{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-24-085347","form_type":"8-K","ticker":"LITS","cik":"0001262104","company_name":"Lite Strategy, Inc.","filed_at":"2024-07-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:12.416961+00:00","generated_at":"2026-05-31T18:27:11.633040+00:00","sec_items":["2.05","5.02","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.95,"calibrated_materiality_score":0.95,"confidence":"high","headline":"MEI Pharma halts voruciclib, cuts workforce, CEO/CMO depart, evaluates wind-down","bullets":["Board unanimously begins evaluation of strategic alternatives including transactions or orderly wind-down.","Reduction-in-force commencing; clinical development of voruciclib discontinued.","CEO David Urso and CMO Richard Ghalie step down Aug 1, 2024; CFO Justin File appointed Acting CEO.","Expected restructuring charges of ~$5.8 million in Q1 fiscal 2025 for one-time employee termination costs.","Charles Baltic steps down as Chairperson; Frederick Driscoll appointed as Chair."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-24-085347","json":"https://secwatch.observer/filing/0000950170-24-085347.json","markdown":"https://secwatch.observer/filing/0000950170-24-085347.md","text":"https://secwatch.observer/filing/0000950170-24-085347.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024085347/0000950170-24-085347-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024085347/meip-20240722.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T18:27:11.633040+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7088740b4a","claim":"David M. Urso departed as President and Chief Executive Officer at Lite Strategy, Inc..","evidence_excerpt":"David M. Urso, our President and Chief Executive Officer, and Richard G. Ghalie, M.D., our Chief Medical Officer, will be leaving the Company effective August 1, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024085347/0000950170-24-085347-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"leaving"},{"label":"Role","value":"President and Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"85d3bb7d4d","claim":"Richard G. Ghalie departed as Chief Medical Officer at Lite Strategy, Inc..","evidence_excerpt":"David M. Urso, our President and Chief Executive Officer, and Richard G. Ghalie, M.D., our Chief Medical Officer, will be leaving the Company effective August 1, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024085347/0000950170-24-085347-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"leaving"},{"label":"Role","value":"Chief Medical Officer"}],"fact_type":"executive_change"},{"claim_id":"896fadb2b1","claim":"Frederick W. Driscoll was appointed as Chairperson of the Company at Lite Strategy, Inc..","evidence_excerpt":"The Board has appointed Frederick W. Driscoll as Chairperson of the Company.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024085347/0000950170-24-085347-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chairperson of the Company"}],"fact_type":"executive_change"},{"claim_id":"ba76aee291","claim":"Justin J. File was appointed as Acting Chief Executive Officer at Lite Strategy, Inc..","evidence_excerpt":"The Board has appointed Justin J. File, age 53, currently the Company’s Chief Financial Officer and Secretary, to serve in the additional capacity of Acting Chief Executive Officer (“Acting CEO”), effective as of August 1, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024085347/0000950170-24-085347-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Acting Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"fe60e98f7a","claim":"Charles V. Baltic III departed as Chairperson of the Board at Lite Strategy, Inc..","evidence_excerpt":"Charles V. Baltic III, the current Chairperson of the Board, will also step down from the Board effective immediately.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024085347/0000950170-24-085347-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"step down"},{"label":"Role","value":"Chairperson of the Board"}],"fact_type":"executive_change"},{"claim_id":"393ef5bc9e9900271107074da2cf31f7518e27db","claim":"Lite Strategy, Inc. announced a restructuring with charges of approximately $5.8 million affecting the Company (reduction-in-force).","evidence_excerpt":"the Company expects to incur personnel-related restructuring charges of approximately $5.8 million in connection with one-time employee termination costs, including severance and other benefits, which are expected to be recognized in the first quarter of fiscal 2025","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024085347/0000950170-24-085347-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $5.8 million"},{"label":"Affected area","value":"the Company"},{"label":"Headcount","value":"reduction-in-force"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}