LIXTE Biotechnology Announces $1.05 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Core Viewpoint - LIXTE Biotechnology Holdings, Inc. has announced a registered direct offering of 434,784 shares of common stock at a price of $2.415 per share, along with a concurrent private placement of unregistered warrants to purchase the same number of shares at an exercise price of $2.29 per share, expected to raise approximately $1.05 million in gross proceeds [1][2]. Group 1: Offering Details - The offering consists of 434,784 shares of common stock priced at $2.415 per share, with a concurrent issuance of warrants at an exercise price of $2.29 per share, exercisable for five years [1]. - The expected gross proceeds from the offering are approximately $1.05 million, before deducting fees and expenses [2]. - The closing of the offering is anticipated to occur on or about February 12, 2025, subject to customary closing conditions [1]. Group 2: Regulatory and Legal Information - The shares are being offered under a "shelf" registration statement on Form S-3, which became effective on May 2, 2024 [3]. - The warrants are issued in a private placement and have not been registered under the Securities Act, meaning they cannot be offered or sold in the U.S. without an effective registration statement or applicable exemption [4]. Group 3: Company Overview - LIXTE Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical company focused on developing cancer therapies, particularly its lead clinical compound LB-100, which has shown potential in improving outcomes for patients undergoing chemotherapy or immunotherapy [6]. - LB-100 is part of a new treatment paradigm in cancer biology known as activation lethality, and the company holds a comprehensive patent portfolio for its innovative approach [6].