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24/7 Market News: LIXTE Biotech Advances Precision Oncology Pipeline with Multiple Phase 1B/2 Trial Readouts Expected in 2H 2025
Globenewswire· 2025-08-14 12:05
Core Insights - LIXTE Biotechnology Holdings is focusing on its lead compound LB-100, a first-in-class small molecule inhibitor targeting protein phosphatase 2A (PP2A), which plays a crucial role in cell signaling and DNA damage response [2][13] - The company aims to address high unmet needs in the $200 billion global oncology market, particularly in resistant cancers where traditional treatments have limited efficacy [2] Upcoming Catalysts - The Phase 1B/2 trial for Ovarian Clear Cell Carcinoma (OCCC) is designed to overcome platinum resistance by combining LB-100 with carboplatin and paclitaxel, with preliminary efficacy data expected in Q4 2025 [3][4][7] - The ongoing Phase 1B/2 trial for Advanced Soft Tissue Sarcoma (STS) evaluates LB-100 in combination with doxorubicin, with updates on progression-free survival and objective response rate anticipated in late Q3 2025 [5][8] - A Phase 1B trial for Metastatic Microsatellite Stable (MSS) Colon Cancer is actively recruiting, with initial biomarker and response data expected in Q4 2025 [6][9] Market Potential - The global treatment market for OCCC is projected to exceed $750 million by 2028 due to rising incidence and limited targeted therapies [7] - The global STS drug market is estimated to reach $2.1 billion by 2030, driven by the emergence of combination therapies and unmet medical needs [8] - The global colorectal cancer therapeutics market is expected to surpass $18 billion by 2030, with MSS disease representing a significant portion of treatment-resistant cases [10] Platform Potential - LIXTE's strategy of targeting PP2A positions LB-100 as a versatile combination agent applicable across various solid tumors, addressing oncology subtypes with high unmet needs and limited innovation [11] - The company has a strong intellectual property position with multiple issued and pending patents covering composition, methods of use, and combinations [15] - Ongoing discussions for partnership opportunities with academic institutions and biopharma partners for co-development are in progress [15]
24/7 Market News: LIXTE Biotechnology Holdings Embraces Cryptocurrency in Corporate Treasury Strategy
Globenewswire· 2025-08-13 12:49
Core Viewpoint - LIXTE Biotechnology Holdings has approved a new treasury policy to diversify its corporate reserves into cryptocurrencies, including Bitcoin, highlighting its commitment to strategic capital allocation and long-term shareholder value creation [1][3]. Treasury Policy Details - Under the new policy, up to 25% of LIXTE's corporate treasury may be allocated to cryptocurrencies, with all digital assets securely held by a regulated custodian and transactions adhering to financial, legal, and audit standards [2]. - The updated treasury policy reflects LIXTE's belief in the long-term potential of cryptocurrency to hedge existing treasury assets and deliver returns for shareholders [3]. Strategic and Financial Rationale - The diversification strategy aims to create a more dynamic balance sheet, allowing LIXTE to be agile in capital deployment while benefiting from long-term appreciation in digital assets [4]. - This move aligns with a growing trend among companies adopting cryptocurrencies as part of their treasury management approach [5]. Industry Trend - LIXTE joins a list of public companies utilizing cryptocurrency as a strategic asset class, which is associated with increased institutional attention and greater visibility in financial and technology sectors [5]. - For smaller-cap growth companies like LIXTE, this strategy signals operational sophistication and a progressive approach to capital efficiency [5]. Additional Strategic Benefits - The treasury diversification is intended to hedge against inflation and fiat currency depreciation, enhance liquidity with globally recognized assets, and position LIXTE at the forefront of fintech-enabled financial strategies [9]. - Digital assets are viewed as a potential asymmetric upside to complement LIXTE's biotech growth trajectory [9].
LIXTE Biotechnology Holdings Updates Corporate Treasury Policy to Include Cryptocurrency
Globenewswire· 2025-08-13 11:30
Core Viewpoint - LIXTE Biotechnology Holdings, Inc. has approved a strategic initiative to allocate up to 25% of its treasury to cryptocurrencies, including Bitcoin, reflecting a belief in the long-term potential of digital assets to enhance shareholder value [1][4]. Group 1: Strategic Capital Allocation - The Board of Directors has authorized the allocation of up to 25% of the company's treasury to cryptocurrencies [1]. - The timing and size of cryptocurrency transactions will depend on market conditions and strategic considerations [2]. - The company will hold all cryptocurrency assets with a fully regulated custodian and ensure compliance with financial, legal, and audit regulations [3]. Group 2: Company Overview - LIXTE is a clinical-stage pharmaceutical company focused on developing cancer therapies, with its lead compound, LB-100, showing promise in enhancing chemotherapy and immunotherapy outcomes [4][5]. - The company is engaged in pioneering research in cancer biology, specifically in the area of activation lethality, and has a comprehensive patent portfolio [5]. - Ongoing proof-of-concept clinical trials are being conducted for various cancer types, including Ovarian Clear Cell Carcinoma and Metastatic Colon Cancer [5].
Lixte Biotechnology(LIXT) - 2025 Q2 - Quarterly Report
2025-08-07 12:31
Financial Performance - The Company recorded a net loss of $1,485,228 and used cash in operations of $1,055,968 for the six months ended June 30, 2025[267]. - The Company has no recurring source of revenues and has experienced negative operating cash flows since inception[269]. - For the first half of 2025, patent and licensing legal and filing fees decreased to $73,386 compared to $146,823 in the same period of 2024, a reduction of 50.0%[298]. - For the three months ended June 30, 2025, the Company reported a net loss of $775,673, compared to a net loss of $1,010,919 for the same period in 2024, indicating a decrease in losses of approximately 23.2%[338]. - The Company had no revenues for the six months ended June 30, 2025, consistent with the same period in 2024[339]. - The Company incurred total costs and expenses of $774,809 for the three months ended June 30, 2025, compared to $1,009,156 for the same period in 2024[325]. - The Company incurred a prorated charge of $207,004 for the cost of patients enrolled in the clinical trial, which is included in accounts payable and accrued expenses as of June 30, 2025[374]. - For the six months ended June 30, 2025, the company incurred a net loss of $1,485,228, an improvement from a net loss of $1,982,241 for the same period in 2024[352]. - The company utilized cash of $1,055,968 in operating activities for the six months ended June 30, 2025, compared to $1,608,266 for the same period in 2024[361]. Cash and Funding - As of June 30, 2025, the Company had cash of $887,212 available to fund its operations[267]. - The Company closed a private placement on July 2, 2025, for gross proceeds of $5,050,000 and a registered direct offering on July 8, 2025, for gross proceeds of $1,500,000[259][260]. - The Company estimates that its existing cash resources, along with recent equity financings, will provide sufficient working capital for at least the next 12 months[270]. - The Company expects existing cash resources, along with net proceeds from recent private placements, to fund operations for at least the next 12 months, but additional capital will be needed for product development[357]. - As of June 30, 2025, the company had working capital of $452,630, down from $827,219 at December 31, 2024, reflecting a net decrease of $374,589[354]. Clinical Development - The Company is focusing on the clinical development of LB-100, a specific protein phosphatase inhibitor, which is believed to have significant therapeutic potential for a broad range of cancers[257]. - The Company is currently investigating LB-100 in combination with checkpoint immunotherapy in two clinical trials, collaborating with GSK and Roche[266]. - The Company is focused on the clinical development of LB-100, a protein phosphatase 2A inhibitor, which is currently being tested in clinical trials for Ovarian Clear Cell Carcinoma, Metastatic Colon Cancer, and Advanced Soft Tissue Sarcoma[307]. - LB-100 has demonstrated anti-cancer activity in animal models and is expected to enhance the effectiveness of existing anti-cancer drugs without significantly increasing toxicity[307]. - The Company aims to secure strategic partnerships or licensing agreements with major pharmaceutical companies as it progresses through the FDA-approval process for LB-100[308]. - The Company has ongoing clinical trials for its lead anti-cancer compound LB-100, with various phases actively recruiting patients[365]. - The Phase 1b clinical trial for LB-100 combined with atezolizumab is evaluating safety, optimal dose, and preliminary efficacy for metastatic microsatellite stable colorectal cancer, with a total of 37 patients expected to be enrolled over 24 months[369]. - The clinical trial opened in August 2024, with two patients enrolled to date, and the study has been paused due to two Serious Adverse Events (SAEs) under investigation[370]. - The collaboration with GEIS aims to enroll approximately 150 to 170 patients in a trial assessing LB-100 plus doxorubicin versus doxorubicin alone, with a planned median progression-free survival of 4.5 months for doxorubicin alone and 7.5 months for the combination[377]. - The MD Anderson Cancer Center clinical trial aims to assess the effectiveness of LB-100 combined with GSK's dostarlimab-gxly in treating ovarian clear cell carcinoma, with completion expected by December 31, 2027[386]. Costs and Expenses - Research and development costs for the three months ended June 30, 2025, were $60,648, a decrease of $150,060 or 71.2% compared to $210,708 in 2024[332]. - General and administrative costs for the three months ended June 30, 2025, were $714,161, down by $84,287 or 10.6% from $798,448 in 2024[335]. - Research and development costs decreased by $177,667, or 53.9%, in 2025 compared to 2024, primarily due to a decrease in clinical oversight costs of $80,507 and preclinical research costs of $138,947[345]. - General and administrative costs decreased by $316,619, or 19.2%, in 2025 compared to 2024, mainly due to reductions in insurance expenses of $125,174 and officer compensation costs of $191,878[349]. - The Company incurred costs of $14,794 and $60,569 for the six months ended June 30, 2025 and 2024, respectively, under the License Agreement[408]. - The Company incurred costs of $34,857 and $9,870 under a contract with MRI Global for stability analysis during the six months ended June 30, 2025 and 2024, respectively[419]. Regulatory and Compliance - The Company received notice from Nasdaq on July 15, 2025, that it was in compliance with the Stockholders' Equity Requirement after recent equity financings[283]. - The Company’s independent registered public accounting firm expressed substantial doubt about its ability to continue as a going concern due to ongoing cash requirements[272]. - The Company has not commenced any revenue-generating operations and is dependent on raising equity capital to fund its operating requirements as of June 30, 2025[323]. - The Company has adopted ASU 2023-07 for segment reporting, which requires additional disclosures effective January 1, 2024[291]. - The Company is evaluating various strategic alternatives, including merger or acquisition opportunities, to obtain capital for operations and maintain its Nasdaq listing[421]. Commitments and Agreements - The Company's remaining financial contractual commitments pursuant to clinical trial agreements not yet incurred aggregate approximately $524,000, scheduled to be incurred through December 31, 2027[268]. - The Company has incurred charges of $685,107 for work done under the GEIS agreement through the fourth milestone as of June 30, 2025[383]. - The aggregate commitment for the Phase 1b portion of the GEIS trial totaled approximately $293,000 as of June 30, 2025, scheduled to be incurred through December 31, 2025[384]. - The Company has a commitment of approximately $1,765,000 under the License Agreement, expected to be incurred over the next twenty years[408]. - The Company's aggregate commitment under the MRI Global contract totaled approximately $90,000 as of June 30, 2025[420].
LIXTE Biotechnology Holdings Regains Compliance with Nasdaq’s Continued Listing Requirements
Globenewswire· 2025-07-16 12:05
Core Viewpoint - LIXTE Biotechnology Holdings, Inc. has regained compliance with Nasdaq's Listing Rule 5550(b)(1) after successfully closing a $5.0 million placement and a $1.5 million registered direct offering, ensuring its continued listing on the Nasdaq Capital Market [1][2]. Company Overview - LIXTE is a clinical-stage pharmaceutical company focused on developing and commercializing cancer therapies, particularly targeting new areas in cancer drug development [3][4]. - The company's lead clinical compound, LB-100, is a first-in-class PP2A inhibitor that has shown promise in enhancing chemotherapies and immunotherapies for cancer patients [3][4]. Financial Health - The recent capital raises of $5.0 million and $1.5 million have bolstered the company's financial position, allowing it to meet the minimum equity requirement of $2.5 million for Nasdaq compliance [1][2]. - CEO Geordan Pursglove emphasized the company's commitment to maintaining its Nasdaq listing and improving its financial health while pursuing clinical trials for various cancers [3]. Clinical Development - LIXTE is currently conducting proof-of-concept clinical trials for ovarian clear cell carcinoma, metastatic colon cancer, and advanced soft tissue sarcoma [4]. - The company is pioneering a new treatment paradigm in cancer biology known as activation lethality, supported by a comprehensive patent portfolio [4].
Spartan Capital Securities, LLC Serves as Placement Agent in Lixte Biotechnology Holdings, Inc.'s $1.5 Million Registered Direct Offering
GlobeNewswire News Room· 2025-07-09 21:15
Core Insights - Spartan Capital Securities, LLC announced the closing of a $1.5 million registered direct offering for Lixte Biotechnology Holdings, Inc. [1] - The offering involved the sale of 974,026 shares of Common Stock at a public offering price of $1.54 per share [2] - The gross proceeds of approximately $1.5 million will be used for general corporate purposes and working capital [3] Company Overview - Lixte Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical company focused on cancer drug development [2][8] - The company's lead compound, LB-100, is a first-in-class PP2A inhibitor that enhances the effectiveness of chemotherapy and immunotherapy [8] - Clinical trials are currently underway for Ovarian Clear Cell Carcinoma, Metastatic Colon Cancer, and Advanced Soft Tissue Sarcoma [8] Transaction Details - The offering was made under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission [5] - Spartan Capital Securities served as the exclusive placement agent for this transaction [1][4] - The transaction reflects a focus on aligning innovative biotech companies with strategic capital for advancing therapies [4]
New Clinical Findings Published in Scientific Journal Nature Validate LIXTE's Ongoing Ovarian and Colorectal Cancer Trials
Globenewswire· 2025-07-09 12:05
Core Insights - LIXTE Biotechnology Holdings, Inc. announced that findings published in the journal Nature validate its ongoing clinical trials with the proprietary compound LB100 for Ovarian and Colorectal cancers [1][2] Group 1: Clinical Trials and Research Findings - A study led by Dr. Amir Jazaeri found that Ovarian Clear Cell Carcinoma (OCCC) patients with inactivating mutations in PPP2R1A had significantly better overall survival when treated with immune checkpoint blockade therapy [2][3] - Inactivating mutations in PPP2R1A reduce the enzymatic activity of PP2A, which is the target of LIXTE's LB-100, and these tumors showed increased interferon gamma response pathways associated with improved immune checkpoint responses [3] - LIXTE is conducting two clinical trials to investigate LB-100's activity in combination with checkpoint immunotherapy, one in collaboration with GSK for OCCC and another with Roche for colon cancer patients [4][5] Group 2: Company Overview and Future Directions - LIXTE is focused on developing new cancer therapies and has demonstrated that LB-100 is well-tolerated in cancer patients at doses associated with anti-cancer activity [6][7] - The company is pioneering a new treatment paradigm in cancer biology known as activation lethality, with ongoing proof-of-concept clinical trials for various cancer types [7]
Lixte Biotechnology Holdings, Inc. Announces the Closing of $1.5 Million Registered Direct Offering
Globenewswire· 2025-07-08 20:05
Core Viewpoint - Lixte Biotechnology Holdings, Inc. has successfully closed a registered direct offering, raising approximately $1.5 million through the sale of shares of Common Stock and Pre-Funded Warrants [1][3]. Group 1: Offering Details - The offering included the sale of 974,026 shares of Common Stock or Pre-Funded Warrants, with a public offering price of $1.54 per share [2]. - The Pre-Funded Warrants are immediately exercisable and can be exercised at any time until fully exercised [2]. - The gross proceeds from the transaction amounted to approximately $1.5 million, and the transaction closed on July 8, 2025 [3]. Group 2: Use of Proceeds - The net proceeds from the offering, along with existing cash, are expected to be used for general corporate purposes and working capital [3]. Group 3: Company Overview - Lixte Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical company focused on developing new cancer therapies, particularly its lead clinical compound, LB-100, which has shown potential in enhancing chemotherapies and immunotherapies [6][7]. - LB-100 is part of a new treatment paradigm in cancer biology known as activation lethality, and proof-of-concept clinical trials are currently underway for various cancer types [7].
Spartan Capital Securities, LLC Serves as Placement Agent in Lixte Biotechnology Holdings, Inc.'s $5.0 Million Private Placement
GlobeNewswire News Room· 2025-07-08 18:57
Group 1: Transaction Overview - Spartan Capital Securities, LLC closed a $5.0 million private placement for Lixte Biotechnology Holdings, Inc. on July 2, 2025, serving as the exclusive placement agent [1][2]. - The offering included the sale of Common Stock (or Pre-Funded Warrants), Series B Convertible Preferred Stock, and Common Warrants to accredited investors [2]. - The company received gross proceeds of approximately $5.0 million, with $4.0 million received at closing and the remaining $1.0 million to be received upon effectiveness of a resale registration statement [3]. Group 2: Use of Proceeds - Proceeds from the offering will be used for general corporate purposes and working capital [3]. Group 3: Company Background - Lixte Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical company focused on developing cancer therapies based on novel biological pathways [8]. - The company's lead compound, LB-100, is a first-in-class PP2A inhibitor that has shown promise in enhancing the effectiveness of chemotherapy and immunotherapy, with clinical trials underway for colon, small cell lung, and sarcoma cancers [8]. Group 4: Representation and Support - Lixte was represented by TroyGould PC, while Spartan Capital Securities was represented by Kaufman & Canoles, P.C. [4].
Lixte Biotechnology Holdings, Inc. Announces the Closing of $5.0 Million Private Placement Priced at the Market
Globenewswire· 2025-07-02 20:05
Core Viewpoint - Lixte Biotechnology Holdings, Inc. has successfully closed a private placement raising approximately $5.0 million through the sale of shares and warrants, aimed at supporting its cancer drug development efforts [1][3]. Group 1: Private Placement Details - The offering included the sale of 2,382,084 shares of Common Stock (or Pre-Funded Warrants), 3,573,130 shares of Series B Convertible Preferred Stock, and 6,355,214 Common Warrants [2]. - The Pre-Funded Warrants are immediately exercisable at a price of $0.00001, while the Common Warrants have an initial exercise price of $1.00 per share and expire 60 months after the resale registration statement is effective [2]. - The gross proceeds of approximately $5.0 million consist of $4.0 million paid at closing and $1.0 million to be paid upon the effectiveness of the resale registration statement [3]. Group 2: Use of Proceeds - The net proceeds from the offering, along with existing cash, are intended for general corporate purposes and working capital [3]. Group 3: Company Overview - Lixte Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical company focused on developing new cancer therapies, particularly its lead compound LB-100, which has shown promise in enhancing chemotherapy and immunotherapy outcomes [6][7]. - LB-100 is part of a new treatment paradigm in cancer biology known as activation lethality, with ongoing proof-of-concept clinical trials for various cancer types [7].