Lixte Biotechnology Holdings (NASDAQ: LIXT) entered into definitive agreements in a registered direct offering with accredited investors for the purchase and sale of approximately $4.3 million of Common Stock and pre-funded and investor warrants at a price of $4.09 per Common Unit, priced at the market under Nasdaq rules. The offering comprised 1,051,342 Common Units or Pre-Funded Units, each consisting of one share of Common Stock or one Pre-Funded Warrant and one Common Warrant exercisable at $3.96 per share, with the Common Warrants exercisable immediately and expiring 60 months from issuance. Gross proceeds totaled approximately $4.3 million, with net proceeds allocated for general corporate purposes and working capital. Spartan Capital Securities LLC served as exclusive placement agent, with Sichenzia Ross Ference Carmel LLP acting as counsel to the company and Kaufman & Canoles PC serving as counsel to the placement agent.
To view the full press release, visit https://ibn.fm/UCloz
About Lixte Biotechnology Holdings, Inc.
LIXTE Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical company focused on new targets for cancer drug development and developing and commercializing cancer therapies. LIXTE has demonstrated that its first-in-class lead clinical PP2A inhibitor, LB-100, is well-tolerated in cancer patients at doses associated with anti-cancer activity. Based on extensive published preclinical data (see www.lixte.com), LB-100 has the potential to significantly enhance chemotherapies and immunotherapies and improve outcomes for patients with cancer.
LIXTE’s lead compound, LB-100, is part of a pioneering effort in an entirely new field of cancer biology – activation lethality – that is advancing a new treatment paradigm. LIXTE’s new approach is covered by a comprehensive patent portfolio. Proof-of-concept clinical trials are currently in progress for Ovarian Clear Cell Carcinoma and Metastatic Colon Cancer.
Additional information about LIXTE can be found at https://lixte.com/
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