS
- cik: 0001262104
- company_name: Lite Strategy, Inc.
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1262104/000095017023062017/0000950170-23-062017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1262104/000095017023062017/meip-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-062017
- JSON: https://secwatch.observer/filing/0000950170-23-062017.json
- Plain text: https://secwatch.observer/filing/0000950170-23-062017.txt

## Key facts
- Earnings Releases
  Lite Strategy, Inc. reported first quarter ended September 30, 2023 results: revenue $65.3 million, net income $56.4 million, EPS $8.46 per share.
  - Period: first quarter ended September 30, 2023
  - Revenue: $65.3 million
  - Net income: $56.4 million
  - EPS: $8.46 per share
  - Result: reported results
  source text: and related costs from our fiscal year 2023 reduction in headcount, partially offset by higher external professional services and legal expenses. • MEI recognized revenue of $65.3 million for the quarter ended September 30, 2023, compared to $8.7 million for the quarter ended September 30, 2022. The increase in revenue is due to the recognition of deferred revenue
  evidence_url: https://www.sec.gov/Archives/edgar/data/1262104/000095017023062017/0000950170-23-062017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.