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

Core Viewpoint - LIXTE Biotechnology Holdings, Inc. has successfully closed 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 [1][2]. Group 1: Offering Details - The total gross proceeds from the offering amount to approximately $1,050,000, before deducting fees and expenses [2]. - The warrants issued in the private placement allow for the purchase of up to 434,784 shares at an exercise price of $2.29 per share, exercisable for five years [1][2]. Group 2: Regulatory and Compliance Information - The shares were offered under a "shelf" registration statement filed with the SEC, which became effective on May 2, 2024 [3]. - The warrants and the underlying shares have not been registered under the Securities Act, limiting their sale in the U.S. without an effective registration statement or applicable exemption [4]. Group 3: Company Overview - LIXTE is a clinical-stage pharmaceutical company focused on developing cancer therapies, particularly its lead clinical compound, LB-100, which is a first-in-class PP2A inhibitor [6]. - LB-100 has shown potential to improve outcomes for patients undergoing various cancer treatments and is part of a new treatment paradigm in cancer biology [6].