24/7 Market News Snapshot 18 July, 2025 – MEI Pharma, Inc. (NASDAQ:MEIP)

July 18, 2025

DENVER, Colo., 18 July, 2025 (www.247marketnews.com) – (NASDAQ:MEIP) are discussed in this article.
MEI Pharma, Inc. has recently captured the market’s attention with a significant increase in its stock price, trading at $6.319, up 40.42% from the previous day’s close of $4.500. This surge reflects heightened investor confidence, supported by recent developments within the company. The trading volume has surged to 34.32 million shares, indicating robust market interest that traders should monitor closely as the trading session unfolds.

In a landmark move for the biotech sector, MEI Pharma has announced a securities purchase agreement for a private investment in public equity (PIPE), aiming to raise approximately $100 million through the sale of 29,239,767 shares of common stock at $3.42 each. This funding is earmarked for the implementation of an innovative treasury strategy involving Litecoin (LTC), making MEI the first publicly traded biotech firm to adopt this cryptocurrency as a treasury reserve asset.

The company has bolstered its strategic direction by appointing cryptocurrency pioneer Charlie Lee to its Board of Directors, following the resignation of Taheer Datoo. The initiative has attracted backing from several prominent investors, including significant crypto venture capital firms and the Litecoin Foundation, highlighting growing institutional confidence in Litecoin as a viable digital asset for financial management.

Frederick W. Driscoll, Chairman of the Board, commented on the initiative, stating, “We’re pioneering a groundbreaking treasury strategy in the biotech sector. Our partnership with GSR and Charlie Lee is set to elevate MEI’s operational capabilities while aligning with our core vision of innovation in healthcare.”

Anticipated to close around July 22, 2025, pending standard conditions, this investment positions MEI Pharma at the intersection of biotechnology and digital finance, paving the way for enhanced asset management strategies in the industry.

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