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LITS on Nasdaq

Lite Strategy, Inc.

American pharmaceutical preparations company, incorporated in Delaware1

In its 2026 annual report the company says: “We also hold Litecoin (LTC) tokens as a primary reserve asset as part of our broader institutional treasury initiative. Our approach to pre-clinical drug development is to evaluate our drug candidates either as stand-alone or in combination with standard-of-care therapies to overcome known resistance mechanisms and address medical needs to provide improved patient benefit.”4 It is headquartered in San Diego, California.1 Its shares trade on Nasdaq under the symbol LITS.1

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Last updated Oct 21, 2026.

Overview

-$71.2MNet income, fiscal 20262

Compare with ENANTA PHARMACEUTICALS INC, Fortress Biotech or Zentalis Pharmaceuticals, Inc., or pick any stock.

  • TickerLITS on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersSan Diego, California1
  • Incorporated inDE3
  • Business address9920 Pacific Heights Blvd, Suite 150, San Diego, Ca 921213
  • Filer categoryNon-accelerated filer, Smaller reporting company3

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Lite Strategy, Inc. (Nasdaq: LITS) is a pharmaceutical company that has historically developed novel and differentiated cancer therapies. During fiscal year 2026, we commenced pre-clinical development programs in nononcologic disease indications. We also hold Litecoin (LTC) tokens as a primary reserve asset as part of our broader institutional treasury initiative. We initially built our pipeline by acquiring promising cancer agents and creating value in programs through clinical development, strategic partnerships, and out-licensing or commercialization, as appropriate. Our approach to pre-clinical drug development is to evaluate our drug candidates either as stand-alone or in combination with standard-of-care therapies to overcome known resistance mechanisms and address medical needs to provide improved patient benefit. Our drug candidate pipeline includes voruciclib, an oral cyclin-dep…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-100.0%Revenue growth, 20255
-94.2%Return on equity2
-$20.8MFree cash flow2

Financial statements

Revenue67895$0 in 2025
0$20.0M$40.0M$60.0M$80.0M2019: $4.9M$4.9M20192020: $27.8M$27.8M2020+465%2021: $34.8M$34.8M2021+25%2022: $40.7M$40.7M2022+17%2023: $48.8M$48.8M2023+20%2024: $65.3M$65.3M2024+34%2025: $0$02025
Operating income678952-$17.5M in 2025−62% since 2019
-$100.0M-$75.0M-$50.0M-$25.0M0$25.0M2019: -$46.2M-$46.2M20192020: -$25.7M-$25.7M2020−44%2021: -$60.4M-$60.4M2021+135%2022: -$75.5M-$75.5M2022+25%2023: -$36.8M-$36.8M2023−51%2024: $14.5M$14.5M20242025: -$17.5M-$17.5M2025
Net income671052-$15.9M in 2025−5% since 2019
-$60.0M-$40.0M-$20.0M0$20.0M2019: -$16.8M-$16.8M20192020: -$47.2M-$47.2M2020+180%2021: -$41.0M-$41.0M2021−13%2022: -$54.0M-$54.0M2022+32%2023: -$32.0M-$32.0M2023−41%2024: $18.0M$18.0M20242025: -$15.9M-$15.9M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2026-06-302025-06-302024-06-30
Research and development$122.0K$3.9M
General and administrative$12.0M$13.5M
Change in fair value of digital assets$54.4M$0
Total operating expenses$66.6M$17.5M
Loss from operations-$66.6M-$17.5M
Change in fair value of digital assets receivable, net-$5.7M$0
Gain on derivative liabilities, net$813.0K$0
Interest and dividend income$267.0K$1.0M
Gain on disposition of a nonfinancial asset$0$500.0K
Other expense, net$0-$16.0K
Total other (expense) income, net-$4.6M$1.5M
Net loss-$71.2M-$15.9M$18.0M
Basic-$2.06-$2.39
Diluted-$2.06-$2.39
Basic34.6M shares6.7M shares
Diluted34.6M shares6.7M shares

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Corporate structure

Lite Strategy, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Lite Strategy, Inc.

  • Alexander Schornstein Filed SCHEDULE 13G/A on Lite Strategy, Inc., latest Aug 3, 2026 (4 filings since Aug 12, 2025)
  • CITADEL ADVISORS LLC Filed SCHEDULE 13G/A on Lite Strategy, Inc., latest Feb 17, 2026 (2 filings since Jul 29, 2025)
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Lite Strategy, Inc., latest Oct 31, 2025 (3 filings since Feb 9, 2023)
  • Anson Funds Management LP Filed SCHEDULE 13D/A on Lite Strategy, Inc., latest Jul 24, 2025 (11 filings since Feb 14, 2023)
  • TANG CAPITAL PARTNERS LP Filed SC 13G/A on Lite Strategy, Inc., latest Feb 14, 2024 (2 filings since May 1, 2023)
  • Growth Equity Opportunities V, LLC Filed SC 13D/A on Lite Strategy, Inc., latest Mar 9, 2023
  • UBS Oncology Impact Fund L.P. Filed SC 13G/A on Lite Strategy, Inc., latest Feb 9, 2023
  • First Light Asset Management, LLC Filed SC 13G/A on Lite Strategy, Inc., latest May 31, 2022 (2 filings since Feb 14, 2022)
  • WASATCH ADVISORS LP Filed SC 13G/A on Lite Strategy, Inc., latest Apr 7, 2022 (2 filings since Feb 11, 2022)
  • BlackRock Filed SC 13G/A on Lite Strategy, Inc., latest Feb 9, 2022 (2 filings since Feb 1, 2022)
  • Lite Strategy, Inc. San Diego, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Lite Strategy, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$05 Jun 30, 2025$392.0K5 Jun 30, 2024−100.0%
Operating-lease assets (leased space)$05 Jun 30, 2025$214.0K5 Jun 30, 2024−100.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$5.7M2 Jun 30, 2026$18.0M2 Jun 30, 2025−68.3%
Marketable securities, current$05 Jun 30, 2025$34.6M5 Jun 30, 2024−100.0%

Leadership

Who has led Lite Strategy, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Christopher Naughton2008
  2. Daniel P. Gold Phd.2010–2022
  3. David M. Urso2023

President

  1. Christopher Naughton2008
  2. Daniel P. Gold Phd.2010
  3. David M. Urso2023

Chief financial officer

  1. Thomas M. Zech2010–2016
  2. Brian G. Drazba2017–2022

Chief operating officer

  1. David M. Urso2018–2022
2010201520202025
Board members and other officers (22)

Former names

  • MEI Pharma, Inc.Jul 2, 2012 to Sep 10, 20253
  • MARSHALL EDWARDS INCSep 25, 2003 to Jun 6, 20123

Timeline

  1. Jul 30, 20268-K Results of operations41
  2. Jul 24, 20268-K Regulation FD disclosure42
  3. May 13, 20268-K Results of operations43
  4. Feb 17, 20268-K Results of operations44
  5. Feb 12, 20268-K Executive or director change; Shareholder vote45
  6. Dec 30, 20258-K Executive or director change46
  7. Dec 5, 20258-K Change of auditor47
  8. Nov 20, 20258-K Executive or director change48
  9. Nov 18, 20258-K Executive or director change49
  10. Oct 30, 20258-K Executive or director change; Other events50
  11. Sep 15, 20258-K Unregistered sale of shares51
  12. Sep 10, 20258-K Bylaws or fiscal year changed; Regulation FD disclosure52
  13. Jun 6, 2023New chief executive David M. Urso becomes CEO15
  14. May 4, 2010New chief executive Daniel P. Gold Phd. becomes CEO16
  15. Mar 17, 2008New chief executive Christopher Naughton becomes CEO17

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/202653

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results41
  2. May 13, 2026Reported quarterly or annual results43
  3. Feb 17, 2026Reported quarterly or annual results44
  4. May 13, 2025Reported quarterly or annual results54
  5. Feb 12, 2025Reported quarterly or annual results55
  6. Nov 14, 2024Reported quarterly or annual results56
  7. Sep 19, 2024Reported quarterly or annual results57
  8. May 9, 2024Reported quarterly or annual results58

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

290 filings to the SEC since October 2021: 7 annual reports, 17 quarterly reports, 76 major events, 67 insider forms, 30 large holders, 93 other. The latest 20:

  1. Oct 6, 2026EFFECT EDGAR
  2. Sep 28, 2026S-8 EDGAR
  3. Sep 28, 2026S-3 EDGAR
  4. Sep 28, 202610-K EDGAR
  5. Aug 3, 2026SCHEDULE 13G/A EDGAR
  6. Jul 30, 20268-K EDGAR
  7. Jul 24, 20268-K EDGAR
  8. Jun 25, 20264 EDGAR
  9. May 13, 20268-K EDGAR
  10. May 13, 202610-Q EDGAR
  11. Feb 17, 20268-K EDGAR
  12. Feb 17, 202610-Q EDGAR
  13. Feb 17, 2026SCHEDULE 13G/A EDGAR
  14. Feb 12, 20264 EDGAR
  15. Feb 12, 20268-K EDGAR
  16. Jan 27, 2026DEFA14A EDGAR
  17. Dec 30, 2025ARS EDGAR
  18. Dec 30, 2025DEFA14A EDGAR
  19. Dec 30, 2025DEF 14A EDGAR
  20. Dec 30, 20258-K EDGAR

The 290 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

11 open-market trades by officers, directors and large owners since October 2021: 10 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 24, 2026Flynn James PDirectorBuy25,000$0.86$21.5KForm 4
Dec 19, 2025Flynn James PDirectorBuy70,000$1.40$98.0KForm 4
Dec 18, 2025Schornstein Alexander10% ownerSale690,611$1.37$946.1KForm 4
Nov 19, 2025Flynn James PDirectorBuy12,100$1.88$22.7KForm 4
Sep 22, 2023Winson Bruce Ross10% ownerBuy48,060$6.85$329.2KForm 4
Sep 22, 2023Ma-Weaver Jacob10% ownerBuy32,040$6.85$219.5KForm 4
Sep 21, 2023Kassam Moez10% ownerBuy33,600$6.46$217.1KForm 4
Sep 21, 2023Ma-Weaver Jacob10% ownerBuy22,400$6.46$144.7KForm 4
Sep 20, 2023Kassam Moez10% ownerBuy120,000$6.01$721.2KForm 4
Sep 20, 2023Ma-Weaver Jacob10% ownerBuy80,000$6.01$480.8KForm 4
Feb 28, 2023Baltic Charles V. IIIDirectorBuy81,500$0.23$18.7KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025David M. Urso$53.5K$934.0K69
2025Justin J. File55$541.7K$912.7K69
2025Richard G. Ghalie$43.9K$708.1K69
2024Former President and ChiefExecutive Officer$614.0K$894.9K69
2024Former Chief Medical Officer$503.2K$847.1K69
2024Acting Chief Executive OfficerChief Financial Officer$450.0K$614.7K69

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 35. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Renaissance Technologies LLC1,247,350$1.2M0.0%−497,350
Vanguard Capital Management LLC1,021,892$942.2K0.0%−21,421
RLH Capital LLC806,433$743.9K0.4%New
Two Sigma Investments, LP557,011$513.8K0.0%−57,431
Geode Capital Management, LLC365,019$337.1K0.0%−36,072
Citadel Advisors LLC357,529$329.8K0.0%−372,570
BlackRock, Inc.275,829$254.4K0.0%+117,938
Marshall Wace, Llp232,979$214.3K0.0%−100,529
Vanguard Fiduciary Trust Co195,392$180.2K0.0%+1,397
Jane Street Group, LLC192,627$177.7K0.0%+135,381
State Street Corp115,021$106.1K0.0%No change
UBS Group AG91,141$84.0K0.0%+39,791
Northern Trust Corp75,497$69.6K0.0%−4,734
Morgan Stanley71,408$65.9K0.0%+50
XTX Topco Ltd68,165$62.9K0.0%−67,859
ADAR1 Capital Management, LLC67,292$62.1K0.0%No change
Nomura Asset Management International Inc.29,999$28.0K0.0%No change
Vanguard Global Advisers, LLC17,937$16.5K0.0%No change
Susquehanna International Group, Llp15,821$14.6K0.0%−313
Two Sigma Securities, LLC13,986$12.9K0.0%New
Group One Trading LLC2,598$2.4K0.0%−20,541
NFSG Corp1,999$1.8K0.0%No change
Barclays PLC532$4910.0%New
Bnp Paribas Financial Markets462$4260.0%No change
HighMark Wealth Management LLC287$2640.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Lite Strategy, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLite Strategy, Inc.1
  • CIK0001262104
  • Employer ID (EIN)51-04078114
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsJune 301
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address9920 Pacific Heights Blvd, Suite 150, San Diego, CA 921211
  • Phone858-369-71001
  • Shares outstanding30,407,268 shares as of Sep 22, 20264
  • Public float$43.0M as of Dec 31, 20254
  • AuditorCBIZ CPAs PC, San Diego, California PCAOB ID 199; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceSep 25, 20031
  • Filings1,018 in all: 4 (253), 8-K (195), 10-Q (68), SC 13G/A (51), 3 (40), 424B3 (39), SC 13D/A (37), SC 13G (25)1
    All 54 form types

    10-K (23), DEF 14A (23), DEFA14A (23), CORRESP (22), EFFECT (20), UPLOAD (19), 424B5 (17), 425 (17), S-3 (15), S-8 (13), 4/A (10), ARS (8), PRE 14A (8), SC 13D (8), DFAN14A (7), 8-K/A (6), POS AM (6), 10-K/A (5), SCHEDULE 13G/A (5), 10-Q/A (4), CT ORDER (4), S-1/A (4), S-3/A (4), 144 (3), DEFC14A (3), PREC14A (3), D (2), DEF 14C (2), PRE 14C (2), PRER14A (2), PX14A6G (2), REGDEX (2), S-1 (2), S-4 (2), S-4/A (2), SCHEDULE 13G (2), 25-NSE (1), 424B4 (1), 8-A12B (1), 8-A12G (1), NT 10-Q (1), POS EX (1), PRRN14A (1), S-1MEF (1), S-3MEF (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Sep 28, 2026
    Quarterly report (10-Q) May 13, 2026
    Proxy statement (DEF 14A) Dec 30, 2025
    Latest 8-K (8-K) Jul 30, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.00000002 par valueLITSNasdaq

From the cover page of the 10-K filed Sep 28, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Lite Strategy, Inc. names in Item 1A of its 10-K filed Sep 28, 2026: 27 risks under these headings, as written.4

  • Risks Related to Investing in Litecoin
  • The price of Litecoin has been and will likely continue to be, highly volatile.
  • The launch of central bank digital currencies (CBDCs) may adversely impact our business.
  • We may be subject to regulatory developments related to crypto assets and crypto asset markets, which could adversely affect our business, financial condition and results of operations.
  • Regulatory change reclassifying Litecoin as a security could lead to our falling within the definition of “investment company” under the Investment Company Act of 1940, as amended, or the 1940 Act and could adversely affect the market price of Litecoin and the market price of our common stock.
  • We are not subject to legal and regulatory obligations that apply to investment companies such as mutual funds and exchange-traded funds, or to obligations applicable to investment advisers.
  • If we or our third-party service providers experience a security breach or cyberattack and unauthorized parties obtain access to our Litecoin, or if our private keys are lost or destroyed, or other similar circumstances or events occur, we may lose some or all of our Litecoin and our financial condition and results of operations could be materially adversely affected.
  • Risks Related to Our Financial Condition and Capital Requirements
  • We have incurred significant losses from our inception and we anticipate that we may incur losses in the foreseeable future.
  • We may need additional funding and may be unable to raise capital when needed, which would force us to delay, reduce or eliminate our pre-clinical drug development programs.
  • Risks Related to Our Intellectual Property
  • The value of our intellectual property is dependent, in part, on obtaining and maintaining patent protection and preserving trade secrets, which cannot be guaranteed.
The other 18 risks
  • General Business Risks
  • Our employees, independent contractors, consultants or commercial partners may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements, which could have a material adverse effect on our business.
  • Our business and operations would suffer in the event of system failures.
  • Our efforts will be seriously jeopardized if we are unable to retain and attract key employees.
  • Negative U.S. and global economic conditions may pose challenges to our business strategy, which relies on funding from the financial markets or collaborators.
  • Laws, rules and regulations relating to public companies may be costly and impact our ability to attract and retain directors and executive officers.
  • Security breaches and privacy, data protection, cybersecurity, operational resilience and Artificial Intelligence (AI) issues could compromise our information and systems and expose us to liability, which would cause our business and reputation to suffer.
  • If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could harm our business.
  • We or the third parties upon whom we depend may be adversely affected by natural disasters and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.
  • Limitations on the deductibility of net operating losses could adversely affect our business and financial condition.
  • Risks Related to Securities Markets and Investment in our Stock
  • We are currently operating in a period of capital markets disruption and economic uncertainty.
  • If we fail to comply with the continued listing standards of the Nasdaq Capital Market, we may be delisted and the price of our common stock, our ability to access the capital markets and our financial condition could be negatively impacted.
  • The trading price of the shares of our common stock has been and may continue to be highly volatile and could decline in value and we may incur significant costs from class action litigation.
  • Future sales of our common stock, including common stock issued upon exercise of outstanding warrants or options, may depress the market price of our common stock and cause stockholders to experience dilution.
  • Other than as described below or in connection with a strategic transaction we do not intend to pay and we have not paid, any cash dividends on our shares of common stock. Our stockholders will not be able to receive a return on their shares unless the value of our common stock appreciates and they sell their shares.
  • We will have broad discretion over the use of the net proceeds from any exercise of outstanding warrants and options.
  • We are authorized to issue blank check preferred stock, which could adversely affect the holders of our common stock.
  • Anti-takeover provisions contained in our amended and restated certificate of incorporation and sixth amended and restated bylaws, as well as provisions of Delaware law, could impair a takeover attempt.
  • Our executive officer and directors may sell shares of their stock and these sales could adversely affect our stock price.

Legal proceedings

We are not currently party to a material legal proceeding that we believe will have a material adverse effect on our business or financial conditions.

The opening of Item 3, Legal Proceedings.4

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