---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-117406"
form_type: "8-K"
ticker: "LITS"
cik: "0001262104"
company_name: "Lite Strategy, Inc."
filed_at: "2024-10-25T23:59:59+00:00"
generated_at: "2026-05-30T09:58:57.290139+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# MEI Pharma sells rights to ME-344 to Aardvark Therapeutics for up to $62.5M milestones

## Summary
- Closed on Oct 22, 2024: sold ME-344 assets (IP, contracts, technology) to Aardvark Therapeutics for $0.5M upfront plus $55K reimbursement.
- Potential milestone payments up to $62M tied to regulatory approval and sales milestones for ME-344.
- Purchaser assumes certain liabilities under transferred contracts; no material relationship between parties.
- Company retains all other assets and liabilities not specifically transferred (Excluded Assets and Liabilities).

## SEC filing metadata
- accession: 0000950170-24-117406
- form_type: 8-K
- ticker: LITS
- cik: 0001262104
- company_name: Lite Strategy, Inc.
- filed_at: 2024-10-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1262104/000095017024117406/0000950170-24-117406-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1262104/000095017024117406/meip-20241022.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-117406
- JSON: https://secwatch.observer/filing/0000950170-24-117406.json
- Plain text: https://secwatch.observer/filing/0000950170-24-117406.txt

## Key facts
- M&A Transactions
  Lite Strategy, Inc. completed a disposition involving Aardvark Therapeutics, Inc. for $500,000 in cash plus the Reimbursement Amount and up to $62 million in Milestone Payments (closed 2024-10-22).
  - Action: disposition
  - Counterparty: Aardvark Therapeutics, Inc.
  - Consideration: $500,000 in cash plus the Reimbursement Amount and up to $62 million in Milestone Payments
  - Closing: 2024-10-22
  source text: including relevant intellectual property rights, technology and contracts. Pursuant to the Asset Purchase Agreement, the Purchaser paid the Company an initial payment of $500,000 in cash plus the Reimbursement Amount (as defined in the Asset Purchase Agreement) at the closing of the transactions contemplated by the Asset Purchase Agreement (the “Closing”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1262104/000095017024117406/0000950170-24-117406-index.htm

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