LTC Gains 10% After $100M Move by Public Company — Is a Broader Breakout Ahead?

Litecoin Soars 10% as MEI Pharma Announces $100M Crypto Treasury Plan

Litecoin (LTC) surged 10% to $100.05 on Wednesday, driven by news that MEI Pharma, a small-cap Nasdaq-listed biotech firm, plans to allocate $100 million to litecoin as part of a new treasury strategy.

The company will raise the funds via a private stock offering and intends to use the entire proceeds to acquire LTC—potentially becoming the first U.S. public company to designate litecoin as its primary reserve asset.

In conjunction with the announcement, MEI revealed that Litecoin founder Charlie Lee will join its board following the transaction. Digital asset market maker GSR, which is also participating in the raise, has been appointed to manage MEI’s crypto treasury.

“This milestone not only reflects growing institutional confidence in LTC but also sets the stage for broader adoption in traditional capital markets,” said Lee in a statement.

Other investors in the round include the Litecoin Foundation, ParaFi Capital, CoinFund, Hivemind Capital, MOZAYYX, Primitive Ventures, and RLH Capital.

The announcement comes as sentiment across the altcoin sector improves, buoyed by the House’s passage of the GENIUS Act—a bill supporting blockchain innovation that’s expected to be signed into law by President Trump on Friday. Traders are also watching the forthcoming CLARITY Act, which is expected to provide clearer regulatory guidelines for digital assets.

MEI Pharma, best known for its oncology drug pipeline including the CDK9 inhibitor voruciclib, said the litecoin allocation aligns with its broader treasury diversification strategy. The company cited LTC’s consistent uptime, low fees, and resilience as deciding factors.

Titan Partners Group, a division of American Capital Partners, acted as the exclusive placement agent. MEI noted the transaction complies with Nasdaq’s listing and pricing requirements, and a resale registration filing with the SEC will follow the deal’s closure.

No litecoin has been purchased yet, and execution of the plan remains contingent on successful completion of the raise.

Shares of MEI jumped 46% to $6.58 in early Thursday trading after closing at $4.50 the day before. The stock touched an intraday high of $9.00—its highest in a year—pushing the firm’s market capitalization just over $50 million.